November 10, 2023
For Immediate Release
Contact: Corinne Day
WASHINGTON — On Friday night, Speaker Johnson released the following statement after Moody’s Investor Service announced that they had downgraded the U.S. credit rating from “stable” to “negative”:
“Moody’s Investor Service downgrade of the U.S. credit rating is the latest example of the failure of President Biden and Democrats reckless spending agenda.
Our $33.6 trillion debt is unsustainable and poses a danger to our national security and economy. Meanwhile, the runaway inflation and soaring interest rates that have been the cornerstone of ‘Bidenomics’ have hammered families’ pocket books and made the Treasury’s costs for borrowing spiral out of control.
This is why the Administration and their congressional allies have lost the faith of the American people.
House Republicans are committed to working in a bipartisan fashion for common sense fiscal restraint beginning with the introduction of a debt commission, and returning to an appropriations process that restores regular order and common sense.
We will fight to get our finances in order.”
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