Leader Cantor On S&P Announcement

Posted on

WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today issued the following statement after Standard and Poor (S&P) announced that they have revised the United States long-term credit rating from stable to negative:

“Serious reforms are needed to ensure America’s fiscal health, and today S&P sent a wake-up call to those in Washington asking Congress to blindly increase the debt limit. Today’s announcement makes clear that the debt limit increase proposed by the Obama Administration must be accompanied by meaningful fiscal reforms that immediately reduce federal spending and stop our nation from digging itself further into debt. For decades, Washington has blindly increased the debt limit while doing little to stop spending money that it doesn’t have, a dangerous pattern that must end. As S&P made clear, getting spending and our deficit under control can no longer be put off for another day, which is why House Republicans will only move forward on the President’s request to increase the debt limit if it is accompanied by serious reforms that immediately reduce federal spending and end the culture of debt in Washington.”  

2013 House Calendar

ERIC CANTOR

ABOUT ERIC

HOUSE SCHEDULE

NEWSROOM

MAKING LIFE WORK

CITIZEN COSPONSORS

CONTACT US

ERIC CANTOR