Will Congress, President Obama Heed New Warnings on National Debt?
Vote now on spending cuts, Radtke says
U.S. Senate candidate Jamie Radtke today again pressed the U.S. Congress and President Obama’s administration to get serious about reducing the budget deficit and the national debt in light of two ominous warnings from credit-rating firms.
Yesterday Moody’s and S&P warned the U.S. that its triple-A credit rating is increasingly shaky due to a deteriorating fiscal situation.
America’s credit rating is a measure of both international and domestic confidence in our nation’s ability to pay back loans. A downgraded credit rating means it is riskier to loan the U.S. money, so the government would have to pay higher interest rates to borrow money. America’s already-skyrocketing debt would balloon even more, and throw the country into a financial crisis that would require sudden and severe spending cuts and much higher taxes, causing an economic catastrophe.
“For years fiscal conservatives and the Tea Party movement have been sounding the alarm, and now two leading credit-rating firms are explicitly warning us that America’s triple-A rating is in danger thanks to the reckless spending by the politicians in Washington, D.C.,” said Radtke.
Radtke urged Congress to act immediately by using the upcoming vote on raising the debt ceiling as an opportunity to isolate the most critical decision: whether significant cuts are necessary now and not later.
“The people in charge of keeping our nation financially afloat continue to steer us toward a national catastrophe, even though every warning bell and flashing light in the bridge is going off,” Radtke said. “A ship captain or airline pilot who ignored such serious warning signals, risking the lives of their passengers, would be fired or even jailed.”
Article written by: Tom White
About Tom White
Tom is a US Navy Veteran, owns an Insurance Agency and is currently an IT Manager for a Virginia Distributor. He has been published in American Thinker, currently writes for the Richmond Examiner as well as Virginia Right! Blog. Tom lives in Hanover County, Va and is involved in politics at every level and is a Recovering Republican who has finally had enough of the War on Conservatives in progress with the Leadership of the GOP on a National Level.
- Web |
- More Posts (3937)
