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The Scoop

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Verbatim: Stutzman calls S&P rating 'obituary' for deficit spending

Rep. Marlin Stutzman, R-3rd, issued this statement Saturday:

Washington, D.C. – After ratings firm Standard & Poor’s declared that U.S. Treasury debt was no longer among the safest investments in the world and removed the triple-A rating that the U.S. has maintained for seventy years, Congressman Marlin Stutzman (IN-03) issued the following statement.

“Standard and Poor’s announcement that they lowered the United States’ long-term credit rating to AA+ must be the obituary for reckless deficit spending. For years, Washington avoided the tough decisions of leadership and chose instead to saddle our children with trillions of dollars in debt. Those days are over.”

“At a time when our nation borrows 42 cents on the dollar, increased spending, threats of tax increases, and more of Washington’s gimmicks aren’t the solutions that Americans demand — they’re exactly the policies that drove us into this ditch.”

“President Obama didn’t start us down this road but he certainly shifted into overdrive. Since he took office, the national debt has increased by $3.7 trillion. Just this spring, he asked for a blank check increase to the debt ceiling. S & P’s decision is more proof that the addiction is catching up to Washington. Unfortunately, the President has failed to offer a serious proposal to kick the habit and tackle the drivers of our debt. His colleagues in the Senate aren’t just opposed to balanced budgets. They’re opposed to any budget and haven’t passed one in well over 800 days.”

“I’m not going to squander time with half measures. The only serious plans are coming from the House. My colleagues and I are committed to getting our fiscal house back in order. We’ve passed our budget, The Path to Prosperity that cut $6.2 trillion over ten years and put our nation on a strong footing. We passed the Cut, Cap, and Balance Act to cut $5.8 trillion, cap spending at 20% of GDP, and send a Balanced Budget Amendment to the states. We have a long way to go but I’m confident we’ll see this through.”

Congressman Stutzman represents the 3rd Congressional District of Indiana and serves on the House Committee on Agriculture, the House Committee on the Budget and the House Committee on Veterans’ Affairs, Subcommittee on Economic Opportunity. Indiana’s 3rd District contains all of DeKalb, Kosciusko, Lagrange, Noble, Steuben, and Whitley counties, as well as parts of Allen and Elkhart counties.

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