On the recordOctober 25, 2011
Yesterday we learned that by the end of this year another ratings agency may downgrade our Nation's sovereign debt. Why? Because they don't believe there's a plan to return our Nation to fiscal health. Well, they're not entirely right. In July, we passed the Cut, Cap, and Balance Act. It was a commonsense solution that would have maintained our Nation's strong credit rating. The bill went to the cul-de-sac called the Senate where, as so many things have, it died. Maybe that's not surprising. Cut, Cap, and Balance would not only have cut spending, it would have changed the way Washington works. It would have made structural change. For a do-nothing Senate that has not bothered to pass a budget in over 900 days, the idea of spending cuts and fiscal accountability must be utterly foreign. Once again, we see the high cost of their inaction. ____________________
