On the recordJanuary 23, 2013
I yield myself 15 seconds just to say that Standard & Poor's downgraded the U.S. credit rating on August 5, after the Budget Control Act was passed. In doing so: The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics. With that, Mr. Speaker, I yield 2 minutes to a distinguished member of the Ways and Means Committee and chairman of the House Budget Committee, the gentleman from Wisconsin (Mr. Ryan). (Mr. RYAN of Wisconsin asked and was given permission to revise and extend his remarks.)
