The decision by S&P is the latest consequence of the out-of-control spending that's taken place in Washington for decades. The spending binge has resulted in jobs destroying, economic uncertainty, and now threatens to send destructive ripple effects across our credit market.
Boehner blames out-of-control spending in Washington for the downgrade of America's credit rating.
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The modern Republican Party is filled with, as John Boehner put it, people who spend more time tearing things apart than actually building anything.
If we had somehow been able to do that deal, we would not be having to negotiate this situation now with $20 trillion in debt.
It's become clear to me that this prolonged leadership turmoil would do irreparable harm to the institution. So this morning I informed my colleagues that I will resign from the speakership and resign from Congress at the end of the…
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