Hoyer Statement on Two-Year Anniversary of the S&P Credit Downgrade

For Immediate Release:

August 5, 2013

Contact:

Stephanie Young, 202-225-3130

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the two year anniversary of S&P's downgrade of the U.S. credit rating in 2011:

“Today marks the two year anniversary of the first credit downgrade of the U.S. government in our history, which was the direct result of Republicans holding our debt ceiling hostage in a partisan effort to score political points.  Their reckless and irresponsible act of taking our nation to the brink of default highlights the danger posed by a fractured Majority that refuses to compromise or make real progress on achieving fiscal discipline and job creation. 

“Instead of taking our nation to the brink of default once again, Republicans should work with Democrats to reach a compromise on a big, balanced solution to deficits that can replace the sequester and provide certainty to our markets, businesses, and families.  I hope that, when we return in September, Congress can get to work right away on bipartisan measures to avoid another manufactured crisis over the debt ceiling that could put our creditworthiness at risk once more.”

###