Fitch Ratings Threatens Downgrade

WASHINGTON, D.C.—U.S. Senator John Thune (R-S.D.), Chairman of the Senate Republican Conference, today made the following statement regarding Fitch Ratings’ warning on America’s credit rating:

"Only a day after the president declared he would not negotiate on curtailing future government spending as the nation approaches the $16.39 trillion debt ceiling, today Fitch Ratings warned that America's AAA credit rating is at risk if Congress and the president increase the debt limit but fail to enact a ‘credible medium-term deficit reduction plan.’ Fitch’s statement is yet another call for substantial fiscal reform and should serve as a wake-up call to the president and Democrat leaders in Congress. The president’s insistence on raising the debt limit without putting the country on a more sustainable fiscal path is irresponsible and will risk a credit downgrade.”