SEN KIRK'S STATEMENT ON THE S&P's Negative Outlook on US Debt
The coming legislation on the Debt Limit offers the chance to save the dollar and our economy. If we miss this chance or if Congress sends the President a blank check, then the following quote from S&P is a stark warning for our future: 'We believe there is a material risk that U.S. policymakers might not reach an agreement on how to address medium- and long-term budgetary challenges by 2013; if an agreement is not reached and meaningful implementation is not begun by then, this would in our view render the U.S. fiscal profile meaningfully weaker than that of peer ‘AAA’ sovereigns.' "
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