COLUMBIA, MO. -- Missouri Ninth District Congressman Blaine Luetkemeyer said out of control spending and a lack of leadership in Washington have resulted in President Obama presiding over the first downgrade of the United States credit rating in our history.
Investors with Standard and Poor’s downgraded the United States from its top status on Friday night.
America’s credit rating was lowered one step, from AAA to AA for the first time ever.
Luetkemeyer said members of congress are taking small steps to try to get federal spending under control and generate the revenue to get our economy back on track.
Luetkemeyer said, “It’s a two-folded solution to our problem here. We need to cut spending and generate revenues. We have to get our job creators back in the business of creating jobs. If you look at our budget, we do that. There are a lot of things in that budget that are very, very pro-jobs that are going to try and get our economy on track.”
Some republican leaders in Washington are calling for the resignation of U.S. Treasury Secretary Tim Geithner because of America’s downgraded credit rating.
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