July 13,2011

Press Contact:

Julia Lawless, Antonia Ferrier, 202.224.4515

Hatch on Moody’s Credit Rating

WASHINGTON – U.S. Senator Orrin Hatch (R-Utah), Ranking Member of the Senate Finance Committee, issued the following statement this evening after Moody’s Investor Services placed America’s bond rating under review:

“While the credit standing of our nation burns, the White House fiddles.  Enough of the President using the debate over the debt ceiling to strike fear with our nation’s seniors.  Enough of the populist talking points about jets and yachts.  It’s time for real action that cuts spending in a meaningful way. 

“But rather than work with Republicans, the President’s playing a cynical political game instead of showing the real leadership our nation deserves.  What’s worse, he’s risking the financial future of our nation for tax hikes on the most economically-productive segments of our economy when our unemployment rate stands at 9.2 percent. 

“Over the past year, this President has heard the growing chorus of warnings of unsustainability in our finances and risk of financial catastrophe.  Nevertheless, he put forward a budget that couldn’t gain support of even a single member of his party.  He ignored the advice of his fiscal commission.  And he claims to have proposed a second budget in the form of a speech that the non-partisan Congressional Budget Office acknowledged is a ploy that it can’t assign budget numbers to.  I urge this administration to get off of the campaign trail and work with us to put the nation on a sustainable fiscal path.”