Bob Turner's Tea Party Leads Nation to First-Ever Credit Downgrade

The campaign of David Weprin, Democratic Candidate for Congress in New York's Ninth Congressional District, released the following statement regarding an announcement late yesterday by Standard & Poor's that the agency had down graded the United States' credit rating because of evidence that the political climate in Washington is incapable of producing fiscally responsible policy. This is the first downgrade of U.S. credit in the nation's history.

"Republican Tea Party extremists brought this upon the nation with their outrageous and irresponsible demands. They held the world economy hostage to their demands to end Medicare and Social Security, and this downgrade is the consequence of their dangerous game that played chicken with the world economy. Now, middle class families could pay the price in higher interest rates on student loans, car payments and home mortgages, as well as potentially higher unemployment.

Bob Turner's Tea Party allies forced this downgrade because they insisted on keeping in place tax subsidies for Big Oil and tax loopholes for billionaires. We need leaders in Washington like David Weprin who will support a comprehensive, balanced plan to reduce the federal deficit that focuses on closing those loopholes, cutting taxes for small businesses, protecting Medicare and Social Security from devastating cuts and privatization, and putting Americans back to work."

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