GARY JOHNSON SAYS CREDIT DOWNGRADE IS BAD, REASONS FOR IT WORSE

August 6, 2011, Santa Fe, NM – Presidential candidate Gary Johnson released the following statement regarding the downgrade of the U.S. credit rating by S&P:

"Losing our AAA credit rating is obviously bad.  The reasons for it are much worse, much more important, and not complicated.  Everyone from our largest creditor, China, to the 14 million Americans who are unemployed get the simple reality that a $14.6 trillion debt is unsustainable.  They also get that simply raising our credit limit is not an economic policy and certainly not a solution.  Washington can dance around reality all they want, but there is only one way to get us off the path toward financial disaster: Enact real spending cuts now -- not ten or twenty years down the road, and balance the budget."


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About Presidential Candidate Gary Johnson: Gary Johnson, a Republican and two-term Governor of New Mexico from 1994-2002, has been a consistent and outspoken advocate for limited, efficient government and personal liberty.