[Congressional Record (Bound Edition), Volume 155 (2009), Part 23]
[House]
[Page 30785]
[From the U.S. Government Publishing Office, www.gpo.gov]




          UNITED STATES IN DANGER OF LOSING ITS CREDIT RATING

  (Mrs. SCHMIDT asked and was given permission to address the House for 
1 minute and to revise and extend her remarks.)
  Mrs. SCHMIDT. Mr. Speaker, I rise again this morning to remind this 
body that we must stop this runaway spending in Congress or we are in 
jeopardy of losing our AAA credit rating. This would greatly hurt the 
United States of America's credit.
  Moody's Investment Services indicates the United States will lose its 
AAA rating in 2013 if Congress continues to put us on this fiscal train 
wreck of too much spending and record Federal deficits. The Federal 
deficit for 2009 was $1.4 trillion, tripling our record. The 
President's own Office of Management and Budget estimated in August 
that the budget deficit would be more than $9 trillion over the next 10 
years. Add this to the $12 trillion in U.S. debt, and we're on a track 
to nearly double our record.
  Mr. Speaker, we must stop the spending and stop it now.

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