Statement by Congressman Todd Platts on the Downgrading of the U.S. Credit Rating
"The decision by Standard and Poor's (S&P) to downgrade the credit rating of the United States is an unmistakable warning that we are failing in our duty to pass on to our children and grandchildren a stronger Nation than we ourselves inherited. Our national debt currently exceeds $14 trillion and we are borrowing more than 40 cents of every dollar we spend. This failure to control spending has created economic uncertainty that threatens to seriously disrupt our financial markets and continue to stifle job creation. Washington’s failure to adequately control spending is unacceptable.
Families across America are forced every day to tighten their belts and learn to do more with less. So should Washington. The United States House of Representatives has begun the process of restoring fiscal responsibility by voting to cut government spending by trillions of dollars, enacting systemic changes to control spending in the future, and helping to ensure that Washington is held more accountable to the American people. Yet more clearly must be done. I will continue my efforts to help enact real solutions to the financial challenges facing America."
Web Page Highlights (www.house.gov/platts)
Statements on Debt Ceiling Votes
Rep. Platts issued statements following votes on two bills passed by the full United States House of Representatives related to the debt ceiling. The first bill, called "Cut, Cap, and Balance," passed by a vote of 234-190 in the House but subsequently failed to pass the Senate. The second bill, called "the Budget Control Act," passed by a vote of 269-161 in the House and 74-26 in the Senate. The statements on both bills are posted on the web site.
(http://www.house.gov/apps/list/speech/pa19_platts/st_20110720_cutcapbalance.shtml)
(http://www.house.gov/apps/list/speech/pa19_platts/debtceiling.shtml)
Statement on Oversight Hearing Regarding Waste, Fraud, and Abuse in the Medicare Program
The Subcommittee on Government Organization, Efficiency and Financial Management, chaired by Rep. Platts, conducted a hearing on waste, fraud, and abuse in the Medicare program. A copy of Rep. Platts’ opening statement is posted on the web site.
(http://www.house.gov/apps/list/speech/pa19_platts/medicarehearing.shtmll).
Other Key Votes
The following is a list of some additional key votes taken by the United States House of Representatives in recent weeks:
Cut Appropriations for Legislative Branch (H.R. 2551)
The House voted 252-159 to pass legislation (H.R. 2551) cutting appropriations for legislative agencies and its own operations by 7% over the current fiscal year. Rep. Platts voted in favor of H.R. 2551.
Reauthorize the FAA (H.R. 2553)
On July 20, the House voted 243-177 to pass legislation (H.R. 2553) continuing the authority of the Federal Aviation Authority (FAA) while reforming a program that subsidizes certain rural airports, thereby saving an estimated $16 million per year. The Senate failed to act on the bill until August 5, resulting in a partial shut-down of the FAA in the meantime. Rep. Platts voted in favor of H.R. 2553 and therefore in favor of avoiding a shut-down.
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