Congressman Bill Huizenga says the downgrading of the U.S. credit rating by Fitch this week is the result of both government dysfunction and out of control debt. Fitch this week announced the downgrade of U.S. debt from a AAA rating to AA+. It cited “a steady deterioration in standards of governance” over the past couple of decades as being a major reason for the move. Huizenga says this is very serious.
“One, clearly there is a lack of stability in the process and the system that has certainly affected that,” Huizenga said. “But what has brought along that lack of stability has been this onslaught of spending that has occurred in the last couple of years that has brought us to this brink.”
Huizenga says the U.S. debt is $32 trillion, adding the nation will soon be unable to pay on the interest if it continues piling on. That’s why he has joined with other members of Congress for a new Bipartisan Fiscal Forum. They’re talking about the debt and spreading awareness of its dangers.
