–House Speaker Says Moody’s Shows Woes of ‘Inaction On Our Debt’
–‘Urgent Need’ For Pro-Growth, Fundamental Tax Reform
By John Shaw
WASHINGTON (MNI) – House Speaker John Boehner said Tuesday the
latest Moody’s report on U.S. fiscal policy released earlier in the day
underscores the fact that “inaction on our debt” is a major impediment
to job creation.
Boehner said in a statement the Moody’s report shows the “urgent
need” for pro-growth tax reform, strong controls on federal spending and
substantial entitlement reforms.
The White House has “consistently perpetuated the myth that
downgrades are caused by efforts to force the government to stop
spending money we don’t have,” he said.
But “Republicans have consistently put forth budgets that achieve
these pro-growth goals,” Boehner said.
Most Democrats have said the downgrading of the U.S. debt rating in
August 2011 was caused by the threats of some Republicans to allow the
nation to default on its debt and the chaotic negotiations that ensued
over legislation to increase the debt ceiling.
Earlier in the day, Boehner said he’s “not confident at all” that
he will able to reach a deficit reduction agreement with President
Barack Obama after the November election that would allow the nation
avert the fiscal cliff.
At a briefing with the House Republican leadership team, Boehner
blasted Obama on fiscal policy, blaming him for the failure of last
year’s budget talks.
The Speaker said the $110 billion in scheduled across-the-board
spending cuts for fiscal year 2013 and the expiration of the Bush-era
tax cuts at the end of the year are “two looming threats to the
economy.”
** MNI Washington Bureau: (202) 371-2121 **
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