Van Hollen Response to Standard and Poor's Downgrade

Press Release

Maryland Congressman Chris Van Hollen, Ranking Member of the House Budget Committee, issued the following statement following the decision by Standard & Poor's to downgrade the U.S. credit rating from AAA to AA+:

"The most important thing we can do to restore confidence and improve the fiscal situation is to get the economy moving and put people back to work. That immediate focus should be coupled with a long term plan to reduce the deficit. Every bipartisan group that has examined those issues has warned that immediate and deep cuts will harm the recovery while failure to the address long term deficits will hamper long-term economic growth."

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