China to Dems: Get Serious on Deficit Reduction

July 19, 2011

FYI, a similar version of this release below went out to the following districts: Jason Altmire (PA-04), Sanford Bishop (GA-02), Tim Bishop (NY-01), Leonard Boswell (IA-03), Bruce Braley (IA-01), Dennis Cardoza (CA-18), Lois Capps (CA-23), Russ Carnahan (MO-03), Kathy Castor (FL-11), Ben Chandler (KY-06), David Cicilline (RI-01), Gerry Connolly (VA-11), Jim Cooper (TN-05), Jim Costa (CA-20), Jerry Costello (IL-12), Mark Critz (PA-12), Henry Cuellar (TX-28), Peter DeFazio (OR-04), Raul Grijalva (AZ-07), Brian Higgins (NY-27), Jim Himes (CT-04), Ruben Hinojosa (TX-15), Kathy Hochul (NY-26), Tim Holden (PA-17), Rush Holt (NJ-12), Steve Israel (NY-02), Bill Keating (MA-10), Dale Kildee (MI-05), Ron Kind (WI-03), Larry Kissell (NC-08), Rick Larsen (WA-02), David Loebsack (IA-02), Jim Matheson (UT-02), Carolyn McCarthy (NY-04), Mike McIntyre (NC-07), Jerry McNerney (CA-11), Michael Michaud (ME-02), Brad Miller (NC-13), Bill Owens (NY-23), Frank Pallone (NJ-06), Ed Perlmutter (CO-07), Gary Peters (MI-09), Collin Peterson (MN-07), Chellie Pingree (ME-01), David Price (NC-04), Nick Rahall (WV-03), Mike Ross (AR-04), Loretta Sanchez (CA-47), Kurt Schrader (OR-05), Heath Shuler (NC-11), Adam Smith (WA-09), Betty Sutton (OH-13), John Tierney (MA-06), Niki Tsongas (MA-05), Pete Visclosky (IN-01), Tim Walz (MN-01), David Wu (OR-01), John Yarmuth (KY-03)

China to Chandler: Get Serious on Deficit Reduction
Even the Communist Chinese Government is Joining Calls for Real Debt Reduction as Kentucky Democrat Continues to Spend and Borrow

Washington — Ben Chandler and his fellow Democrats continue to fight every effort to get their spending and borrowing spree in Washington under control, but it is clear they are becoming increasingly isolated. In addition to financial experts and the American people, now even the Communist Chinese government is saying Chandler’s non-stop spending binge is grossly irresponsible and must be reversed. Chandler remains increasingly alone in his desire to continue growing the size of government and it seems everyone else recognizes the dire consequences if his big-government policies continue unabated.

“When the Communist Chinese government tells Ben Chandler and his fellow Democrats that their government spending binge is too big, that’s a pretty bad sign,” said NRCC Communications Director Paul Lindsay. “Chandler seems to be one of the few people left fighting to advance his disastrous Democrat spending and borrowing spree, ignoring the wishes of middle-class families and small businesses in Kentucky who simply want the government to live within its means just like they have.”

Financial experts said the continuing lack of a deficit reduction plan from Washington could likely result in a credit rating downgrade, roiling financial markets:

“Standard & Poor’s says there’s a 50 percent chance it will downgrade the credit rating for U.S. debt in the next 90 days.

“If the agency believes Congress and the White House cannot reach a ‘credible solution to the rising U.S. government debt burden,’ it could lower the rating several notches, down into double-A territory. Such a move would significantly drive up borrowing costs for the federal government, and in turn roil global markets which widely treat Treasury bonds as risk-free assets.” (Peter Schroeder, “S&P sees a 50 percent chance of downgrade for US credit rating,” The Hill‘s On The Money Blog, 7/14/11)

And even the Communist Chinese government is recognizing the dangers of the unrelenting spending spree, leaving the Democrats as the sole defenders of their failed policies:

“China has publicly joined calls for the U.S. to get its financial house in order. ‘We hope that the U.S. government adopts responsible policies and measures to guarantee the interests of investors,’ Hong Lei, a Foreign Ministry spokesman, said Thursday, according to the New York Times. Lei was asked about a warning from Moody’s that the credit rating agency was prepared to review the U.S. AAA status.” (Tom Nagorski, “China To U.S.: Raise the Debt Ceiling,” ABC News’ The Note Blog, 7/14/11)

Even though Ben Chandler and his fellow Democrats continue to cling to their big-spending ways, everyone, from financial experts to the Communist Chinese government, is now saying these policies will result in disaster. Meanwhile, Chandler seems oblivious to everyone, including his own constituents in Kentucky, who just want the federal government to act responsibly and stop spending money it doesn’t have.

China to Dems: Get Serious on Deficit Reduction #madeinwdc