In response to the latest fiscal alarm bells set off by S&P, House Budget Committee Chairman Paul Ryan issued the following statement:
"We face the most predictable economic crisis in our history -- a crisis driven by the explosive growth of government spending and debt. House Republicans took action last week to chart a new course by passing a budget that lifts our crushing burden of debt and puts our economy on the path to prosperity. By contrast, the President's budget locks in Washington's recent spending spree, adds $13 trillion to the debt over the next decade, and accelerates our nation toward a fiscal crisis. The failure to advance solutions threatens not only the livelihoods of future generations, but also the economic security of American families today. A campaign speech is no substitute for a serious, credible budget. The President and his party's leaders must put an end to empty promises and work with us to avert this looming economic crisis."
To learn more about House Republicans' plan to avert the crisis and chart a better future: http://budget.house.gov/fy2012budget