May 6, 2021

Courtney speech on default crisis; “Downgrade is as bad as default”

Congressman Courtney spoke yesterday on the House floor in favor of a balanced solution to address our default crisis and prevent economic catastrophe. Citing a CNN report prior to Speaker Boehner’s speech the night before, Congressman Courtney highlighted that even if the Speaker’s plan passes, ratings agencies still may downgrade U.S. Treasury bonds from their current AAA rating, driving up lending costs and damaging a fragile economy.