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  1. '96
  2. '98
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  4. '02
  5. '04
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  7. '08
  8. '10
  9. '12
  10. '15

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Occurrences in the Congressional Record

Entry Title Date
Restoring Americans’ Healthcare Freedom Reconciliation Act Of 2015 October 23, 2015
Earl Blumenauer, D-OR
"In less than two weeks unless Congress acts, America will default on our debt. When we came within one day of default in 2011, Republicans caused serious damage to the U.S. economy. The stock markets were hit hard, with the Dow Jones Industrial Average plunging 2,000 points in July and August of 2011. Standard & Poor’s, the ratings agency, downgraded the U.S. credit rating. As a result, taxpayers spent $1.3 billion more in interest payments because of the downgrade. In the four years since, due to the GOP’s continued brinksmanship, the S&P has not reversed that downgrade."
Providing For Consideration Of H.R. 3762, Restoring Americans’ Healthcare Freedom Reconciliation Act Of 2015; Waiving A Requirement Of Clause 6(A) Of Rule Xiii With Respect To Consideration Of… October 22, 2015
Louise Slaughter, D-NY
"So what we are going to do today is give everybody in the House of Representatives an opportunity to protect the full faith and credit of the United States and not risk another downgrade of our credit rating. To downgrade the credit rating of the United States was something that all previous Congresses felt was an impossible thing for them to allow."
Debt Ceiling October 21, 2015
Ruben Gallego, D-AZ
"Let’s not fool ourselves. Even if the Republican leadership does manage to pass a last-minute extension, the mere threat of a default will inflict real damage on the American economy. Economists tell us that the 2011 debt limit standoff cost American jobs and contributed to the downgrade of the U.S. credit rating, and we are repeating the same mistake today."
Default Prevention Act October 21, 2015
Tom McClintock, R-CA
"We keep hearing about the S&P downgrading our credit rating in 2011. Let me remind them that, for months prior to that downgrade, the S&P demanded that we reduce our 10-year projected deficit by at least $4 trillion or they would downgrade our sovereign debt. We ultimately only reduced it by $1.2 trillion because of the voices that we now hear raised against this bill, and the S&P followed through on that threat."
Fiscal Deadlines Facing America October 21, 2015
Benjamin Cardin, D-MD
"Delaying the decision to increase the debt limit jeopardizes our economy and our standing in the world. The mere suggestion that the Federal Government might miss a payment caused Standard & Poor’s to downgrade our sovereign credit rating from AAA to AA-plus after the 2011 debt limit standoff."

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