Franken: Deadlock On Debt Holding Back The Economy
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MINNEAPOLIS (WCCO) — The inability of the U.S. House and Senate to reach agreement on the debt ceiling debate is creating an uncertainty which is holding back economic recovery according to Minnesota Senator Al Franken.
“This is a really critical moment in our nation’s history,” said Franken.
Democrats and Republicans remain deadlocked with a Tuesday deadline quickly approaching.
“We can’t allow our credit rating to be downgraded,” said Democrat Franken.
He said everyone would be affected if the federal government defaults on debts.
“That means interest rates go up on everything,” Franken said.
President Obama, in his Saturday address, called for an end to political gamesmanship and for lawmakers to find a compromise.
Arizona Senator Jon Kyl delivered the Republican response and said Democrats need to work more closely with Republicans.
NewsRadio 830 WCCO’s Bruce Hagevik Reports