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Luetkemeyer: Debt-ceiling debate a "wake-up call'

Luetkemeyer: Debt-ceiling debate a "wake-up call'

August 16th, 2011 in News

The political battle over the United States' debt situation will "continue to play out over the next several months," U.S. Rep. Blaine Luetkemeyer told Jefferson City Downtown Rotary Club members Monday.

Luetkemeyer, R-St. Elizabeth, said President Obama and House Speaker John Boehner, R-Ohio, came close to negotiating an agreement to resolve the national debt ceiling issue, but U.S. Senate Democrats blocked the bill - forcing congressional leaders to write and pass a different plan, leading to the Standard and Poor's bond ratings firm downgrading the U.S. government rating from AAA to AA+.

"The concern that I think everybody should have with regard to the debt-limit situation and the downgrade," Luetkemeyer told about 40 people at the Rotary Club's noon luncheon, "is that with (only one firm acting), it would be a small downgrade - more like a wake-up call for us than a kick in the gut."