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July 26, 2011


Boehner Plan Would Lead to Downgrade

House Speaker John Boehner claimed last night if President Obama simply signed the House legislation he has introduced, which would raise the debt ceiling in two stages, the "crisis" atmosphere over the nation's credit rating would simply disappear.

However, CNN reports that Boehner's debt plan would actually not meet the threshold of ratings agencies to avoid a downgrade of the naton's debt while Sen. Harry Reid's debt plan would would preserve the country's AAA credit rating.

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