Mayor Jones Calls for Shared Sacrifice and Compromise On Federal Debt Ceiling
~Cites city poverty and economic vulnerability concerns~ Mayor Dwight C. Jones issued the following statement today: After listening to President Obama last night, I am compelled to speak out about the need for Congress to move forward responsibly on issues of great economic impact – addressing the debt crisis and the Federal budget. “It might be interesting to sit back and watch the partisan wars in Washington, if the stakes were not so high. And, the stakes are high – for the world economy, for the stability of the U.S. markets, and for our state and local governments. Virginia is a state with a AAA bond rating – something that the City of Richmond has been working hard to attain. Just recently, Moody’s warned that it may have to review Virginia’s rating in light of the instability in the U.S. economy. In fact, the U.S. government’s AAA bond rating could be downgraded. All of this troubles me greatly, and it has the same effect on my colleagues at both the state and local level...