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Sen. Coburn: "No Doubt" U.S. Credit Rating Will Get Another Downgrade

"S&P's downgrade on us was right. Matter of fact, we're going to get another downgrade. I can tell you right now," said Sen. Tom Coburn (R-Oklahoma). "You could have a great legal case for suing the rating agencies for not downgrading us again because we have not demonstrated the political will to solve the problems," he said in an interview with Bob Schieffer for Face to Face.

"We're going to see another downgrade. We should see another downgrade because we have not done the structural things that will fix our country. If you look what's getting ready to happen to us, in another five years, we're going to have $22 trillion worth of debt. We're going to have 120% of our total GDP in debt. If you look at historic interest rates, we're going to be paying $800 billion a year in interest. Where are we going to get that money?" he said.

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