Statement by Governor George E. Pataki, Honorary Chairman of No American Debt on Moody's Notice on Debt Rating

NEW YORK, June 3, 2011 /PRNewswire-USNewswire/ -- "The action by Moody's to put America's debt rating 'on notice' is a sobering reminder of the consequences of failed leadership.  Time and again President Obama has failed to step up and engage in a constructive dialogue on real spending and deficit reductions. President Obama's latest mantra that America does 'big things' rings hollow against the backdrop of our nation's gargantuan $1.65 trillion deficit and monstrous $14.3 trillion debt.  America's ability to do 'big things' will be compromised for future generations of Americans if we fail to act now."

SOURCE No American Debt