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Last updated on Monday, August 8, 2011
(UNDATED) - Indiana Treasurer Richard Mourdock is calling for the resignation of U.S. Treasury Secretary Timothy Geithner following the S&P’s downgrade of the country’s credit rating.
Mourdock says the lowering of the U.S. credit rating from AAA to AA+ is a direct result of raising the debt limit without providing enough spending cuts. He says the U.S. will now see higher interest rates for the U.S. Government which will lead to higher interest rates across the board.
Mourdock says the lowering of the credit rating will not greatly affect Indiana government. Mourdock, who is running against Senator Richard Lugar in the 2012 Republican primary, says President Obama should fire Timothy Geithner and if that doesn't happen, the senate should withdraw its consent of Geithner's appointment to the U.S. Treasury.
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