SIFMA today issued the following statement from former Senator Judd Gregg, CEO of SIFMA, on today's debt agreement:
"SIFMA is very pleased that the President and Congress have worked together to resolve the threat of the U.S. defaulting on its debt. A default would have been severely damaging, undermining the economy and throwing the markets into disarray. Now that an agreement has been reached, the President and Congress should work to resolve the deficit and reduce the debt, as this is the primary cause of our fiscal problems. The extension of the debt ceiling to February 7th notwithstanding, it is critical that Congress and the Administration resolve their issues and avoid a replay of this crisis this winter by appropriately removing the threat of a voluntary default."
