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Erwin responds to loss of Triple-A credit rating
PRESS RELEASE
July 11, 2005
July 11, 2005
News Release - For Immediate Release
Contact: Lachlan McIntosh (803) 799-7798
South Carolina Democratic Party Chairman Joe Erwin made the following
statement regarding today's gloomy news that under the watch of Governor
Mark Sanford, South Carolina has lost its Triple-A credit rating for only the second time ever. According to Standard & Poor's, the reduction is due to the state's high unemployment rate, inability to attract new jobs and the souring economy. South Carolina's rate of unemployment is significantly higher than that of neighboring states like North Carolina and Georgia.
"Mark Sanford's failures as Governor continue to get more serious everyday. He's done nothing to attract good jobs or to improve the state's economy. His apparent lack of understanding and concern about the state's job crisis is astounding. Losing the credit rating will cost the state tens of millions and will make it much more difficult to secure funding to build new schools, or even make repairs to damaged ones."
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