code works on all the asserts solutions but doesn't work on "Lorem ipsum dolor sit amet" for some reason it adds "o's" that aren't there (if that makes any sense). i have been working on this for a couple of days and still haven't figured it out. need help....

def checkio(text):
    lowertext = text.lower()
    newtext = {}
    for i in lowertext:
        if i == " " or i == "!":
            continue 
        elif not i in newtext:
            newtext[i] = 1
        else:
            newtext[i] += 1

    return max(newtext.iterkeys(), key=(lambda key: newtext[key]))[0]