DeGette Statement on Passage of Partisan Boehner Bill

U.S.Rep. Diana DeGette (CO-1) issued the following statement in response to passageof the House Republican's plan to address the looming default crisis. OnThursday, DeGette, who joined with the entire Democratic caucus in votingagainst Speaker Boehner's proposal, cosponsored H.R. 2663, the "America Paysits Bills Act," which would simply raise the debt ceiling to avoid the firstdefault crisis in our nation's history.

"Aswe stand four days away from the first default in our nation's history, theRepublican bill passed today may raise the debt ceiling for the near future,but it is an imbalanced approach to deficit reduction that disproportionatelypunishes the most vulnerable Americans, and, with its untenable balanced budgetamendment timeline, sets the stage for likely default in six months. Thattimetable systematically continues the blanket of uncertainty this debate hasplaced over our economy, virtually ensuring a downgrade to the US credit ratingand an economic crisis for our nation.

"Withthe markets already reacting to the gridlock in Washington, it is time to payour bills, avoid a default crisis that would send interest rates skyrocketing,and then focus on getting our fiscal house in order. We must reduce ourdeficit, pay down our debt, and ensure the long-term solvency of SocialSecurity and Medicare. These issues deserve balanced and thoughtful solutions;not to be held hostage to preserving the full faith and credit of theUS."

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