Anna Eshoo: “I urge my colleagues to exercise restraint and pass a clean, long-term debt ceiling extension bill. Mr. Speaker, it's…”

“I urge my colleagues to exercise restraint and pass a clean, long-term debt ceiling extension bill. Mr. Speaker, it's time to quit playing games with the full faith and credit of the United States. We are playing with the funds of every citizen who invests in U.S. securities markets. In fact, one out of every three Americans invests in the U.S. securities markets, either directly or through mutual funds. In 1995, investors bought nearly $120 billion worth of funds that invest primarily in U.S. stock. Funds that invest primarily in American stocks had over $1.07 trillion in assets at year-end 1995. This is not an arcane technical issue affecting only a few major investors--it affects every citizen of the United States. The word of the U.S. Government is respected around the world and by every market--now, our credit-worthiness is at stake. I urge my colleagues to support an extension of the debt ceiling without controversial provisions that could endanger its enactment.”