Political Quotes

“On August 3 the United States will have $306 billion in obligations and $173 billion to address those obligations. At that moment, if the debt ceiling is not raised, our Nation for the first time in its history will default on its obligations. The cost of borrowing for small business, home mortgages, student and auto loans will all increase. This will hit hard every American and could push this economy into another recession. The American people want a serious and balanced approach to avoid disaster and deal with our Nation's debt problem. They want Congress to work in a bipartisan way to create jobs and new business investment. The House Republicans' short-term bill does nothing to create economic certainty necessary for sustained economic growth. Instead, it will keep the threat of default alive for months as a continuing drag on this economy. We need a real long-term bill to provide economic stability and certainty. We need a balanced bill that protects Social Security and Medicare, and we need a bipartisan bill we can pass quickly to prevent default. ____________________”