Political Quotes

“Mr. President, I ask unanimous consent that reading of the amendment be dispensed with. The PRESIDING OFFICER. Without objection, it is so ordered. The amendment is as follows: (Purpose: To require that the Government prioritize all obligations on the debt held by the public in the event that the debt limit is reached) At the appropriate place, insert the following: SEC. ___. FULL FAITH AND CREDIT ACT. (a) Short Title.--This section may be cited as the ``Full Faith and Credit Act''. (b) Prioritize Obligations on the Debt Held by the Public.--In the event that the debt of the United States Government, as defined in section 3101 of title 31, United States Code, reaches the statutory limit, the authority of the Department of the Treasury provided in section 3123 of title 31, United States Code, to pay with legal tender the principal and interest on debt held by the public shall take priority over all other obligations incurred by the Government of the United States.”