Niki Tsongas: “Unless this Congress takes action on August 2, our Nation will stop paying our bills because we refuse to come together…”

“Unless this Congress takes action on August 2, our Nation will stop paying our bills because we refuse to come together and take shared responsibility. These bills pay for policies already purchased, such as the wars in Afghanistan and Iraq, the 2003 prescription drug benefit, tax cuts, and emergency measures to save our economy. Yesterday, House Republicans passed a bill that asked for sacrifices from seniors, veterans, and children but exempted corporations from giving up even their most egregious tax loopholes, like those that encourage shipping jobs overseas. That bill also all but guarantees a default by requiring a two-thirds vote from both Chambers before we can pay our bills. To return to the balanced budgets of the 1990s will require a long-term commitment from the entire country, a commitment that will only come if everyone contributes. We do not need to end Social Security and Medicare, as some would do. We can and must reduce the deficit in a balanced way that ensures the well-being of every American. ____________________”