On the recordJanuary 25, 1996
I can think of nothing more foolish for the Congress to do than to refuse to extend the debt ceiling so that we go into default on our credit, so that we find ourselves in a position where we cannot send benefit checks that millions of Americans are expecting. And then the incredible long-term impact; when we look at the long-term potential of balancing the budget, one of the important ingredients that we manage is interest costs. If we are going to do foolish things now, playing political games, we may jeopardize our ability to reach any type of balanced budget over the next several years, simply because we are going to drive the interest cost factor in the Federal Government out of sight. It is foolish. It hurts people. It hurts other units of government and for no good, no good reason.
Source
govinfo.gov
