Richard Gephardt: “let me explain why this is a question of privilege and why this Congress must act to extend the debt limit, with no…”

“let me explain why this is a question of privilege and why this Congress must act to extend the debt limit, with no threats or conditions, to preserve the integrity of this entire Government. Rule IX of this House states very clearly that matters of privilege are those affecting the House collectively, those affecting its dignity and integrity, and those affecting the reputation of Members in their representative capacity. I ask every Member of this Congress today, how can the dignity and integrity of this Congress be maintained if we tear down the dignity and integrity of this country? How can any single Member of the 104th Congress maintain our reputation and honor if we go down in the history books as the Congress that broke America's word, the very first Congress that dared to tarnish America's trust in the world. Mr. Speaker, I know there are enough Democrats and Republicans to extend the debt limit and avoid this crisis right now, if we could only have that vote on the floor. It is unfair to all of us to have our rights, our reputations, our good names dashed for what I believe is a partisan purpose. Some of our Republican colleagues are threatening to default on America's financial obligations, to turn our backs on seniors who need their Social Security checks, taxpayers who deserve their refunds, people throughout the world have invested in America. There is no question that economic chaos would follow even a day of default.”