On the recordAugust 2, 2011
over the past 2 years, our country has been struggling to recover from one of the worst economic recessions in our history. Democrats have worked to pass legislation that would create jobs. It has been our top priority. But at every turn, we faced resistance from ideologues who care more about winning political points and protecting the wealthy than doing what is right for hard-working American families. That is exactly what happened during this debt-ceiling debate. Instead of passing a clean extension and getting to work on our economy, we have been forced to vote on a last-minute deal to prevent the economic catastrophe that would result in default. I spent the last few weeks and months highlighting the real-life consequences of default for New Mexico families. At a time when families are already dealing with extremely tight budgets, a default would mean increased costs for just about everything, from food, to gas, to housing, to sending the kids to college. It would also jeopardize critical Federal benefits that veterans, seniors, and others depend on to pay the bills and stay healthy. It would mean more than 360,000 New Mexicans would be in danger of losing their Social Security benefits. It would mean another 300,000 who rely on Medicare seeing their health care disrupted. It would mean 174,000 New Mexico veterans may not receive their benefits, and more than 1,400 Active-Duty military personnel may not receive paychecks for their services.…
Source
govinfo.gov




