On the recordJuly 13, 2011
sometimes it is very hard to find common ground in Washington. But there is one thing on which Republicans and Democrats agree: It is absolutely necessary that Congress prevent a catastrophic default on the Nation's debt that would put our economy at grave risk. I have said it, and so have my Republican colleagues. The business community is shouting out very loudly the same thing. This week, business leaders wrote to Congress--in fact, it was yesterday--and the White House to ask us to put our differences aside and avert a default crisis before it is too late. Literally hundreds of CEOs, including executives of some of the Nation's largest companies and the most respected business groups, signed the letter--more than 300. They wrote, ``This is a risk our country must not take.'' They said that if we don't reach a deal soon, the stock market will be in ``disarray.'' We all know that. We all know we cannot afford to have our country crash. Our economy is already struggling to stay on course to recovery. The U.S. Chamber of Commerce president Tom Donahue, who signed the letter, also said earlier this week that a default would have ``dire consequences for our economy, our markets, and Main Street Americans.'' Business leaders are begging us to do something and to do it quickly. That is why I was shocked to hear the Speaker of the House say yesterday that averting a default crisis was President Obama's problem, not his.…





