Carolyn Maloney: “I have never been more concerned about our Nation's economic security and future. Just this week, Moody's warned that…”

“I have never been more concerned about our Nation's economic security and future. Just this week, Moody's warned that the U.S. may lose our top-notch AAA credit rating if we fail to increase our Nation's debt ceiling. Economists say that if we fail to do so, it will put not only our national capital markets in turmoil, but the capital markets internationally in turmoil. It will hurt American wages and jobs. The stock market will tank. A letter signed by hundreds of senior company executives and organizations agrees. It said, and I quote: ``Treasury securities influence the cost of financing not just for companies, but more importantly for mortgages, auto loans, credit cards, and student debt.'' And yet some Members of this body have said that under no circumstance whatsoever will they ever vote to raise the Nation's debt ceiling. However heartfelt this may be, it is nothing short of a threat to commit economic suicide. ____________________”