Political Quotes

“I thank the distinguished gentleman for pointing out some of the catastrophic consequences that the American people will be forced to endure if we fail to raise the debt ceiling and force a default and threaten the full faith and credit of the United States of America for the first time in the history of the Republic. I just want to go over some of the things that would be at stake as a few of my colleagues have already laid out, but it bears reemphasis: Social Security payments owed to the American people will be jeopardized by a failure to raise the debt ceiling; Veterans benefits will be jeopardized by a failure to raise the debt ceiling; Mortgage interest rates could increase as a result of a failure to raise the debt ceiling; Automobile loan interest rates could increase as a result of a failure to raise the debt ceiling; Credit card payments as a result of an increase in interest connected to debt that is held on American Express or MasterCard or Visa, or any of the other credit cards that the American people have, could increase as a result of a failure to raise the debt ceiling. This is not an esoteric concept. This is something that will have a real impact on the American people. That is why we need a debt ceiling increase consistent with what every Congress and every American President has done since the founding of this country.…”