Paul Tonko: “This evening it is my pleasure to initiate discussion as to the events here in Washington as they affect our debt…”

“This evening it is my pleasure to initiate discussion as to the events here in Washington as they affect our debt ceiling limit. There is much attention being paid to the efforts for America to pay her bills, and obviously America's working families understand what it's all about. They understand that you work hard, you roll up your sleeves, you make ends meet, and you pay your bills on time. Well, the concern we have today is that as we attempt to get that phenomenon done--as we have many times over the last several years--the bills have been rung up, perhaps by those Members of Congress before us and by administrations before us; but nonetheless, they are bills that need to be paid. And as we go forward, I think it's important for us to recognize that the honorable thing to do is to acknowledge that we need to pay those bills so as not to accrue additional interest charges, pay them as soon as we can, and make certain that we don't draw all sorts of havoc and damage to the American economy and perhaps the international economy as we move forward with the saga of being able to pay our bills with a debt ceiling limit being addressed. Now, many Presidents have asked for this opportunity so as to be responsible in their administrative role, in their executive role. This President has now been addressing this issue. And we have brought in discussion to enable to authorize that debt ceiling limit being adjusted, that it should be accompanied by spending cuts.…”