Matt Cartwright: “I thank the distinguished gentleman from Colorado for yielding. It is true. Today, in the Congress, the Treasury…”

“I thank the distinguished gentleman from Colorado for yielding. It is true. Today, in the Congress, the Treasury Secretary of the United States, Janet Yellen, testified that we will run out of borrowing ability on October 18, next month. What this is, is a pernicious, dangerous threat to the United States of America that is happening right now. A lot of people don't realize it because, as Mr. Neguse just mentioned, extending or suspending the debt limit has been a routine, a normal thing for us to do, something that, in the words of Senator McConnell himself, is essential for keeping our economy moving, protecting American jobs, and preserving the livelihoods of many, many Americans. So the question is, what are we doing? Why do we have to do this? Why do we have to stand here tonight and stand up for the full faith and credit of the United States? It is because the economy depends on it, not only the economy of America, but the economy of the world depends on the full faith and credit of the United States of America. Credit is vital to the operation of any economy. Any businessperson knows that. Every businessman, every businesswoman knows that his or her business runs on their credit and their credit rating. They know that credit, every loan, every loan decision, is based on the strength of the promise to repay, and that is what we are talking about here. If a promise to repay a loan isn't strong, that loan is not made.…”