Sheila Jackson Lee: “There are just 9 more legislative days to act fully to protect the full faith and credit of the United States before…”

“There are just 9 more legislative days to act fully to protect the full faith and credit of the United States before November 3 in order to prevent the risk of a first ever U.S. default. We know that a default is not what the American people want. It could shatter retirement savings and send interest rates for mortgages, student loans, credit cards, and car payments soaring. We know that even a threat of default has serious consequences. We have experienced a downgrading in our credit before because our friends on the other side of the aisle--Republicans--took us to the catastrophic brink. And then, of course, we realized that what we did today, Pay China First Act, does not help the American people. If we continue on this pathway, we will impact 1.4 million Active- Duty troops by not paying our debt, 4.1 million disabled veterans who served their country with honor by not paying our debt, 2.3 million veterans who receive home purchasing assistance by not paying our debt, American small businesses that sell goods and services to the government and most doctors and hospitals that treat the 53.8 million Medicare patients around the country by not paying our debt. We cannot hold the United States hostage or our credit hostage. It is time to address in a fair and reasonable manner the debt of the United States, which is the people of the United States.…”