WASHINGTON – Today on the Senate Floor, U.S. Senator Amy Klobuchar (D-MN) urged her colleagues to suspend the debt ceiling. Klobuchar highlighted the consequences of defaulting on our nation’s debt, including forcing the government to decide between sending out social security checks, keeping promises to veterans, and getting paychecks to active military.
The full transcript of the floor speech as given below and video available for TV download HERE and online viewing HERE.
Suspending the debt ceiling is not about generating new spending. It’s about making sure the government can pay for our spending.
Since 1960, Congress has done this -- has raised the debt ceiling approximately 80 times. It’s not unusual, it’s not uncommon, it’s not unacceptable.
What is unacceptable is that our colleagues won’t even allow us to do it -- the 50 of us are united in this, and I say: “where are our Republican colleagues?” They know the fact -- a default will impact everyone. The government will need to decide between sending out social security checks, ensuring we keep our promises to our vets, keeping paychecks to active military.
It’s disastrous for our economy and small business. This year, Neil Bradley of the U.S. Chamber of Commerce said failing to “act responsibly” and provide an “increase in the [debt] limit” would “endanger our economy.” It would cause global markets, of course, to lose confidence in the full faith and credit of the United States.
The stakes are high. This should not be about scoring political points. Our families, our workers, our seniors deserve better. Democrats are united to stand by their side, and we say to our Republican colleagues, “Where are you?”
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