Increasing the Statutory Limit on the Public Debt

INCREASING THE STATUTORY LIMIT ON THE PUBLIC DEBT

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Mr. GRASSLEY. Mr. President, I urge my colleagues to vote in favor of final passage.

Raising the debt limit is necessary to preserve the full faith and credit of the U.S. Government.

We cannot as a Congress pass spending bills and tax bills and then refuse to pay our bills.

Refusing to raise the debt limit is like refusing to pay your credit card bill--after you've used your credit card.

The time to control the deficits and debt is when we are voting on the spending bills and the tax bills that create it.

Raising the debt limit is about meeting the obligations we have already incurred.

We must meet our obligations. Vote for this bill.

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