Debt Ceiling

Floor Speech

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Mr. SCHUMER. Madam President, on the debt ceiling, one of Congress's top priorities this year is ensuring the United States does not default on its debt for the first time in our history. Even approaching a default would be disastrous for American families. The damages will show up on everything from people's credit card bills, their mortgage rates, and when applying for things as basic as a car loan. It risks thousands of dollars lit on fire for millions of American families. Everyone's life in this country will take many steps backward if we default.

Now, Republicans have done a lot of talking about cuts, but when it comes to actually showing us a plan for avoiding default, they are playing a dangerous game. Republicans, it is time to come out of hiding, put pen to paper, and show us your plan. Republicans, show us your plan.

According to some reports, Republicans want significant cuts across the board. But from where? Is funding for our troops safe? We don't know. Republicans, show us the plan.

Is funding for police and firefighters and first responders safe? Republicans, show us the plan.

Is funding for Social Security and Medicare safe, which some in that party, particularly on the MAGA wing, think should be cut? We don't know. Show us the plan.

The silence is unacceptable because the American people have a right to know whether they are going to see crucial services suddenly dry up. And if Republicans don't get their way, Americans have a right to know whether or not the hard-right GOPers are really prepared to lead the House Republican conference to push the United States to default and whether the Republican House, led by McCarthy, will follow them over that devastating cliff, sending costs spiking on everything from credit cards to auto loans, to mortgages.

We have seen in realtime how dangerous it is for Speaker McCarthy to have empowered the most extreme elements of the GOP to set the agenda in the House. The MAGA wing of the GOP, which has set the rules on how the House should run, has left no doubt that, under their watch, no form of funding, however necessary, is safe.

Democrats, meanwhile, have been very clear about our position. When it comes to the debt ceiling, there can be no brinksmanship, no threats, no hostage-taking. This is simply too important. It has to get done.

Republicans need to show their plan to the American people. The clock is ticking on the debt ceiling every day. We must make sure that a first-ever default doesn't occur. Yet Republicans are making it more and more likely.

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