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Republican Default Act

Floor Speech

Date: July 28, 2011
Location: Washington, DC
Issues: Senior Citizens Entitlements and the Safety Net Government Budget and Spending

Mr. PETERS. Mr. Speaker, I rise today in opposition to the Republican Default Act, which will require deep cuts in Medicare while preserving tax breaks and loopholes for millionaires and large corporations. It is beyond disappointing that Republicans have squandered a real opportunity to put our Nation on a sustainable fiscal path.

Many of my constituents are afraid the Republican leadership will continue bending to the Tea Party demands to drive our economy toward a self-inflicted recession.

The risks here are very real. Default or a credit downgrade will hurt middle class families with higher mortgage and credit card interest rates and higher costs for food, gas, and utilities.

Republicans need to stop playing reckless games with our economy and start working for what the American people want: comprehensive deficit reduction that shares the burden equally, strengthens Medicare and Social Security, ends tax giveaways, and puts our country back on the path to fiscal stability.


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