Prevent a Default

Floor Speech

Mr. POLIS. Mr. Speaker, the Speaker of this Chamber has a choice to make with 3 1/2 days remaining until we risk default on our debt. And what does that mean to American families? It means higher interest rates on your variable home mortgage. It means higher interest rates on your credit card debt. For our own Federal Government, as well as local and State governments, it means more of our taxpayer money will have to go to interest to service these existing debts.

At this point, the Speaker of this body has a choice. To be sure, he has a negotiation ahead of him. He has compromise ahead of him. He can choose to negotiate and compromise with only those in his own party further to the right than he is within this very body, or to compromise and come to a deal with those who matter and can actually pass something into law that prevents a default.

Namely, I call upon the Speaker to continue negotiations with the President of the United States and the Senate of the United States to resolve this self-caused crisis within 3 1/2 days and avert a fate that will cost middle class families and taxpayers trillions of dollars.

Source