Disapproval Resolution Relating to Debt Limit Increase

Floor Speech

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Mr. WELCH. I thank the gentleman.

Madam Speaker, the course of action that is being proposed by the Republican majority is two things: One, it's reckless and irresponsible; and, two, it's cynical and very political.

First of all, why is it reckless and irresponsible? It is because this country has never seriously considered defaulting on its obligations, saying ``no'' to paying its bills. What great country would ever seriously suggest to its citizens that it will stiff its creditors, with all of the economic chaos that would ensue?

Also, the reason that we have to raise the debt ceiling is not so we have permission to spend more money. It's to meet obligations that have been incurred. Many of those obligations, incidentally, are for expenditures that I opposed but you supported: the war in Iraq; the extension of the Bush tax cuts; the Medicare prescription drug part D that was never paid for; the extension of the Bush tax cuts a year ago December when it was going to add $800 billion to the 10-year deficit, but even then, in order to accommodate that, you wouldn't raise the debt ceiling. So that's the irresponsible part of this proposal.

Obligations incurred are obligations that must be paid. I was against the Iraq war. I didn't want to spend that money. Had I been here, I would have voted against the Bush tax cuts because I thought it was bad policy. But, as a Member of Congress, those were congressional obligations, I believe, that we and I have an obligation to stand behind.

But secondly, the reason I believe this is cynical and political is two things: First, these budget requirements are ones that were incurred, in many cases, at the advocacy of our Republican majority. Secondly, this process that we're now doing is one that was designed to allow people who wanted to stand up and vote ``no'' against extending the debt ceiling the opportunity to do so so that they could claim they were against it, even though it was designed as well to guarantee that the debt ceiling would be raised, just putting the full burden of making that happen on the President of the United States.

I'm glad that he's willing to bear that responsibility. But I question whether the American people are fooled by a congressional maneuver whereby the majority is saying that we want to say no, that we're against raising the debt ceiling, even though we've guaranteed a process by which it will happen.

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