Lipinski Votes for Reid Bill to Reduce the Deficit and Raise the Debt Ceiling as a Step in the Right Direction, Calls for Further Efforts to Reach a Bipartisan Deal (July 30, 2011)
Today, Congressman Dan Lipinski (IL-3) voted for Senate Majority Leader Harry Reid’s debt-ceiling proposal because it effectively provides for a longer-term increase in the debt ceiling, thereby eliminating uncertainty, and lays the foundation for a bipartisan deal to avoid a damaging default.
“This bill is not perfect, but it does represent a step in the right direction, and I believe it offers us a template for a final deal that will both cut the deficit while protecting the middle class and enable our government to meet its obligations,” Congressman Lipinski said. “The mechanism it creates for raising the debt ceiling will work better toward avoiding a recreation of the current crisis that destabilizes our economy in a matter of months, as could occur under the House Republicans’ bill. I am glad that in addition to reducing spending by $927 billion, not including reductions in war-related spending – slightly more than the House Republican bill, according to the independent Congressional Budget Office – it would establish a bipartisan committee to recommend further steps for reducing the national debt. Nonetheless, I am concerned that the committee could fail to reach agreement and help reestablish fiscal discipline unless we specify consequences that will force both sides to make difficult decisions for the good of our country. I remain hopeful that the Senate will improve upon this legislation and help develop a bipartisan agreement that enables us to avoid the worst-case scenario of a default that does grave damage to our fragile economy and struggling middle-class families.”
(July 30, 2011)
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