“Even though previous Congresses ran up our credit tab, we are still responsible for paying the bill. America must keep its promises and prevent the debt ceiling process from becoming a political football used to force members into blindly raising the debt ceiling year after year. This bill keeps these promises while working to preserve our nation’s long-term fiscal health, and it prevents our credit rating from plummeting if we don’t act on raising the nation’s credit limit.
“If the U.S. Treasury goes into default on November 3 because we haven’t lifted the debt ceiling, this legislation would ensure the payments for social security and interest on debt. It would also prevent the U.S. from borrowing more money to pay for Congressional salaries at a time when we’re working to get our fiscal house back in order.”