Larson: Hostage Politics Threaten Our Economy, Again
Washington – Today, Rep. John B. Larson (CT-01) called on Congress to work together to avoid the looming government shutdown and a repeat of the 2011 debt ceiling debacle. The federal government faces shutdown on October 1st if Congress cannot come together on a continuing resolution and will stand to default on its bills if the debt limit is not raised by October 17th.
"Today we are again on the precipice of fiscal disaster caused by hostage politics. A small but vocal few in Washington have become the tail that wags the dog, with certain Members of the House set on brinksmanship rather than partnership.
"The American people are sick and tired of partisan politics getting in the way of job growth and economic stability. With these looming crises casting a shadow over our nation, the entire Congress must come together to develop real solutions. Whether you are a Democrat, Republican, Tea Party or Green Party, no Member should want to continue a pattern of uncertainty that has stalled our recovery and hampered job growth across the nation.
"In the coming weeks, Congress must do their job to ensure an operable government and avoid defaulting on the full faith and credit of the United States. I commend President Obama for remaining firm on the nation's commitment to paying its bills and call on every Member of Congress to come together on a path that invests in America and puts our country back to work."
Earlier, Treasury Secretary Jack Lew wrote a letter to Congressional Leadership calling for immediate action on the debt limit. In his letter, Secretary Lew highlights the negative economic impact of the 2011 debt ceiling debate which ultimately led to a downgrade of the nation's credit rating.