[Congressional Record Volume 141, Number 166 (Wednesday, October 25, 1995)]
[House]
[Page H10752]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




    WE CANNOT ALLOW THIS RECONCILIATION TO TAKE OUR ECONOMY HOSTAGE

  (Mrs. KENNELLY asked and was given permission to address the House 
for 1 minute and to revise and extend her remarks.)
  Mrs. KENNELLY. Mr. Speaker, today, as we begin debating the 
reconciliation, we are debating nothing less than the path the United 
States will take in the future. On issues from education to the 
environment, health care to nutrition, the choices we make will have an 
impact for many years.
  But of all the choices we make, none is more critical than this: We 
cannot allow our very significant differences over reconciliation to 
take our economy hostage. We cannot allow a failure to raise the debt 
ceiling to force America into default.
  I want to make just two simple points (about this:) First, no matter 
how stringent the budget action we take this week, the debt ceiling 
will still have to be raised. There is no way to avoid it it without 
pushing us into default.
  And second, no one knows what the consequences of default could be 
because it has never happened before. I, for one, see a real potential 
for worldwide economic disruption. I urge my colleagues to avoid 
politics or grandstanding on this incredibly important issue.

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