[Congressional Record Volume 141, Number 172 (Thursday, November 2, 1995)]
[House]
[Page H11689]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               AMERICA MUST BE CONCERNED ABOUT A DEFAULT

  (Mr. DOGGETT asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. DOGGETT. Mr. Speaker, a few days ago Speaker Gingrich went to New 
York, and he stood defiant to default, proclaiming, ``I don't care if 
we have no executive offices and no bonds for 60 days, not this time.''
  Well, in order to counter that kind of extremism, the Republicans got 
a couple of their big campaign contributors from Wall Street to come 
down here to Washington yesterday and tell them not to be concerned.
  I would suggest the American people have every reason to be concerned 
if we continue to pursue this approach of, ``It's Newt's way or no way, 
even if it means the first default in the history of this great 
Nation.'' Indeed, perhaps our Republican colleagues would be well 
advised to read this morning's Washington Post and the comments of one 
of their senior Members, our colleague, the gentleman from New York 
[Mr. Houghton], who says, ``I think the whole thing is nuts. Nobody 
knows the potential impact. If you play this hand and lose, you can 
really do a lot of damage.''
  It is like threatening to explode an atom bomb in your own backyard. 
Yes, that is the approach. These Gingrichites who defaulted to the 
people on Medicare ought not to default to the rest of America as well.

                          ____________________