[Congressional Record Volume 142, Number 9 (Wednesday, January 24, 1996)]
[House]
[Page H779]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         HOLDING DEBT CEILING DECISION HOSTAGE IS BAD POLITICS

  (Mr. SCHUMER asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. SCHUMER. Mr. Speaker, the message from the President last night 
was simple. He wants a centrist and bipartisan agreement, a balanced 
budget in 7 years. The President reached out his hand. It would be a 
shame if Newt Gingrich and the Republican freshmen slapped it. But 
already we hear plans from the extreme Republicans to add this bangle 
to the spending bill and that dangle to the debt ceiling.
  Mr. Speaker, last month the Republicans hostages were Government 
employees. This month it seems it will be the debt ceiling and 
America's credit rating. Holding the debt ceiling hostage will raise 
mortgage rates for homeowners, credit interest rates for consumers, 
college loan interest rates for students.
  Last month, Republicans learned that holding Federal employees 
hostage was wrong and bad politics and they had to retreat with their 
tail between their legs. Now, amazingly, the Republicans are attempting 
to play this hostage game again, this time with the full faith and 
credit of the United States. Mr. Speaker, I say to my Republican 
colleagues, when are you guys going to learn? Enough already.

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