[Congressional Record Volume 142, Number 10 (Thursday, January 25, 1996)]
[House]
[Page H853]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       NOW IS THE TIME TO WORK TOGETHER TO RAISE THE DEBT CEILING

  (Mr. VOLKMER asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. VOLKMER. Mr. Speaker, the other evening, on Tuesday night, the 
President said, ``Let us work together,'' on many things. Now is the 
time to work together to make sure that we increase the debt limit that 
needs to be done so that the financial conditions of many, not only of 
the U.S. Government, but of many of our municipalities, our States, and 
even some of my school districts that have Treasury bonds, do not have 
their bond rating reduced.
  Mr. Speaker, we can work together to do this. All we have to do is 
come forward and sign the Discharge Petition No. 8 that provides that 
we will have before this House a clean debt limit extension so that we 
can do it and we can get past this hurdle.
  Mr. Speaker, I am afraid that if we do not do this, that under the 
leadership of our Speaker, the gentleman from Georgia [Mr. Gingrich], 
we are not going to get it done, and we are going to see a chaotic 
financial condition throughout this country for no purpose whatsoever.
  There is no reason that we cannot increase the debt limit and do it 
now. Now is the time to do it, not to wait until the Government has to 
default on their bonds.
  So if Members want to prevent that from happening, the easiest way to 
do it is to sign Discharge Petition No. 8. Any Member can sign it. They 
do not have to be a Democrat; Republicans can sign it, and I welcome 
Republicans to sign the discharge petition.

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