[Congressional Record Volume 142, Number 13 (Wednesday, January 31, 1996)]
[House]
[Page H979]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         FINANCIAL CREDIBILITY

  (Mr. STUPAK asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. STUPAK. Mr. Speaker, the United States faces a major threat to 
its financial credibility from the new majority, which is playing 
politics with the Nation's credit and refusing to raise the Nation's 
debt limit. Their tactics hurt all Americans, just as Americans were 
hurt by the expense and inconvenience of two Government shutdowns.
  But the issue involves more than finances. The credibility of this 
very Nation is hurt by such tactics. We approve spending measures for 
Social Security, for education, for the environment, for the defense of 
this Nation, and then we tell America that we are simply not going to 
pay our bills. Whatever happened to the fullfaith and credit of this 
country? What ever happened to one's good word.
  Republicans may try to fool the public by suggesting that raising the 
debt ceiling will somehow cap future spending, part of their agenda to 
reduce spending on Medicare, or Medicaid, the environment, and 
education, but the new majority should be honest with the American 
people. The debt limit must be approved to pay for current spending, 
not future spending. We must be responsible and protect our Nation's 
finances and reject this destructive extremism by passing a clean 
resolution to raise the Nation's debt ceiling.

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