[Congressional Record Volume 142, Number 14 (Thursday, February 1, 1996)]
[House]
[Page H1145]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                MAJORITY PURSUING CONTRADICTORY STRATEGY

  (Ms. NORTON asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. NORTON. Mr. Speaker, the majority is pursuing a contradictory 
strategy. Everything they have hinged on eliminating the deficit, but 
an increase in the deficit would be the first result of default. The 
official position of the United States of America today is under threat 
of default. Moody's has certainly recorded it that way, because it has 
returned the threat itself.
  The shutdown strategy will not work this time. The only way to hang 
something on the debt limit bill is to get an agreement in advance from 
the President, yet I see no meetings occurring.
  Moody's action shows that the delay alone can be costly, and worse, 
dangerous. If we mean to balance the budget, if your purpose is to 
eliminate the deficit, let us start by taking away the threat of 
default.

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