[Congressional Record Volume 157, Number 115 (Thursday, July 28, 2011)]
[House]
[Pages H5676-H5677]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         REPUBLICAN DEFAULT ACT

  (Mr. PETERS asked and was given permission to address the House for 1 
minute.)
  Mr. PETERS. Mr. Speaker, I rise today in opposition to the Republican 
Default Act, which will require deep cuts in Medicare while preserving 
tax breaks and loopholes for millionaires and large corporations. It is 
beyond disappointing that Republicans have squandered a real 
opportunity to put our Nation on a sustainable fiscal path.
  Many of my constituents are afraid the Republican leadership will 
continue bending to the Tea Party demands to drive our economy toward a 
self-inflicted recession.
  The risks here are very real. Default or a credit downgrade will hurt 
middle class families with higher mortgage and credit card interest 
rates and higher costs for food, gas, and utilities.
  Republicans need to stop playing reckless games with our economy and 
start working for what the American people want: comprehensive deficit 
reduction that shares the burden equally,

[[Page H5677]]

strengthens Medicare and Social Security, ends tax giveaways, and puts 
our country back on the path to fiscal stability.

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