[Congressional Record Volume 167, Number 213 (Thursday, December 9, 2021)]
[Senate]
[Page S9082]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                              Debt Ceiling

  Mr. SCHUMER. Mr. President, I just would like to speak about the vote 
we had--the first vote.
  I am really pleased that this Chamber just passed legislation setting 
up a fast-track process with debt ceiling legislation--no 
brinksmanship, no default on the debt, no risk of another recession. 
Responsible governing won the day. This is now headed to the 
President's desk.
  I want to be clear. This is about paying debt accumulated by both 
parties. So I am pleased we were able to facilitate a process with the 
support of Members from both parties that avoids a needless and 
catastrophic default and cuts to Medicare.
  This was a bipartisan process, and I hope there can be more. And I 
want to thank Leader McConnell for working with us in good faith to get 
to this point.
  We started this month with a daunting to-do list, but we have made 
significant progress and are on track to get the work done. To repeat, 
we did this with no brinksmanship, no default on debt, no risk of 
another recession. It was responsible governing that won the day, and 
now the bill is headed to the President's desk.
  I expect--after this legislation is signed, I expect new legislation 
will be introduced to increase the debt limit, and we intend to pass it 
by December 15. The American people can breathe easy and rest assured 
there will not be a default.

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