[Congressional Record Volume 169, Number 19 (Monday, January 30, 2023)]
[Senate]
[Pages S137-S138]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              DEBT CEILING

  Mr. SCHUMER. Madam President, on the debt ceiling, one of Congress's 
top priorities this year is ensuring the United States does not default 
on its debt for the first time in our history. Even approaching a 
default would be disastrous for American families. The damages will 
show up on everything from people's credit card bills, their mortgage 
rates, and when applying for things as basic as a car loan. It risks 
thousands of dollars lit on fire for millions of American families. 
Everyone's life in this country will take many steps backward if we 
default.
  Now, Republicans have done a lot of talking about cuts, but when it 
comes to actually showing us a plan for avoiding default, they are 
playing a dangerous game. Republicans, it is time to come out of 
hiding, put pen to paper, and show us your plan. Republicans, show us 
your plan.
  According to some reports, Republicans want significant cuts across 
the board. But from where? Is funding for our troops safe? We don't 
know. Republicans, show us the plan.
  Is funding for police and firefighters and first responders safe? 
Republicans, show us the plan.

[[Page S138]]

  Is funding for Social Security and Medicare safe, which some in that 
party, particularly on the MAGA wing, think should be cut? We don't 
know. Show us the plan.
  The silence is unacceptable because the American people have a right 
to know whether they are going to see crucial services suddenly dry up. 
And if Republicans don't get their way, Americans have a right to know 
whether or not the hard-right GOPers are really prepared to lead the 
House Republican conference to push the United States to default and 
whether the Republican House, led by McCarthy, will follow them over 
that devastating cliff, sending costs spiking on everything from credit 
cards to auto loans, to mortgages.
  We have seen in realtime how dangerous it is for Speaker McCarthy to 
have empowered the most extreme elements of the GOP to set the agenda 
in the House. The MAGA wing of the GOP, which has set the rules on how 
the House should run, has left no doubt that, under their watch, no 
form of funding, however necessary, is safe.
  Democrats, meanwhile, have been very clear about our position. When 
it comes to the debt ceiling, there can be no brinksmanship, no 
threats, no hostage-taking. This is simply too important. It has to get 
done.
  Republicans need to show their plan to the American people. The clock 
is ticking on the debt ceiling every day. We must make sure that a 
first-ever default doesn't occur. Yet Republicans are making it more 
and more likely.

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