[Congressional Record Volume 169, Number 21 (Wednesday, February 1, 2023)]
[House]
[Page H587]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   RAISING THE NATION'S DEBT CEILING

  (Mr. QUIGLEY asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. QUIGLEY. Mr. Speaker, I rise today to talk about what has been 
and should always be a bipartisan issue, raising our Nation's debt 
ceiling.
  Raising America's debt ceiling ensures we do not default on our 
financial obligations to those we have borrowed from and prevents 
economic catastrophe in the process. Don't take my word for it.
  Listen to American businesses, economists, and financial institutions 
who know the drastic consequences a debt default would have for the 
U.S. economy and working Americans.
  The business roundtable, which represents the CEOs of some of the 
Nation's largest companies, has said about raising the debt limit: 
``Failure to lift the Federal debt limit to meet U.S. obligations would 
produce an otherwise avoidable crisis and pose an unacceptable risk to 
the Nation's economic growth, job creation and financial markets.''
  If you don't want to take their word for it, I recommend heeding 
these words:
  ``The full consequences of a default--or even the serious prospect of 
a default--by the United States are impossible to predict and awesome 
to contemplate.'' Those are the words of President Ronald Reagan.

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