[Congressional Record Volume 169, Number 89 (Thursday, May 25, 2023)]
[Extensions of Remarks]
[Page E492]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 MEMORIAL DAY WEEKEND FEARS OF DEFAULT

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                       HON. BONNIE WATSON COLEMAN

                             of new jersey

                    in the house of representatives

                         Thursday, May 25, 2023

  Mrs. WATSON COLEMAN. Mr. Speaker, I demand that Republicans get back 
to Washington and finish the job the American people sent all of us to 
Washington to do.
  House Republicans have fled the Capitol leaving their worries behind, 
ready to enjoy the holiday weekend. The everyday American doesn't have 
that luxury.
  My constituents have been calling and writing expressing their 
anxiety and feelings of uncertainty. Americans are worried about paying 
their rent, buying their groceries, and caring for their children in 
the event of a default.
  Everyday Americans will spend the weekend worried about whether or 
not they will receive their next social security check. Everyday 
Americans will spend the weekend hoping their retirement savings will 
still be intact by next week. Everyday Americans will use their weekend 
to figure out how to pay their rent and mortgages in the event of a 
default.
  In the event of a default, at least 7 million jobs will be lost, 
unemployment will rise, our GDP will decline, and roughly $10 trillion 
in household wealth will be wiped out.
  The House Republicans don't have these problems to worry about. The 
House Republicans don't have to feel the consequences of their own 
actions like their constituents will.
  The Democrats are here and ready to pass a clean debt ceiling. We are 
working for the people. It is deplorable that my Republican colleagues 
won't do the same.

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