[Congressional Record Volume 169, Number 89 (Thursday, May 25, 2023)]
[House]
[Page H2611]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          DEBT CEILING CRISIS

  (Mrs. McCLELLAN asked and was given permission to address the House 
for 1 minute.)
  Mrs. McCLELLAN. Madam Speaker, we are 7 days from a debt default that 
would spell economic catastrophe for hardworking Americans and 
Virginians.
  As you have heard, we are in a hostage-taking situation where MAGA 
Republicans don't want to negotiate with the hostage.
  It is not House Democrats that are being held hostage. As you have 
heard from my Democratic colleagues, it is the American people. It is 
also our State governments.
  Last week, Virginia State Senate budget analysts outlined what a 
default would mean for the Commonwealth of Virginia, which has a very 
large Federal footprint.
  It would be catastrophic. It would have a devastating impact on the 
State budget and funding for schools, healthcare, roads, public safety, 
broadband, and affordable housing.
  An extended default could cost the Commonwealth nearly 200,000 jobs, 
slash payrolls by 4.7 percent, and throw the State economy into a 
recession, as well as the American economy.
  A default jeopardizes Medicaid reimbursements to rural hospitals, 
Federal grants awarded in the Commonwealth, over 4,000 federally funded 
State employees, and millions of Virginians who receive Social 
Security, Medicare, and veterans' benefits. It is time to raise the 
debt ceiling.

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