[Congressional Record Volume 169, Number 89 (Thursday, May 25, 2023)]
[House]
[Page H2612]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1115
                          DEBT CEILING CRISIS

  (Ms. CHU asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. CHU. Madam Speaker, I rise to urge my Republican colleagues to 
come back to work now to responsibly avoid a national default, just 
like they did three times under President Trump.
  Instead, as the U.S. is on the brink of defaulting for the first time 
in history, House Republicans have recessed for the weekend, holding 
the global economy hostage and threatening a catastrophic recession if 
they don't get to impose cruel cuts on American workers, families, 
veterans, and seniors.
  The mere threat of default will cost workers close to $20,000 out of 
their retirement savings. It would also send interest rates 
skyrocketing, cost small businesses $2,500 more per month for capital, 
and force Californians to pay almost $300 more per month on their 
mortgages.
  Republicans already voted to spend the money. Now they are trying to 
walk out on the bill and leave the most vulnerable Americans out to 
dry. That is inexcusable.

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