[Congressional Record (Bound Edition), Volume 159 (2013), Part 11]
[House]
[Page 15885]
[From the U.S. Government Publishing Office, www.gpo.gov]




          PUT THE BEST INTERESTS OF THE AMERICAN PEOPLE FIRST

  (Mr. HIGGINS asked and was given permission to address the House for 
1 minute.)
  Mr. HIGGINS. Mr. Speaker, the deadline for preventing the United 
States from defaulting on our debt is growing closer, and the need to 
act is more critical.
  The truth is, Mr. Speaker, we don't know the full extent of the 
damage that our Nation's economy would suffer.
  But here is what we do know: a default would mean higher interest 
rates for over 278,000 New Yorkers with mortgages, a loss of disability 
benefits for over 100,000 New York veterans, and the threat of being 
unable to pay Social Security and Medicare drug reimbursements to over 
3,000 New Yorkers.
  Mr. Speaker, the argument by some in this Chamber that defaulting on 
our debt wouldn't be a big deal is outrageous. Putting the full faith 
and credit of our Nation--not to mention the strength of the world 
economy--on the line simply to prove a political point is both reckless 
and irresponsible. This House must put the best interests of the 
American people first and avert this disaster so we can get back to 
rebuilding this economy and nation-building right here at home.

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