Issue Position: Debt Ceiling

Issue Position

I support raising the debt ceiling when necessary. The alternative is that the United States would default on its debt, a result that would be catastrophic. The U.S. would lose its perfect credit rating, adding billions to our deficit because creditors would charge more interest on loans. The stock market would plummet, and mortgage rates would skyrocket. And, millions of seniors and veterans who depend upon government benefits, including Social Security and Medicare, would be at risk. At the same time, we must put together a rational, humane plan to balance the federal budget, and to begin paying down the national debt. We must also remember that recovery must come first, before dramatic cuts. Otherwise, the cuts will further slow the economic recovery. But the time is near to put politics aside and become pragmatic to force real solutions that go beyond rhetoric.

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