Washington, DC
SPRINGFIELD ? Facing an early November deadline to avoid a potential government default, U.S. Reps. Jim McGovern and Richard Neal joined nearly 200 House Democrats Friday in calling on GOP leaders to support a “clean extension” of the debt ceiling.
If Congress fails to increase the country’s $18.1 trillion borrowing cap by Nov. 3, it would be left with less than $30 billion in cash to pay bills – funds which are expected to disappear quickly, the U.S. Department of Treasury Secretary Jacob Lew recently estimated.
House Republican leaders planned to vote on a proposal that would’ve increased the debt ceiling and imposed limits on executive-branch power, but action was postponed after support fell short. They have refused to move forward with a so-called “clean” debt ceiling bill, citing a lack of GOP member support, Politico reported.
Congressional Democrats, in a letter sent to out-going U.S. House Speaker John Boehner, R-Ohio, rejected the view that it would be okay for the country to default if unrelated demands aren’t met, arguing that “when this irresponsible tactic was employed in 2011 it cost the American taxpayer $19 billion in higher interest costs.”
McGovern, D-Worcester, who joined fellow Massachusetts’ House members in signing the letter, blasted what he characterized as GOP efforts to prioritize the country’s foreign debt over other obligations, like veterans.
“To play political games with the debt ceiling is just dangerous,” he said in an interview. “It’s tired and reckless and it’s stunning to me that we find ourselves in this situation.”
The Worcester Democrat raised concerns that failure to raise the debt ceiling deadline could lead to a lowering of the country’s credit rating and increased interest rates on loans.
With just six legislative days left to address the issue, McGovern also took issue at Republican leaders for focusing on what he called “messaging bills that are going no where” and “a Benghazi hearing that was a waste of taxpayer money.” Instead, he said, lawmakers should be focused on the pressing issues will face in the coming weeks.
“I think things are more important: don’t default and keep the government running,” the congressman said.
Neal, D-Springfield, also cautioned that congressional failure to act could result in serious economic ramifications.
“This issue has historically enjoyed bipartisan support and to use it now as a political bargaining chip is wrong and irresponsible,” he said in a statement. “The full faith and credit of United States government cannot be put in jeopardy.”
Also lending their names to the letter were: U.S. Reps. Joe Kennedy III, D-Brookline; Katherine Clark, D-Melrose; Niki Tsongas, D-Lowell; Seth Moulton, D-Salem; Mike Capuano, D-Somerville; Bill Keating, D-Bourne; and Stephen Lynch, D-South Boston.
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