Adams Takes Debt Default Off the Table

Statement

Representative Sandy Adams (FL-24) announced today that she has signed on as a cosponsor to H.R. 2402, the Prioritize Spending Act of 2011. This legislation would direct the Department of the Treasury to prioritize their spending in the event that the United States reaches the statutory debt limit.

"After years of kicking the can down the road, reckless spending, and the Senate's repeated failure to pass a budget, we now find our nation at an economic crossroads. With our country on the verge of possibly defaulting on our obligations, tough choices must be made immediately. The central question facing our nation remains, are we going to continue down the same reckless road that led us into this fiscal disaster, or are we going to change course and chart a more fiscally responsible path? I choose the latter.

"As discussions continue between President Obama and congressional party leaders, I remain hopeful that an agreement will be reached that will reduce federal spending, balance the budget, and enforce commonsense spending reforms without raising taxes. At the same time -- unlike the Senate's refusal to provide a budget plan -- I strongly believe Congress must have a responsible plan in place should the President reject our commonsense proposals. If the debt limit is not raised and there is not enough in the Treasury to pay all our nation's obligations, it is at the discretion of the President which bills to pay, and in which order. This is why I have cosponsored H.R. 2402, the Prioritize Spending Act of 2011, to ensure that the Department of the Treasury prioritizes spending by paying our nation's debts, funding our military and ensuring our seniors receive the support they need and rightfully deserve. As negotiations resume, I will continue to call on the President and Senate leaders to act responsibly in addressing our nation's astronomical debt, and to finally end the days of kicking the can down

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