Mr. SIRES. Mr. Speaker, we have less than 1 week to prevent our Nation from defaulting on its loans. Rather than focusing on a compromise, the majority has come up with yet another irresponsible plan to raise the debt ceiling and slash funding from programs that matter most to seniors and the middle class.
First, their budget tried to end Medicare and gut Medicaid, all the while protecting tax breaks for Big Oil and corporations that send jobs overseas. Then it was the so-called Cut, Cap, and Balance to achieve the same objectives.
Now the Speaker has put forward another plan that seeks the same goals so they can impose cuts on Medicare and Medicaid as well as set their sights on Social Security. This plan will keep the crisis going with a temporary increase in the debt ceiling, leaving the cloud of uncertainty over our economy.
We need to instead focus on the compromise plan that Majority Leader Reid has presented to extend the debt ceiling through 2012 to provide certainty to the markets without hurting the economic recovery, as well as protect Medicare, Medicaid, and Social Security from cuts.
Mr. Speaker, we must accept the compromise plan to raise the debt ceiling in order to prevent another recession and save jobs in America.