Ruppersberger Issues Statement on Compromise to Avoid National Default Crisis, Reduce Deficit

Press Release

Congressman C.A. Dutch Ruppersberger (D-MD) voted tonight to support a compromise to increase the debt limit by at least $2.1 trillion and generate nearly $1 trillion in deficit cuts over the next 10 years. The plan establishes a bipartisan committee to identify an additional $1.5 trillion in deficit reduction, including entitlement and tax reform. Automatic spending reductions will take place if Congress fails to enact the commission's recommendations, however, Social Security and Medicare will be exempted from these automatic cuts.

Congressman Ruppersberger issued the following statement on the compromise:

"Americans elect their representatives to work together to do what's best for the country. Nothing is perfect, but politics is about consensus, and consensus is about making sacrifices for the good of our nation. If we had defaulted, all Americans would have been harmed, especially seniors, children, our middle class and those less fortunate.

As Ranking Member of the Intelligence Committee, I understand that our deficit weakens us as a country. This compromise makes serious cuts from both domestic and defense spending, while protecting our country's most vulnerable groups, including seniors who have raised their families, paid their taxes and deserve to enjoy their golden years with their families. Today's students will carry us into tomorrow's economy and we must continue to invest in education. With both parties at the table, I am confident that we can make significant cuts while protecting these priorities.

As long as America's commitment to pay its bills remains in question, so does our credit rating. That means higher interest rates -- on homes, on cars, on school loans and on businesses looking to grow and hire. This compromise will prevent our country from defaulting on our debt, carrying us through at least 2013 and providing much-needed stability to the markets and businesses, which will help us create jobs.

I was confident that whether conservative, progressive or moderate, in the end, Congress would do the right thing for our country. Default was simply not an option. This political chess game has needlessly scared American families, concerned American businesses and crippled Washington for the past month. It's time to get back to our top goal of creating jobs."

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