U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), a member of the House Ways and Means Committee and House Budget Committee, today hammered House Republicans' plan of a short-term extension of the nation's debt ceiling. The Republican bill, H.R. 325, would only extend the nation's debt ceiling until May 19, 2013.
"It's astounding to see Republicans continue to play partisan politics with our nation's economic certainty. A short term increase of the debt ceiling is not a solution but merely a band-aid, which is why I voted no on this sham. As we have seen with the fiscal cliff debate, we cannot continue to lurch from crisis to crisis. We cannot risk another credit downgrade or the loss of more jobs. The United States has an obligation that we must uphold and to further risk our credibly by kicking the can down the road is foolish.
"We need to have a responsible debate about our long term fiscal challenges, but we should not use the full faith and credit of the United States for political leverage. I strongly urge the House Majority to bring us a clean, long term extension of the debt ceiling."