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Public Statements

Full Faith and Credit Act

Floor Speech

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Date:
Location: Washington, DC

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Mr. McDERMOTT. Madam Speaker, we haven't done anything in this House all week, and here we are working on a plan on how the government can default on its debts. That's what this is really all about.

It reminds me of the derivation of the word "bedlam.''

Bedlam was a large mental hospital in the middle of London. It was really called "Bethlehem,'' but people locally called it "Bedlam.'' This is a policy that came out of bedlam and will create bedlam.

If we don't pay our debts, we are going to create problems in our own country, as well as in the world economic system.

If you want to lose the United States dollar as the currency that is used by the world, start by not paying your debts. Everybody will say, Why do we want a dollar? Those folks don't pay. That's what you're creating--bedlam--here today.

I urge everyone to vote "no.''

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