Over the past couple of years, Washington has repeatedly battled over the debt ceiling. President Obama claims Republicans are willing to risk economic disaster by defaulting on the debt. Nothing could be further from the truth. To back up our words with actions, today the House passed the Full Faith and Credit Act, which guarantees our debts will be paid and our commitment to seniors honored. Republicans do not want default; we want to put the country on a path to balanced budget prosperity.
Hitting the debt ceiling is a symptom of the failed tax, spend, and borrow policies of the Obama Administration. These policies have also led to the weakest recovery from a recession since the end of World War II. To grow our economy and pay down debt we must cut and reform spending, simplify taxes, stop overregulation, and recover American energy. Recklessly spending money we do not have and piling up even more bills for the next generation to pay is the real threat to the future of this country.
The Full Faith and Credit Act is a small step on the way to achieving long term results. It takes the threat of default off the table and ensures seniors will receive their Social Security payments. If Harry Reid and Barack Obama kill it, we will know who is playing dangerous political games with our economy and the earned benefits of our seniors.
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