Today Rep Walberg voted for and helped pass H.R. 807, the Full Faith and Credit Act, which allows the Treasury Department to continue making timely payments on our debt and ensure that Social Security benefits are paid in full and without interruption when the statutory debt limit is reached. The legislation does not raise the debt limit and prevents the Department of Treasury from issuing debt to pay for new spending.
Rep Walberg released the following statement following the vote:
"Congress and the President have a responsibility to make it clear the U.S. will not default on a debt payment. Failure to make a debt payment jeopardizes our nation's economic health, increases our borrowing costs and threatens our ability to make any of the other payments we owe. This legislation ensures that the U.S. will not default and that Social Security payments will be made while Congress and the President work on controlling wasteful Washington spending."