|
April 2, 2013
The Honorable Tom McClintock Dear Representative McClintock: Taxpayers for Common Sense writes in support of H.R. 807, the Full Faith and Credit Act which would prioritize principal and interest payments on U.S. debt if our borrowing limit is reached in the future. With less than two months until the U.S. will need to yet again raise the debt ceiling, taxpayers should be assured that our nation will not renege on debt incurred through past spending decisions. H.R. 807 would simply require the United States Treasury to prioritize payments on the debt over other federal payments if Washington fails to raise the debt ceiling. Currently, the U.S. Treasury has discretion whether or not to prioritize payments on our national debt. If this legislation is enacted, it would also help ensure that the U.S. credit rating is not downgraded further since it would ensure our debt payments would be made in full. Even if lawmakers were not serving in Congress when current spending levels were authorized, each Member of Congress has a responsibility to help get our nation’s finances under control and pay the debts we’ve already incurred. Political games should not be played with our nation’s credit. Instead, spending, entitlement reform, and tax reform should be tackled separately through regular order. The public needs to see what Congress says it wants to pay for, what we can’t afford, and what we need. Discussions should be forward-looking and not focus on debt that is already on the books. We look forward to working with you in the weeks and months ahead to make the tough decisions that will set our country’s finances on a better path forward and help make government work. Sincerely,
Ryan Alexander |
Get Social