From Rep. Huizenga, Whats Happening In Washington: This week an agreement was reached in the waning hours to re-open the government and raise the debt ceiling. Unfortunately, the measure voted on in the House was not something I could support because it failed to address the very issue that got us into this position in the first place - Washingtons out of control spending. I am extremely disappointed that Harry Reid and the Senate did not negotiate in good faith throughout this process. This could have been an opportunity to enact meaningful and necessary reforms to help families across West Michigan as well as take steps forward to get our nations fiscal house in order. Instead, the Administration, working hand in hand with the Senate, again chose to run down the clock and kick the can down the road with no significant structural changes. I cannot support a piece of legislation that allows for an unconditional increase in the debt ceiling without a plan to address the nations spending and debt. Most importantly, this legislation further codifies the notion that it is acceptable to have one set of rules for everyday Americans, while those who make the rules in Congress and the Obama Administration merely exempt themselves from provisions they do not agree with. This runs counter to the ideals in which our nation was founded upon and I will continue to fight against a two-tiered system that circumvents the rule of law. Dispelling Myths: The deal agreed to merely kick the can down the road and does not address spending or our debt. In fact, it is very possible the nation will be facing the same situation again in the next 3 to 4 months. With that being said, I wanted to take the time now to provide some clarity about how the specter of default is being taken out of context and how the House acted in May of this year to remove this terrible threat. First, as my colleague and Chairman of the Financial Services Committee, Jeb Hensarling points out: The president has tried to conflate default on our sovereign debt with failure to unconditionally raise the debt ceiling. They are not one in the same. Independent analysis from organizations like Moody’s Investor Services and the General Accountability Office attest to this. The president has the legal, financial, and logistical means to avoid a catastrophic default on our sovereign debt. Additionally, House Republicans passed H.R. 807, the Full Faith and Credit Act, to explicitly authorize payment prioritization and remove the frightening notion of default from the equation. Its unfortunate that again President Obama and others in Washington are trying to politicize this event. I hope this brief discussion helps inform you of the state of play in Washington and what you are very likely to see trickle out in news reports in the coming weeks.
Posted on: Sat, 19 Oct 2013 03:12:32 +0000
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