Congressman Jason Altmire announced today he will vote against raising the debt limit:
“I intend to vote against raising the debt limit today because this legislation fails to make the real and immediate spending cuts needed to get our fiscal house in order. I do not want our country to default on its debts. However, for the long-term stability of our economy, the worldwide markets need to see that the U.S. Congress is willing to make the difficult decisions needed to rein in our budget deficits. This bill does not do that.
“Although increasing the debt limit does not authorize any new government programs or new spending, it does chart a path for the future. In order to prevent us from finding ourselves in this exact same situation down the road, we must enact long-term spending cuts and meaningful budget reforms now.
“The need to increase the debt limit this summer presents us with the opportunity to take steps that will put our nation on a sound fiscal path. I look forward to working with my colleagues to use this moment for real progress on our fiscal future.”
Such a vote would be extremely irresponsible and imperil the nation’s security. A national default of America’s debt would raise interest rates horrifically forcing taxpayers to should more and more expenses to investors. It would immediately drive the recovering economy into a 1930’s era depression and cause thousands of Altmire’s constituents to lose their jobs and homes. He isn’t fit to sit as a Member of Congress.