Hoyer: Democrats and Republicans in Congress Must Work Together To Pass A Clean Debt Limit Extension

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today on the debt limit:

“With the debt limit reinstated at midnight, it is critical that Democrats and Republicans in Congress work together to pass a clean debt limit extension before the Treasury Department’s extraordinary measures are exhausted.  We should not waste any time in doing so.  No one must forget the danger we faced in 2011 as our country approached a potential default on our debt, leading to the first-ever downgrade of U.S. creditworthiness that August.  The lesson to draw from that experience is that the mere possibility of default can sow instability in our markets and undermine our economy. 

“As I have said repeatedly, Democrats will not allow Republicans to attempt, as they have in the past, to hold our country hostage to the debt limit by insisting on the passage of partisan legislation as part of a debt-limit increase.  We will not allow them to shake down the American people.  I urge Republican leaders to reassure our markets with a firm commitment now – and not wait until the eleventh hour – that they will not hold the nation hostage or allow the United States to default on its obligations.”