Fiscal Responsibility
Over the years, Democrats have shown our commitment to restoring fiscal responsibility by taking actions that have reduced our national deficit while investing in the American people’s priorities. During the 117th Congress, House Democrats delivered the landmark Inflation Reduction Act, which will reduce the deficit by over $300 billion while lowering health care and energy costs and taking action on climate change. In sharp contrast, Republicans jammed their 2017 Trump Tax Scam through Congress without a single hearing, gifting trillions of dollars in unpaid-for tax handouts to the wealthiest Americans and large corporations while leaving our nation with ballooning deficits. They have repeatedly held our economy hostage to benefit their irresponsible ideological agenda, whether creating artificial “fiscal cliffs,” shutting down the government, or bringing our nation to the brink of defaulting on its obligations. With other landmark legislation delivered during the 117th Congress, including the American Rescue Plan, the Bipartisan Infrastructure Law, and the CHIPS and Science Act, Democrats have worked to invest in economic recovery, job creation, all while cutting the deficit in half last year. Democrats are committed to continuing our work to restore sound, long-term fiscal management so future generations can afford to invest in opportunities, secure the American Dream, and ensure workers have the tools to Make It In America.
“After sixteen days of a government shutdown and weeks of uncertainty as to whether our nation would be able to pay its bills on time, the House has now passed a bill to reopen the government and prevent a catastrophic default.
“The government ought to be open. It ought to be serving the people and America ought to pay its debts. That's what we're getting in this vote.
“Well, I think we're going to do the right thing. We're certainly not doing the perfect thing but we're doing the right thing and it's never the wrong time to do that. I'm glad that we have come to this agreement.
Stop us if you have heard this one before: House Republican leadership spent the day struggling to find the votes for a partisan measure instead of reaching across the aisle to find agreement on a bill that can pass the Senate and be signed into law.
The Washington Post outlines Speaker Boehner’s chronic dilemma:
Now in its third week, the economy is showing increasing signs of strain over the continuing Republican government shutdown. According to CQ:
“Two weeks into the government shutdown, signs that the result of a congressional standoff is starting to take a bite out of the economy are growing.”
While some Republicans have been recklessly denying the impacts of defaulting on our nation’s financial obligations and are refusing to ensure America pays its bills, financial leaders are already seeing the impact, as the Wall Street Journal reports:
The United States will run out of borrowing authority on Thursday, and the impacts could be felt in all areas of the economy. The Washington Post describes the negative impacts of not ensuring America can pay its bills:
MESSAGE FROM THE DEMOCRATIC WHIP
The Republican government shutdown entered its second week as the House Republican leadership continues to refuse to allow a vote on the Senate’s clean bill to reopen the government. Now in its 11th day, the Republican government shutdown is having negative impacts across the nation, negatively effecting the economy, businesses, and a wide
“I think the votes are there to open up government and I think the votes are there to make sure the nation pays its debts. … In this case, however, both sides say they want government open. Both sides say they don't want the government to default. So it seems that we're in agreement. We ought to have a bill on the Floor to do both of those and pass it today. Unfortunately, that hasn't happened yet, but it can happen today and I hope it does.”
Just when you thought things couldn’t get worse for the GOP, the latest poll from NBC/WSJ has even more bad news for Republicans. Some highlights (or lowlights, as it were…):