Washington, D.C. (May 9, 2013) — Congressional Progressive Caucus (CPC) Co-Chairs Reps. Raúl M. Grijalva (D-AZ) and Keith Ellison (D-MN) released the following statement today after House Republicans passed a bill that risks the full faith and credit of the United States and forces us to pay China before we pay hard-working Americans.
“By passing this bill, Republicans have admitted that they are once again willing to risk the full faith and credit of the United States.
“The country remembers clearly how Republicans threatened our economy by using the debt ceiling as a bargaining chip less than two years ago. The ‘Pay China First’ Act would prioritize paying our foreign creditors like China and Iran, instead of paying doctors and hospitals who treat Medicare patients, programs for our veterans, or education if the government defaults on its debt. Even Speaker Boehner has acknowledged this, and Fitch Ratings has already threatened to downgrade the credit rating of the United States if it becomes law.
“Since taking control of the House of Representatives, Republicans in Washington have made it a practice to turn the full faith and credit of the United States into a national crisis. Their threats and austerity plans have cost the country millions of jobs.
“We can end this cycle. It’s time we abolished the debt ceiling and focused on job creation. Washington needs to create jobs now.”