Limit, Save, Grow Act of 2023

Floor Speech

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Mr. THOMPSON of California. Mr. Speaker, I rise in strong opposition to the default on America act.

Mr. Speaker, we need to raise the debt ceiling not because of money we want to spend in the future but because of money that we have already spent.

Both parties have contributed to our current debt, including over $2 trillion of debt caused by the 2017 Republican tax bill and hundreds of billions in COVID relief spending voted for by both parties and signed into law by a Republican President.

One-quarter of our Nation's debt was racked up during the previous administration, and now Republicans are trying to use our obligation to pay our debts as a leverage point to kick millions of people off of healthcare insurance, to defund the biggest investment in climate change in our country's history, and to make it harder for the neediest among us to feed themselves.

Let's be clear. If we default on our debt, the consequences will be felt by every American.

We have repeatedly passed a clean debt ceiling bill, and we need to do that today. It is time to stop playing games with our debt and end this attack on the stability of the American economy.

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