Fiscal Responsibility Act of 2023

Floor Speech

Date: May 31, 2023
Location: Washington, DC


Ms. PELOSI. Mr. Speaker, I thank the gentleman for yielding and for his leadership. I also thank the gentleman from Pennsylvania (Mr. Boyle), the ranking member of the Budget Committee.

Mr. Speaker, I associate myself with the great remarks of our distinguished leader, Mr. Hakeem Jeffries, who spoke earlier and captured so much of what is so important here today.

Mr. Speaker, our Constitution makes perfectly clear the validity of the public debt of the United States shall not be questioned. In the bipartisan budget agreement, we honor our sworn oaths as lawmakers to uphold this constitutional duty.

While I find this legislation objectionable, it will avert an unprecedented default, which would bring devastation to America's families: millions of jobs eliminated, trillions in savings erased, higher costs on loans, mortgages, car payments, credit card bills, and more.

Let us commend President Biden for his responsible leadership to prevent this unconscionable outcome while protecting Social Security, Medicare, Medicaid; protecting healthcare for our veterans as our Commander in Chief; protecting our progress on climate and infrastructure; and protecting our economy.

Mr. Speaker, I urge my colleagues to support the bill, reaffirming to Americans that the full faith and credit of the United States shall not be questioned.