STATEMENT BY HECTOR BALDERAS ON HOUSE FAILURE TO VOTE ON DEBT CEILING

For Immediate Release: July 29, 2011

"We now have less than four days until the United States faces an economic crisis that will be entirely created by Washington.

 

"It's time for House Republicans to understand that and act with the urgency this situation needs.

 

"Speaker Boehner has now wasted far too much time trying to arm-twist members of his own party to support a plan that he knows will face a bipartisan death in the Senate. And that's after receiving warnings from the credit agencies that they will downgrade our credit rating if his plan passes.

 

"There is no more time to waste. Default or downgrade, the results will be devastating for New Mexico. It will result in lost jobs, and higher interest rates for mortgages, car loans, student loans, or small business investments.

 

"It is time for House Republicans to stop playing politics with our country's fiscal and economic health. Both sides must now compromise and come together behind Senator Reid's plan that places a downpayment on deficit reduction, avoids default and credit downgrades, and sets up a structure for a long-term deal with a balanced approach of spending cuts, closing tax loopholes for the wealthy, and economic growth.

 

"This is not the perfect solution. But with less than four days, it is our best opportunity to avoid default. New Mexico can't afford for Washington to squander this one."

 

Media Contact
Caroline Buerkle
505-553-5307

 

 

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