BALDERAS: CONGRESS SHOULD GO UNPAID IF COUNTRY DEFAULTS

Balderas: "It's high time for members of Congress to take responsibility for and bear the burden of their reckless inaction"

 

For Immediate Release: July 29, 2011

 

Albuquerque - Saying that inaction in Washington will have a devastating impact on New Mexico families, US Senate candidate and NM State Auditor today said that if Washington fails to reach a compromise by Tuesday's deadline, Members of Congress should be denied pay until a deal is reached.

 

"With just over three days until we are faced with an unprecedented default, House Republicans are playing a dangerous game. Federal default is not our only worry. Recently, Moody's announced that New Mexico is in jeopardy of losing its triple-A credit rating, because of Washington's inability to take action. Our state is facing a situation of downgrade at best and default at worst.

 

"This will have devastating effects on New Mexico families. A credit downgrade will result in higher interest payments on mortgages, car loans, student loans and small businessloans. At a time when too many New Mexico families are already struggling, these consequences are the last things New Mexicans can afford.

 

"As state Auditor, I work tirelessly to protect New Mexico's economy. By ensuring that taxpayer's hard earned money is being spent effectively and responsibly, my office has cut much of the waste, fraud and abuse that plagues states' budgets. Our fiscal discipline has helped New Mexico maintain its triple-A rating. But because of Congress' inability to grasp the basic principle that inaction will gravely harm our country, we are on the brink of disaster. This is unacceptable.

 

"It's time for Congress to quit playing political games with our financial and economic health. If our country defaults on its obligations, the first bills not paid should be members' salaries, they should continue to go unpaid until a deal is reached, and these salaries should not be paid back retroactively. It's high time for members of Congress to take responsibility for and bear the burden of their reckless inaction."

 

 

Media Contact
Caroline Buerkle
505-553-5307

 

 

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