Congressman Veasey Statement on Raising the Debt Ceiling
WASHINGTON, D.C. – Congressman Marc Veasey, TX-33, released the following statement after voting against H.R. 692, misleadingly called the Default Prevention Act, which would not ensure the U.S. pays all of its bills on time and in full:
"Today, I voted against H.R. 692, the "Pay China First" Act, as it would have devastating effects for DFW Metroplex seniors, veterans and college students. Instead of working with House Democrats to raise the debt ceiling to pay all of our nation's bills, House Republicans voted today to pay bondholders from China and other foreign nations first. In the 33rd Congressional District of Texas alone, debt prioritization would risk over 18,000 veterans from not receiving their military benefits and over 49,000 seniors from not receiving their social security benefits.
Let me be clear, raising the debt ceiling does not mean increasing the federal debt or giving a blank check to our government to spend all it wants. Increasing the debt limit will allow the federal government to pay the bills that Congress has already accrued. Failure to do so not only risks the full faith and credit of the United States, but also harms hard working Americans nationwide. House Republicans have until November 3 to work with House Democrats to raise the debt ceiling, ensuring that the United States' strong credit rating is not jeopardized and hardworking DFW families are not impacted by partisan political games."