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Post by bot on Feb 3, 2016 20:04:07 GMT -5
Hoyer: House GOP Accusations on the Debt Limit are Outrageous
WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today in response to a hearing held by the House Financial Services Committee accusing the Obama Administration of manufacturing the debt limit crisis:
"It is outrageous that House Republicans held a hearing today in the Financial Services Committee to suggest that, somehow, the Obama Administration was responsible for the near-default on our debt that they themselves instigated. When House Republicans manufactured that crisis, they made the spurious claim that prioritizing certain debt payments could avert the full consequences of default. However, as the Treasury Department made clear then and continues to make clear now, failure to pay any of our obligations is default, for which rating agencies and our creditors would hold us accountable.
"It remains unconscionable that House Republicans would even bring our country to the point where the Treasury Department was asked to explore options for how to handle a default. I'm glad we were able to avert such a crisis then, but Republicans ought to accept their role in fomenting it and learn from the Treasury's assessment so as not to put our nation in danger again by threatening not to pay America's bills."
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