Boyle Introduces Legislation To Address Looming Debt Crisis
WASHINGTON, DC – Congressman Brendan F. Boyle (PA-02) today re-introduced legislation, H.R. 3635, to abolish the United States debt ceiling. This comes in the wake of recent reports that show the U.S. government exhausting its ability to pay its bills as early as September of this year. Congressman Boyle believes that is completely avoidable—if Congress acts NOW before it gavels back into session on September 9th.
“Congress has a limited amount of time to act on this completely avoidable crisis”, said Congressman Boyle. “Our current process of ‘governing by deadline’ and playing chicken with the debt ceiling is essentially doing just that – and risking the full faith and credit of the United States. We are now four months past the March 2 must-act deadline. The debt ceiling, and the constant crisis it creates through repeated threats of government shutdown, is unnecessary and problematic to say the least. It’s no wonder that only a handful of countries around the world currently follow this disruptive, arbitrary and restrictive fiscal practice. This is reckless and irresponsible.”