Congressman McClintock Introduces Debt Ceiling Related Bill
Washington, DC — Mother Lode Republican Congressman Tom McClintock has a new bill called the “Default Prevention Act.” It comes in response to ongoing negotiations related to increasing the federal debt ceiling.
He says, “The bill simply provides that even if there is a fiscal impasse in our deliberations over the debt limit, the debt of the United States will always be paid in full and on time.”
He continues, “Our revenues vastly exceed our debt service costs, and as every family knows, if you are living off your credit cards, you better make the minimum payment first. The law and the Constitution require it.”
We reported earlier that Congressman McClintock has also been pushing for a separate proposed Constitutional amendment that would mandate the federal government only spend what it takes in, and spending more would require a vote of 3/4 of the legislature.
