Press Room
 

FROM THE OFFICE OF PUBLIC AFFAIRS

May 24, 2003
JS-422

Statement of Treasury Secretary John W. Snow On the Increase in the Statutory Debt Limit

I applaud the Leaders and Members of Congress who voted to preserve the full faith and credit of the U.S. government by increasing the statutory debt ceiling. They put politics aside and took action to ensure that the government’s payment obligations to the military, retirees and Medicare recipients will be met on time. Today’s action prevents uncertainty that would adversely impact our economic recovery. I commend Congress for its action.