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WASHINGTON, D.C.-On Thursday morning, Congressman Allen Boyd (D-North Florida) joined the Blue Dog Coalition in asking Speaker Dennis Hastert to forgo adjourning the House and sending members home for March recess until Congress averts an imminent financial crisis and addresses the nation's debt limit. Twenty-eight Blue Dogs joined Congressman Boyd in signing the letter to the Speaker, which also indicated their support for a responsible plan to extend our nation's credit without further damaging our fiscal security.
"I believe it would be irresponsible for members of Congress to go on vacation while the United States is facing a potential default on its debts," said Congressman Boyd. "The need for a fourth increase in the debt ceiling in just five years is a blatant reminder that our nation's finances are facing serious, long term challenges, and Congress needs to address this problem instead of ignoring it."
Congressman Boyd understands the necessity for approving an increase in the debt limit but believes it would be careless to provide a blank check increase that fails to include meaningful budget reforms. The Blue Dogs advocate three specific amendments, that if passed, would result in Blue Dog support for a debt limit increase. They include:
- Attach pay-as-you-go rules to the debt limit increase;
- Provide for a short term, temporary increase in the debt limit and require a plan to balance the budget before an additional debt limit increase;
- Prohibit the Secretary of the Treasury from dipping into any retirement trust funds to circumvent the debt limit.
"Raising the debt ceiling is a bad habit that is not a lasting solution to our growing financial problems," Boyd stated. "As a leader of the Blue Dog Coalition and a fiscal conservative, I am committed to working in Congress to balance the budget and meet our nation's most important priorities, but we should be able to meet these priorities without raising the debt limit."
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