(WASHINGTON, D.C.) – Today, Congressman Doug Collins voted in favor of the Default Prevention Act, legislation to ensure the Treasury Department continues to make payments on U.S. debt, in the unlikely event that the statutory debt ceiling is breached.
“The Default Prevention Act gives the U.S. Treasury the authority it needs to ensure the U.S. never misses a debt payment, and make sure that benefits like Social Security are paid in full and on time,” said Congressman Collins after the vote. “Default would mean a credit rating review, weaken the economy, and tarnish our economic standing in the world.”
“Our constituents, many of whom have mortgages, student loans, and other financial obligations do not have this option. Many people struggle with debt while trying to make ends meet. We need to be fiscally responsible, not point the country in the direction of further financial hardship. When you get in dire straits like this, you make conservative budget goals and stick to them.”