Boyle Statement on Treasury’s Implementation of Extraordinary Measures to Avoid Debt Ceiling Default
WASHINGTON, DC – Today, Pennsylvania Congressman Brendan F. Boyle, Ranking Member of the House Budget Committee, released a statement after the Treasury Department was forced to implement special accounting maneuvers, known as “extraordinary measures,” to avoid breaching the U.S. debt limit.
“With extraordinary measures now in effect, the debt ceiling is officially a ticking time bomb we can’t defuse soon enough. The fact that Republicans are ready and willing to unleash an economic doomsday in their quest to cut Social Security, Medicare, and other vital programs shows just how untethered from reality, and uninterested in governing, the extreme MAGA Republican party has become.
“It’s time for Republicans to stop pushing for default and start governing in Americans’ best interest. A self-inflicted recession, delayed Social Security payments, missed paychecks for our military servicemembers, spiking interest rates — none of this is in Americans’ best interest, but that is what lies ahead if Republicans’ keep pushing the U.S. to voluntarily default.
“Republicans are creating a crisis that need not exist. For the sake of our economy and Americans’ livelihoods, their political games need to stop.”