In Washington, debt talks continue between President Obama and Congressional leaders to avoid defaulting on the nation’s financial responsibilities.
Defaulting on the national debt would be catastrophic for our economic recovery. Social Security checks could be withheld; jobs could be destroyed; stock prices could fall; 401(k)s, pensions, and savings could take a hit; housing prices could drop; and small businesses and working families could pay more for mortgages, car loans, and business expenses due to higher interest rates.
I remain hopeful that a deal will be reached to avert these consequences. However, when a deal is made, it must be about shared responsibility – not just cuts that harm middle-class Americans. Social Security and Medicare must be protected in any accord.
When a deal does come to the House floor, I will apply the following litmus test to see if it can gain my vote: 1.) Does the plan create jobs? 2.) Does it reduce the deficit? and 3.) Does it protect the middle class? If the answer to those questions is yes, I will support the measure.
Until then, I will continue to push for the best possible plan for all Wisconsinites.
Tammy Baldwin
Your Member of Congress
