WASHINGTON, Aug. 2, 2011 /PRNewswire-USNewswire/ -- Today, the Democratic National Committee and Assistant Democratic Leader Rep. James Clyburn held a press conference call to discuss the importance and benefits of the debt limit agreement. During the call Rep. Clyburn praised the President for the agreement, calling it the responsible solution; one that ensures no one will be able to play political games with the nation's economic future. Seniors will continue to receive their Social Security checks, Veterans will continue to receive their benefits, and businesses relying on federal government contracts or funding can continue to keep their employees working.
"The Boehner bill, that I voted against…fixed the debt ceiling for only 6 months, which means that 6 months from now we'd be back in the same quagmire arguing again," said Rep. James Clyburn. "The bipartisan bill we passed raises our debt limit for 18 months, which takes us all the way through December of 2012, well after the next election."
The bipartisan agreement reached is a rejection of the unbalanced "cut, cap and balance" plan proposed by Republicans that would have turned Medicare into a voucher program and made seniors and the middle class shoulder the full burden of deficit reduction. Instead, because of the efforts of President Obama and Democrats it creates a bipartisan committee to seek a balanced approach to larger deficit reduction. Furthermore, the agreement stays true to the President's commitment of shared sacrifice ensuring that no reforms of programs that middle-class Americans rely on like Medicare, Medicaid or Social Security will be made without a balanced sacrifice from the wealthiest Americans.
The approach is a significant step towards deficit reduction. Through compromise, this agreement removes the cloud of uncertainty over our economy at this critical time and protects critical domestic programs.
"There is an increase of $44 billion in the 2012 non-security accounts…$44 billion more than in the 2011," said Rep. Clyburn. "So those of us who are interested in bolstering up non-security spending for infrastructure, education, Pell grants, for low income programs, CHIP, TANF, SNAP, for Veterans…we have $44 billion additional dollars than what we have now."
*** You can listen to the call here ***
SOURCE Democratic National Committee