From Adam Schiff <[email protected]>
Subject The debt ceiling
Date June 2, 2023 9:58 PM
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[ [link removed] ]Adam Schiff for Senate




Hi, it’s Adam.

I just wanted to share my thoughts with you regarding my “yes” vote on the
bill to avoid a default on the nation’s debt.

I voted to raise the U.S. government’s debt ceiling ahead of next week’s
deadline. After that deadline, the Treasury Department would have run out
of funding to pay our bills, and our government would be forced to default
on its debt for the first time in history — likely triggering a global
recession, millions of job losses, lost paychecks and Social Security
payments.

Kevin McCarthy and Republicans in Congress were willing to hold our
economy hostage as leverage for their demands, even if it meant plunging
the nation into recession. That was reckless in the extreme.

President Biden negotiated an end to the economic hostage taking, and
asked Congress to support a resolution of the stalemate, because a default
would have hurt our most vulnerable citizens. I did.

The choice in front of us was defaulting on the U.S. government’s debt, or
passing this bill. While there were elements of the bill I certainly
didn’t like — it was a negotiation after all — it was certainly better
than the alternative. And at the end of the day, results are what matters,
not rhetoric, and I wasn’t about to vote to tank the economy.

While the bill has its flaws, I voted to stand with working families and
protect us from a disastrous default that would have killed jobs and
skyrocketed unemployment.

[ [link removed] ]Watch my video to learn more about why I stood with President Biden at
this critical time:

[ [link removed] ]WATCH

Thanks for watching. I’ll have more updates soon,

— Adam

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