Texas Congressmen Join Leading SA to Discuss Temporary Debt Ceiling Lift
This week has been a whirlwind on Capitol Hill. There have been discussions on everything from the debt ceiling to the spending bill to the infrastructure bill. So what exactly does this mean to us here in San Antonio?
Congressman Tony Gonzales (R, District 23) and Congressman Henry Cuellar (D, District 28) joined Leading SA on Sunday to break everything down.
“The debt ceiling is basically the maximum amount the United States can have. You can borrow using bonds and the danger and default of any loan. Will it have an impact on all of us? This will definitely have an impact on the stock market. It will certainly have an impact on our retirement savings and things of that nature. So it’s important that in Washington we make sure the debt ceiling doesn’t default, ”said Congressman Tony Gonzales.
At the moment, it seems that there is a temporary solution, but the situation will be readjusted in December.
“I wish we hadn’t given up on it because when we talk about the debt ceiling it is to raise it so that we can go ahead and borrow money for what has been spent . For example, President Trump has added $ 7 trillion to debt for years. So we have to pay this debt and other debts have been accumulated by Democrats and Republicans, ” said Congressman Henry Cuellar.
There are a lot of bills on the table on Capitol Hill, but if the debt ceiling is not determined it would be problematic for people across the country and here in San Antonio.
“The reality is in Washington. Democrats control everything, they control the House, they control the Senate and the White House. So, when you are the party in power, it is your duty to ensure that the debt, the debt ceiling and other government functions are not in default. They could. They could pass this without a Republican vote, like many things they can pass without a Republican vote, ”Congressman Tony Gonzales said.
“We both understand that we need to sort this out. Three hundred and seventy-eight billion dollars that we pay each year in interest, the imaginary interest that we are paying now, 378 billion dollars a year. We need to do something about this debt ”, said Congressman Cuellar.
The last thing either lawmaker wants to see is a flaw. Another point of contention is the $ 3.5 trillion spending bill.
“Everyone is talking about $ 3.5 trillion. I’ll tell you, Max and Sarah, I wasn’t in the room when someone found $ 3.5 trillion. Some people got that number and they want to fill it with taxes and they want to fill it with expenses. This is not how we budget. We look at what the necessities are, so we have to look at what we can afford, ” said Congressman Cuellar.
You can watch the full interviews in the video player above.
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