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Mark Amodei on Budget & Economy |
Opponent's Argument for voting No:Rep. MAFFEI: The American people want us to work together--Republicans and Democrats--to reduce our debt, pay our bills, and avoid an economic catastrophe, which would result from default. This legislation presumes it will happen and maps out not if but what happens when the United States defaults. Their plan ensures that foreign creditors such as China, Japan, and OPEC countries Iran and Saudi Arabia would continue to get paid while we halt other payments to groups of Americans who have earned those benefits. This bill prioritizes Chinese lenders ahead of American seniors and veterans and college students. That's why it's called the Pay China First Act.
White House statement in opposition:American families do not get to choose which bills to pay and which ones not to pay, and the United States Congress cannot either without putting the nation into default for the first time in its history. This bill would threaten the full faith and credit of the United States, cost American jobs, hurt businesses of all sizes and do damage to the economy. It would cause the nation to default on payments for Medicare, veterans, national security and many other critical priorities. This legislation is unwise, unworkable, and unacceptably risky."
This article shall take effect beginning with the later of the second fiscal year beginning after its ratification or the first fiscal year beginning after December 31, 2016.
Congressional Summary:JOINT RESOLUTION: Resolved by the Senate and House of Representatives: That Congress disapproves of the President's exercise of authority to increase the debt limit, as submitted on Jan. 12, 2012.
Congressional Vote:Vote #4 in the House: 239 Yeas; 176 Nays; Senate declined to vote on the Resolution.
OnTheIssues Explanation: On Jan. 12, 2012, Pres. Obama notified Congress of his intent to raise the nation's debt ceiling by $1.2 trillion, two weeks after he had postponed the request to give lawmakers more time to consider the action. Congress then had 15 days to say no before the debt ceiling is automatically raised from $15.2 trillion to $16.4 trillion. Hence the debt ceiling was increased.
In Aug. 2011, the US government was nearly shut down by an impasse over raising the debt ceiling; under an agreement reached then, the President could raise the debt limit in three increments while also implementing $2.4 trillion in budget cuts. The agreement also gave Congress the option of voting to block each of the debt-ceiling increases by passing a "resolution of disapproval." The House disapproved; the Senate, by declining to vote in the 15-day window, killed the Resolution. Even if the resolution were passed, Pres. Obama could veto it; which could be overridden by a 2/3 majority in the House and Senate. The House vote only had 57% approval, not enough for the 67% override requirement, so the Senate vote became moot. The same set of actions occurred in Sept. 2011 for the first debt ceiling increase.
The Federal Reserve Transparency Act directs:
The Prioritize Spending Act requires amounts necessary for incurred federal obligations, in the event that the public debt reaches the statutory limit, to be made available to certain obligations, in prioritized order, before all other obligations. Prioritizes such obligations in the following descending order:
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2017-18 Governor, House and Senate candidates on Budget & Economy: | Mark Amodei on other issues: | |||
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Freshman class of January 2019 (Republicans):
AZ-8*:Lesko CA-39***:Kim FL-6:Waltz ; FL-15:Spano ; FL-17:Steube GA-7:Woodall ID-1**:Fulcher IN-4:Baird IN-6:Pence KS-2:Watkins MN-1:Hagedorn ; MN-8:Stauber MS-3:Guest MT-0*:Gianforte NC-9***:Harris ND-a:Armstrong NM-2***:Herrell OH-12*:Balderson ; OH-16:Gonzalez OK-1:Hern PA-9:Meuser ; PA-11**:Smucker ; PA-12*:Keller ; PA-13:Joyce ; PA-14:Reschenthaler SC-4:Timmons SD-0:Johnson TN-2:Burchett ; TN-6:Rose ; TN-7:Green TX-2:Crenshaw ; TX-3:Taylor ; TX-5:Gooden ; TX-6:Wright ; TX-21:Roy ; TX-27*:Cloud VA-5:Riggleman ; VA-6:Cline WI-1:Steil WV-3:Miller |
Freshman class of January 2019 (Democrats):
AZ-2**:Kirkpatrick ; AZ-9:Stanton CA-49:Levin ; CA-10:Harder ; CA-21:Cox ; CA-25:Hill ; CA-39:Cisneros ; CA-45:Porter ; CA-48:Rouda CO-2:Neguse ; CO-6:Crow CT-5:Hayes FL-26:Mucarsel-Powell ; FL-27:Shalala GA-6:McBath HI-1**:Case IA-1:Finkenauer ; IA-3:Axne IL-4:Garcia ; IL-6:Casten ; IL-14:Underwood KS-3:Davids KY-6***:McGrath MA-3:Trahan ; MA-7:Pressley MD-6:Trone ME-2:Golden MI-8:Slotkin ; MI-9:Levin ; MI-13:Tlaib ; MI-13*:Jones ; MI-11:Stevens MN-2:Craig ; MN-3:Phillips ; MN-5:Omar NC-9***:McCready NH-1:Pappas NJ-2:Van Drew ; NJ-3:Kim ; NJ-7:Malinowski ; NJ-11:Sherrill NM-1:Haaland ; NM-2:Torres Small NV-3:Lee ; NV-4**:Horsford NY-14:Ocasio-Cortez ; NY-11:Rose ; NY-19:Delgado ; NY-22:Brindisi ; NY-25:Morelle OK-5:Horn PA-4:Dean ; PA-5:Scanlon ; PA-6:Houlahan ; PA-7:Wild ; PA-17*:Lamb SC-1:Cunningham TX-7:Fletcher ; TX-16:Escobar ; TX-29:Garcia ; TX-32:Allred UT-4:McAdams VA-2:Luria ; VA-7:Spanberger ; VA-10:Wexton WA-8:Schrier |
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