On Wednesday, Oct. 21, Congressman Brett Guthrie (KY-02) voted in support of legislation to ensure the United States government does not default on its current debt and that Social Security payments will continue to be issued even if the debt limit is not raised.
“Today’s vote is important to protect the full faith and credit of our country as Congress evaluates our current borrowing limit,” said Guthrie. “As we work to address our skyrocketing debt and get our spending under control, it is imperative that we do not compromise certain obligations in the process.”
H.R. 692, the Default Prevention Act, will ensure that, if the debt limit is reached, the U.S. Treasury Department will still be able to make principal and interest payments on federal debt, including Social Security payments, which, under this bill, are to be made in full and on time. Additionally, H.R. 692 will prohibit the treasury from using these funds to compensate members of Congress or to initiate any new spending.
Earlier this week, Guthrie supported H.R. 1315, a bill requiring President Barack Obama’s annual budget submissions to include an estimate of the cost-per-taxpayer of any proposed deficit spending. Guthrie has also cosponsored a balanced budget resolution.
“We are long overdue to put our fiscal house in order. By taking these steps and working to address our looming fiscal challenges, I am hopeful we will be able to tackle these big issues and put our country on a path toward eliminating our debt, reducing our spending, and ultimately providing for our children and grandchildren to succeed,” said Guthrie.