With the U.S. government expected to hit its borrowing limit in early October, Rep. Kevin Brady (R-TX), Chairman of the Joint Economic Committee, today called upon President Barack Obama and Congressional Democrats to the “come to the negotiating table” and “find a bi-partisan solution that puts Washington on a responsible fiscal path.”
“Over the weekend the President stressed the importance of having the nation pay its bills and demonstrate its credit-worthiness to the world. I agree with those sentiments. But he also repeated that he has no intention to negotiate with Congress over the size of the federal budget and how much he intends to borrow to sustain it.”
“If, as many anticipate, the Federal Reserve tapers its purchases of long-term U.S. Treasuries and mortgage-backed bonds (known as ‘quantitative easing’) the pressure will be back on the President and Congress to get our country back on the road to ‘regular order.’”
“Our country is enduring the weakest recovery since 1960. If the President seriously wants to see unemployed Americans get jobs, it is time he started doing his job. And one of the most important parts of the job of being President is sitting down with the people’s elected representatives about the public’s pressing business.”
Brady said that he intended to urge his Democratic colleagues at today’s JEC hearing to implore the President to negotiate with Congress. The Joint Economic Committee will be holding a hearing this afternoon at 2:30 p.m. in Hart SOB 216.