Painful recession. Were not interested in negotiating on those terms because its not in the best interest of the American People. Im pleased that weve been joined by the distinguished representative from the great state of california, let me now yield time to representative barbara lee. Mr. Lee thank you very much. First let me thank you, both congressman jeffries and congress mrman horsford, for your tremendous leadership, your vigilance and your diligence. And we appreciate your conducting these special orders to make sure that the American People know the truth about whats taking place here in washington, d. C. Ms. Lee also i have to salute our chair of the Congressional Black Caucus, the gentlelady from ohio, congresswoman marcia fudge, for her leadership and he suring that the entire member the entire Congressional Black Caucus continues to be the conscience of the congress. Here we are 14 days into the Tea Party Republican shutdown and three days away from the Party Republican government default, which would be the first in american history. Since taking control of the house of representatives two years ago, the tea party has governed by brinksmanship. First they were unable to accomplish their goals of decimating the government through legislation, so they have resorted to the type of tactics that eventually led to the sequester and to the shutdown of the federal government. Now, the last time that the republicans refused to lift the debt ceiling and relied on bringsmanship to get their way, a supercommittee was formed as way to reach compromise. Which of course didnt work and that led to the sequester which has caused devastating acrosstheboard cuts to programs that the American People rely on, including 57,000 slats slots which were cut from head start already. And services such as meals on wheels that our seniors depend on for a nutritious diet. As a member of the Appropriations Committee and the budget committee, i have joined democrats in demanding an end to sequester and fought to restore the cuts to these vital programs. Yet even though we disagree with the funding level that these reckless cuts enacted, sequester as a horrific action that we took, unfortunately. Its wreaked havoc on the lives of so many people. Even though we oppose that, we have agreed to vote for this budget, to reopen the government, and to put people back to work and to provide the desperate services that people need. Then of course to add insult to injury, republicans insisted on shutting down the government, all because of an obsession with repealing and destroying the Affordable Care act. Now, the Affordable Care act is the law of the land. It has been upheld by the Supreme Court and americans are finally enrolling in coverage that theyve been waiting for for years. Just to gain access to Affordable Health care. In fact, in its first week, the covered California Exchange in my home state had nearly one million visits to its website and californians have begun filling out nearly 44,000 applications for coverage. The only thing that the Tea Party Republicans have accomplished with this shutdown is the loss of nearly 4 billion in Economic Activity and misery and pain for the American People. They continue to deny federal workers, the National Park service, lifesaving cancer research, pregnant women, mothers, young children, seniors and veterans who have risked their lives for the nation, they have denied them a fully functioning government. With shame and disgrace. In my own county, funds for the wip, infant and Children Nutrition program and funds for the temporary assistance for needy families, these funds will run out at the end of the month. These are consequences of the default. Republicans have simply refused to listen to what the vast majority of americans are saying. And now the Tea Party Republicans are willing to risk the nations Credit Rating and the World Economy to achieve their goals. If the tea party refused to raise the debt ceiling and force a default on this nations debt, which, mind you, are bills that we have agreed to pay, every American Household will feel the impact. Retirement savings will be lost. Mortgages will be harder to get. The full faith and credit of the United States is nonnegotiable. We are not a deadbeat nation and should pay our bills. Its time for the Tea Party Republicans to end the brinksmanship, open the government up, put people back letsk, pay our bills and begin to negotiate on a real budget that ensures the American Dream for millions of americans who this dream now quite frankly is turning into a nightmare. Thank you and i yield back the balance of my time. Mr. Jeffries congresswoman lee, thank you for continuing to be an unyielding advocate for the down ready toen, the disaffected and the disenfranchised in such a tremendous way. Et me now yield to the distinguished member of the freshman class, also joining us from the great state of texas, my good friend, representative marc veasey. Mr. Veasey mr. Speaker, id like to take the time to thank my friend from new york and the gentleman from nevada for helping put together this special order hour on whats really important in this country and we know just how vital and vibrant we want our economy to be and its hard to do that if were not taking care of our credit. And i appreciate both of these gentleman for gentlemen for taking this hour to talk about this. I would also like to thank my colleague from texas, Sheila Jackson lee, who spoke so eloquently on so many different areas in government that would be affected if we were to have a shutdown and how the Affordable Care act is helping americans. Helping working americans do better. And whether youre from houston, where sheila is, or the north texas where, where im from, in the dallasfort worth area, people are concerned. People are starting to get very worried about the very dangerous prospect of approaching the legal debt limit, since we are only three days away from default. In 2011 the Credit AgencyStandard Poors downgraded the u. S. Credit rating for the first time in history. S p said this back then, the political bringsmanship of recent months highlights what we see as americas governance and policymaking becoming less stable, less effective and less predictable than what we previously believed. The legal debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Following that particular downgrade, it is estimated that job growth took a 28 nosedive. Can we afford a 28 nosedive right now . I think not. This also cost americans more than 200,000 jobs, right when were starting to do better. The economy is starting to be kicked into motion, from what was a very bad period over the last several years. We cant afford 200,000 jobs right now. We have to do everything we can to get ourselves out of the situation that were in now. Also important is that Consumer Confidence dropped to levels mirroring those during the great recession. Which had a negative impact on Economic Activity. The g. A. O. Found that taxpayers paid 1. 3 billion in additional interest. Let me repeat. That the g. A. O. Found that Hardworking Taxpayers paid 1. 3 billion in additional interest costs because of the delayed 2011 debt limit increase. Is that what we want the Hardworking Taxpayers of our country to have to pay, additional taxes because we cant get our act together . Because the republicans cant get their act together on the debt ceiling . Two years after the s ps bleak assessment, and the clear economic data, here we are again, brought to the brick. Brink. What must be clear is what the debt limit is and what it is not. Increasing the debt limit does not increase the federal debt. It does not give a blank check to our government to spend all it wants. Increasing the debt limit will simply allow the federal government to pay bills that congress has already accrued. Some of the payments of the federal government must make are Interest Payments on treasury bonds, Social Security and medicare benefits, military, active duty pay, retirement and v. A. Benefits. If the tea party refuses to allow the government to honor these financial obligations, that are so dear to many of americans, to our family members, to people in our communities, then investors will likely lose faith in the government and demand higher Interest Rates for treasury bonds. We cannot allow our country to become a dead beat nation that doesnt pay its bills. Lets move beyond these silly partisan games. We have the American Economy at stake here. And more importantly, we have the economic livelihood of every american in our hands. The full faith and credit of the United States should not be up for negotiation. It is time for congress to raise the debt limit like they have in the past so many times before. And for republicans to end their losing game of brinksmanship and realize that they are damaging american lives every day. Lets do more for the Hardworking Taxpayers in our country that make our country great. I yield back. I want to thank the gentleman. Mr. Jeffries i thank the distinguished gentleman from texas. For his observations and for hiser to cal analysis. Thingsg out that raising have occurred throughout the last century here in america. , want to enter into the record White House Correspondent that reads in part as follows. This country now possesses the strongest credit in the world. The full consequences of a default or even a serious prospect of default by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic Financial Markets and on the value of the dollar in exchange markets. The nation can ill afford to allow such a result. Mr. Speaker, this letter is dated november 16, 1983. And those words were written by then president Ronald Reagan to Senate Majority leader howard baker. The nation can ill afford to allow such a result. Ronald reagan raised the debt ceiling 18 times during his two terms. And yet our good friends on the other side of the aisle want to come here and lecture president obama as if hes being irresponsible when the paragon of conservative president ial leadership recognized the necessity on 18 occasions and as memorialized in this correspondence of raising the debt ceiling. Were pleased that weve been joined by the distinguished gentlelaid fromy from columbus, ohio, who from column gentlelady from columbus, ohio, who has conducted herself with such grace here and were proud to call her a member of this freshman class. I yield now to representative joyce beatty. Mrs. Beatty thank you, mr. Speaker. And thank you, mr. Jeffries and to mr. Horsford. It is an honor for me to stand here on this floor with you. As a colleague in our freshman class. But first let me thank you for your leadership and also to congresswoman marcia fudge from my great state of ohio, as president of the Congressional Black Caucus. As i stand here tonight, i am reminded of the words of Martin Luther king. When he said, the ultimate measure of a man is not where he stands in a time of comfort and convenience. But where he stands in a time of challenge and controversy. Mr. Speaker, i rise today during this time of challenge and strongersy to express my concern over republicans failure to immediately raise our countrys debt limit. The failure to act is threatening an imminent default on our nations financial raising the debt ceiling does not grow our deficit, but allows the treasury to pay for what this congress has already spent. What are the facts . Since 1917, the debt limit has been raised 103 times. In recent history, it has been raised 45 times. And as you have heard my colleagues state 18 times during Ronald Reagans presidency. And in 237 years since our countrys founding, we have never defaulted on our financial obligation. Yes, never. But if republicans refuse to increase the debt limit by october 17, the secretary of the treasury has indicated very clearly that we wont be able to pay our outstanding debts on time. Quite frankly, this is unthinkable. The full faith and credit clause of the United States constitution directs that the United States will pay all its debt in full and on time, every time. Americas full faith and credit has been the basis for our Global Economic superiority for at least 100 years. Like ordinary americans, if the federal government does not pay its bills on time, then when it comes to time to borrow in the future, the Interest Rates we pay will be much higher. If the debt limit is not raised, americans will feel the impact immediately, both directly and indirectly. Who louises . Payments owed to who loses. Payments owed to our soldiers will be delayed. Four million disabled receive monthly payments. If we default, they will not receive their benefits on november 1. In my home, the great state of receive 3 veterans disability compensation. It would be unthinkable for us to fail to pay them and the benefits they have earned for their services. Who loses . The debt ceiling is not raised, more than 36 million Social Security recipients will not received of receive their earned benefits. In ohio, many rely on Social Security to make their ends meet. A default would force them to choose between paying their rent or buying groceries. It is not a choice that congress should force on our constituents. Americans will see a sharp spike on Interest Rates offered on home mortgages, credit cards, car payments, Student Loans. The spike will have an immediate, devastating, negative impact on our Nations Housing recovery, which has been a driving force in recent economic growth. If americans default, the average homeowner will pay an extra 100 a month in increased Interest Rates. This will cost families 36,000 over the life of a typical 30year home loan. And as the stock market reacts to the most significant defaults in modern history, you can expect to see drops in your i. R. A. s, 401ks. Just last week, the secretary of the treasury reported that if the nation were to default on our debt, the results would be catastrophic, yes, catastrophic with many pleesk that it would lead to the events of the magnitude of the late 2008 or worse. We are still recovering from the worst recession in 80 years. We simply cannot afford to go backwards. To go to doubledigit unemployment, declining housing. Alues, the Financial Markets americans deserve swift action. I implore House Republican leadership to bring to the floor a bill which will raise the debt limit so the treasury can continue to pay all of its bills on time. And lastly, i turn to the other imminent crisis, reopening the federal government. Throughout this hour, you have heard my colleagues talk about the choices that you force americans to make when you try to piecemeal our funding. And its worth me repeating to say, its like having a family and having parents having seven children and decide that youre only going to feed three of them and watch the other four children starve before your eyes. We stand on this floor as democrats and republicans every day and we talk about how we care for this america, how we want to provide services, but yet, were making americans make a choice between n. I. H. Funding for children who are cancer patients, who need to be in clinical trials. We make a decision to pull the funding, federal funding in 11 states, that theyre losing their head start grants. And the list goes on and on. This is not the america i know. This is not the america i love. Americans deserve better. Lets reopen the doors of government and lets raise our debt ceiling. And i yield back. Mr. Jeffries i thank the distinguished gentlelady from ohio for her eloquent remarks. Mr. Speaker, how much time is remaining on this special order . The speaker pro tempore nine minutes. Mr. Jeffries we have also been joined by another distinguished member of the freshman class, representative from great state of new jersey, my good friend, congressman donald payne. Thank you, mr. Speaker. I recognize may you and say you look very good in that chair. Mr. Speaker, i would like to thank the gentleman from new york and the gentleman from nevada for having this special or