Washington, DC – In order to avoid a national financial crisis, the U.S. Conference of Mayors (USCM) is calling on Congress to extend the debt ceiling and avoid the kind of brinkmanship that could threaten the American economy. Demanding bipartisan and urgent action, USCM President Dayton (OH) Mayor Nan Whaley released the following statement:
“Both parties in Washington have added to our debt, and both parties have an obligation to make sure the United States can continue to pay its bills. This is one of the most basic responsibilities of Congress, and there is no good reason for lawmakers to create a crisis that undermines the full faith and credit of the United States. Failure to increase the debt limit would send our economy into freefall and destroy the federal-local partnership that is so important to American cities. Health care, food security, education and housing would all be in grave danger. A default would also trigger catastrophic ripple effects through credit markets and hamper the ability of city governments to finance our own services. This is no time to allow partisan politics to reverse the progress we’ve made. Congress must act now to secure our economic future and maintain our global standing.”