Senator Blumenthal Statement on Vote to Raise the Debt Limit, Avoid Default

(Washington, DC) – Senator Richard Blumenthal released the following statement today after voting in favor of S. 365, a bill to raise the debt limit:

“While this bipartisan agreement was far from perfect, I voted in favor of it because the economic consequences of default were too dire and devastating to risk. Default would have stifled job creation and economic growth and would mean an increase in interest rates for every American with a mortgage, car loan, student debt, or credit card. This compromise has made record cuts in spending while protecting benefits that seniors receive through Social Security and Medicare, and preserving veterans’ services and programs. I look forward to reviewing the recommendations of the Joint Committee, and will continue to support a balanced approach that raises revenues by closing tax loopholes and giveaways to special interests. Now, we must return our focus to our number one priority – creating jobs and spurring economic growth.”

###