Debt Default, Sequestration Threatens All Americans

Jul 25, 2019 Issues: Economy and Jobs

Washington, D.C. – Congressman Frank Lucas (OK-03) released the following statement after the U.S. House of Representatives passed H.R. 3877- Bipartisan Budget Act of 2019. Lucas supported the legislation.:

“Today, the House took the first step in sending a bipartisan Budget deal to the President’s desk. This piece of legislation would protect Americans from the devastating effects that would come from defaulting on our national debt or crippling sequestration cuts.

While the bill isn’t perfect, President Trump and congressional leaders, from both sides of the aisle, are acting to protect the full faith and credit of the United States, provide clarity moving forward with the appropriations process, and are committed to the rebuilding and modernization of our military.

While I’m still concerned about increasing our national debt, I’m more concerned with the crippling economic effects that would be felt by all Americans should the U.S. default on the national debt and witness automatic sequestration cuts.”