Shaheen Statement on Bipartisan Agreement in Principle to Avoid Catastrophic National Default
**Agreement follows Shaheen’s calls for bipartisan resolution to avoid default**
(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) released the following statement in response to an announced bipartisan agreement in principle between the White House and Congressional Republicans to avoid a national default, which would be catastrophic for the United States’ economy and carry significant implications for New Hampshire families, workers and industries:
“I'm glad that Democrats and Republicans reached a bipartisan compromise in principle to avert what would have been a catastrophic default for our nation, with significant ramifications for New Hampshire. I am particularly relieved for New Hampshire’s working families and small businesses, who often rely on benefits and resources that would have been delayed or even cut off. During my statewide tour this past week, I spoke with Granite Staters across the spectrum who shared their fears about the devastating impacts a default would have caused. While this deal isn’t perfect, no compromise is – the fundamental goal was to prevent a catastrophic default on the United States’ existing financial obligations and to protect the social safety net for New Hampshire families. This agreement in principle achieves those goals.
“At a time when our adversaries are constantly looking for ways to undermine faith in democracies, the United States must preserve our reputation and strength on the world stage. The infighting we have seen over the past months imperils that standing, weakens our position and emboldens their efforts.
“Confidence in our economy is key to this goal, and we should be working together to protect and enhance our status as a global economic leader. This includes preserving the U.S. Dollar as the world’s reserve currency. While I am grateful a compromise in principle has been reached, it never should have come to this. It is unacceptable to manufacture a crisis that uses the American people as pawns in a political game and gambles with our economy like it’s a bargaining chip. Those actions must end. We need to remove the threat of the debt limit to prevent this in the future, or partisan obstruction will continue to hold our economy hostage.”