WASHINGTON, DC — Congressman Fred Upton (R-MI), chairman of the House Committee on Energy and Commerce, made the following statement after tonight’s vote to avoid default on our national debt and put our fiscal house back in order. The Budget Control Act of 2011 passed the House by a vote of 269-161 and now heads to the Senate for consideration.
“After 31 consecutive months of double-digit unemployment, failure to act is not an option for Michigan families. This agreement begins to address our nation’s long-term debt with firm spending cuts and caps, now and in the future. I voted for this agreement to ensure that we will not allow the full faith and credit of the United States to be compromised. The agreement will avert a default on the national debt, which would drive up interest rates, create major financial disruptions, and harm the U.S. economy. Meaningful spending cuts with real tools to enforce them are the reforms we need to finally stop the deficit spending and protect the next generation. Enactment of this agreement will keep our nation from default and protect Michigan families and job creators from untold economic damage.”