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Dear FreedomWorks member,
As one of our millions of FreedomWorks members nationwide, I urge you to contact your Representative and urge him or her to support the Full Faith and Credit Act, H.R. 807. Introduced by Rep. Tom McClintock (CA-4), this bill would force the Treasury Department to prioritize necessary payments on the debt over all other government spending in the event that the debt ceiling is reached.
The idea that reaching the debt ceiling would result in the United States being unable to pay its creditors has been thoroughly debunked by a multitude of analysts and economists. The revenue generated through taxation and other sources provides enough cash to not only pay the interest on the debt, but also to pay for most autopilot spending such as Medicare, Social Security and military pay.
Simply put, for the United States to default on debt payments, the President would have to choose to do so. However, since the administration has continually insisted upon threatening default, the Full Faith and Credit Act will take that option entirely off the table. This is a simple, common-sense protection, and it is surprising that only 64 Representatives have currently co-sponsored the bill.
Thus, I urge you to contact your Representative and urge him or her to support the Full Faith and Credit Act (H.R. 807) and to co-sponsor the bill if they have not already done so.
President and CEO