Illinois U.S. Senator Dick Durbin urged Republican lawmakers to raise the nation’s $14.3 trillion debt limit, warning lawmakers that failure to do so could result in higher interest rates for the U.S.
The Illinois Democrat chided Republican lawmakers, questioning their votes on funding the wars in Afghanistan and Iraq, while simultaneously voting in favor of raising the debt limit five times during President George W. Bush’s administration.
“So those who have voted time and again for us to go to war, or stay at war, or stay longer at war have to pay the bills for the men and women in uniform to keep them safe,” Mr. Durbin said. “What we need to do is accept responsibility.”
The Illinois Democrat conceded that a deal is likely to be reached in the coming days, saying Republican lawmakers will not vote in favor of allowing the U.S. to default on its debt.
“When the doors close and the cameras are off, every leader sitting down with the president said we cannot default on America’s debt,” Mr. Durbin said. “If we call into question the full faith and credit of the United States for the first time in our history, interest rates will go up and this recession will get worse. We will lose jobs and businesses will fail.”
Mr. Durbin’s comment comes as the Republican-controlled House voted in favor of a proposal imposing spending cuts and caps on federal spending. Mr. Obama has threatened to veto the measure, however, U.S. senators have already said the bill will not face a vote in the upper chamber.
