"We are on the cusp of averting a default — but we need your help to urge Congress to quickly pass the debt ceiling deal that was struck this weekend. The deal isn’t perfect — but it prevents default, reduces spending, and avoids higher taxes. In short, it gets the job done. Now we need you to email your members of Congress to urge them to quickly pass this bill," said Bill Miller, U.S. Chamber of Commerce.
He added: "This agreement would cut spending by more than the increase in the debt ceiling, provide a workable, enforceable mechanism to ensure that the cuts actually take place, allow for a vote on significant reform to the budget process, and avoid a default by the U.S. government that would create enormous economic harm. Not passing this bill would be catastrophic. If Congress cannot reach an agreement by tomorrow, the federal government would be forced to default on its debts. That could lead to higher interest rates and higher costs for employers and consumers alike."
And finally: "The impact of this default on our already-weak economy could be enough to push us back into a recession. The stakes are high. Congress must pass this bill as soon as possible. Make no mistake; this debt ceiling deal is only a first step toward getting our fiscal house in order. After the president signs this bill, our leaders must get to work at once to restore economic growth, reduce spending, and put America back to work. "
Thanks to Bill Miller of the U.S. Chamber for being on top of the issues that matter to business.
Read more: http://www.digitaljournal.com/blog/12512#ixzz1TtoN3iOg