Pelosi Statement on Ongoing Debt Talks

Contact: Nadeam Elshami/Drew Hammill, 202-226-7616

Washington, D.C. -- Democratic Leader Nancy Pelosi released the following statement expressing hope for greater progress with respect to the ongoing debt talks with Republican leaders:

"For the past several months, Congress has been put to the test of whether we are worthy custodians of our nation’s economy and our children’s future.

"National and international markets are watching to see how aware we are of America’s preeminence in the world economy. CEOs around boardroom tables warn of the consequences of default. Families around kitchen tables are shaken by the prospect of no Social Security checks and a job market further weakened by failure to act.

"President Obama has provided leadership for a bipartisan, balanced 'grand bargain' that includes over a trillion dollars in cuts. The President has given respect and substantial time to consider Republican suggestions. He has been true to democratic values and the concern of the little guy in our great country.

"The delay in bringing forth a solution springs from the Republicans’ decision to walk away from 98 percent of the American people to protect the assets of the top 2 percent of the wealthiest people in our country.

"House Democrats have always been, and remain prepared to make the difficult choices necessary to reduce the deficit as we create jobs and protect Social Security and Medicare beneficiaries. But we will not make working families and the middle class sacrifice without also calling on everyone to contribute their fair share.

"Democrats remain committed to a solution that is long term, balanced and bipartisan; to do anything less would be irresponsible."

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