Collins: U.S. Can’t Default on Debt

9th District U.S. Representative Doug Collins says the country needs to make it clear that it will not default.

Wednesday, Collins voted in favor of the Default Prevention Act.

Collins said that is legislation to ensure the Treasury Department continues to make payments on U.S. debt in the event that the statutory debt ceiling is breached.

He said the Default Prevention Act gives the U.S. Treasury the authority it needs to ensure the U.S. never misses a debt payment and make sure that benefits such as Social Security are paid in full and on time.

The Hall County congressman said default would mean a credit rating review, weaken the economy, and tarnish the United States’ economic standing in the world.

Collins went on to say that many constituents have mortgages, student loans, and other financial obligations and do not have the option of default, adding that many people struggle with debt while trying to make ends meet.

He said the country needs to be fiscally responsible, not point the country in the direction of further financial hardship, adding that when you get in dire straits like this, you make conservative budget goals and stick to them.