Thursday, August 11, 2011

Sen. Franken's recent email

“As I have said all along, the consequences of failing to raise the debt ceiling and defaulting on our debt would be disastrous to all Minnesotans. Unfortunately, in a game of chicken, the player most concerned about protecting the full faith and credit of the United States is put in the most difficult position.

“As a result, the deal that has been struck is not balanced, as I would have preferred. It does achieve the laudable goal of reducing the deficit, but does so with only cuts, even though a significant majority of Americans, including a majority of Republicans, favor closing loopholes for corporations and tax increases on the wealthiest Americans to make sure everyone is paying their fair share.

“Nevertheless, I will vote for this package, because defaulting would have grave economic consequences for my Minnesota constituents. The deal does protect Social Security, Medicare and Medicaid beneficiaries. And it will erase some of the uncertainty confronting businesses and the markets.

“I hope now we can get back to our job, which is to facilitate the growth of our economy and create jobs by investing in innovation, in our infrastructure and workforce, and by making sure our children get a world-class education so they are prepared for a 21st century economy.”