IN OPPOSITION TO THE FULL FAITH AND CREDIT ACT
(House of Representatives - April 25, 2013)

Text of this article available as:

Formatting necessary for an accurate reading of this text may be shown by tags (e.g., <DELETED> or <BOLD>) or may be missing from this TXT display. For complete and accurate display of this text, see the PDF.

        


[Pages H2313-H2314]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1230
             IN OPPOSITION TO THE FULL FAITH AND CREDIT ACT

  (Mr. GENE GREEN of Texas asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. GENE GREEN of Texas. Mr. Speaker, today I rise in opposition to 
the Full Faith and Credit Act, H.R. 807. This bill would allow the 
Secretary of the Treasury to take all necessary actions to ensure U.S. 
public debt obligations are paid when due and allows the Secretary to 
forego obligations not related to public debt. What this means, 
essentially, is all foreign debt will take precedence over repaying 
important domestic programs, such as Social Security. We should pass 
legislation that Social Security be paid for first, not

[[Page H2314]]

the foreign debt. Social Security is not contributing one penny to our 
national debt. We must remember that it's one of the most important 
commitments that America has made to its citizens.
  The U.S. Government has purchased credit known as ``special 
obligations'' from Social Security. The credits are backed by ``the 
full faith and credit of the U.S. Government,'' with the promise to 
redeem these credits. I support repaying the Social Security trust fund 
before any other debt is paid. Pay Social Security first before we pay 
other countries.

                          ____________________