Shuster says allowing government default would be reckless

Rep. Bill Shuster (R-Penn.) said on Thursday that he voted to end the federal government shutdown to prevent the government from going into default.

“This 113-day extension of the debt ceiling averts a major economic crisis while providing a framework to continue the conversation of spending reform,” Shuster said.

He said that defaulting on the government’s debt would be reckless and “not an option.” He said the economic cost would have been astounding, putting life savings, retirement accounts and 401ks at risk.

“A default would cost one trillion dollars to the U.S. economy, and the trickle down impact on hardworking Americans… would have been devastating,” Collins said.

He said the vote was about doing the right thing for his constituents and the nation.

“I share many of my constituent’s frustration with government overspending, which is why I voted to keep the fight alive,” Collins said.

He said in order to prevent default; he voted to pass an imperfect bill to buy some time and continue the conversation about spending reforms and entitlement programs.

The Continuing Appropriations Resolution maintains current sequestration-funding levels until Jan 15, and raises the debt ceiling until Feb 17.

“Now we have 113 days to make real progress on spending and reforming entitlement problems,” Shuster said.