'It’s About Time': Local Reps Sound Off on Debt Deal

U.S. Reps. Dan Lipinski (D-3rd) and Judy Biggert (R-13th) Monday voted in favor of the Budget Control Act, S. 365, a compromise that narrowly averted a federal government default. The Senate passed the last-minute deal Tuesday morning, sending the bill to President Barack Obama's desk only hours before an Aug. 2 default deadline.

Biggert, who currently represents Romeoville, issued a statement Monday on the end of debt ceiling deal negotiations, saying, "It's about time."

She called the legislation “a compromise that makes substantial progress toward putting our economy on a stronger, more sustainable path.”

Biggert said the deal isn’t perfect, but “will stop a job-killing default, substantially cut spending, and hold Congress and the president accountable for spending decisions down the road. 

“Most importantly, it doesn’t raise taxes,” Biggert said in her Monday afternoon statement.

Lipinski, whose 3^rd District will include Romeoville under a , also supported the debt ceiling deal.

"For months I have said that both parties need to come together to do what is right for America — avoid a devastating default while reducing the deficit in a way that preserves essential investments for the middle class," Lipinski said in a statement. "[Sunday], with just 48 hours to spare before a default, a compromise was finally achieved.”

Like Biggert, Lipinski said the deal wasn’t perfect.

“My preference would have been for a bipartisan ‘grand bargain’ that paired spending cuts with the elimination of unjustifiable special-interest tax breaks and loopholes. Sadly, negotiations between President Obama and Speaker [John] Boehner broke down before such an agreement could be reached,” he said Monday.

Lipinski said he was frustrated by the posturing on the both sides of the aisle that nearly derailed negotiations with hours to spare before a default.

“If not for the continuing efforts to score political points,” the congressman said, “I believe we could have reached an agreement sooner, achieved a better outcome, and spent the past months focused on jobs rather than the debt ceiling." 

In May, Lipinski voted against increasing the debt ceiling without significant deficit reduction. The compromised bill caps spending, cuts the deficit by $917 billion over 10 years, and establishes a mechanism for increasing the debt ceiling through 2012.

The bill also establishes a bipartisan, bicameral committee to craft a bill cutting the deficit by an additional $1.5 trillion or more, with the bill going before the House and Senate for a vote before the end of the year.

“In casting my vote, I bore in mind that 14 million Americans are unemployed and job creation has slowed to a trickle,” Lipinski said. “Given the fragile state of the economy, it would have been deeply irresponsible to either permit a government default or fail to address our overwhelming national debt, as each represents a grave threat to economic growth.”

The compromised deal permits vital U.S. borrowing by the Treasury in exchange for more than $2 trillion in long-term spending cuts.

“From the beginning, I have stated that we need to cut the deficit while protecting the middle class and make sure our government can pay its bills,” Lipinski said Monday in a press statement. “My focus now is on carefully studying the legislative language to make sure it does the right thing for the American people and will in fact accomplish what it is supposed to accomplish.”

The bill was later signed by the president.