Larson on the Debt Ceiling

During a broad-ranging discussion about the nation’s financial management in Washington on Tuesday, House Ways and Means Committee member John Larson urged his colleagues to take the debt ceiling off the table.

Larson, a Democrat from the 1st District, argued that the device, meant to give the Treasury Department greater flexibility, has actually hurt the economy. That’s because discussions about raising it often create confusion  and uncertainty for businesses, local governments and individuals.

“The American people deserve the certainty that Congress will not play hostage politics with their pensions and their 401ks,” Larson said. “While it is crucial that we find ways to deal with our national debt, we cannot forget the impact of holding the future of our economy hostage. We must remember how our actions will affect our cities and towns, like East Hartford, Connecticut, where I was recently told that if we cannot provide some certainty again, they will be forced to go out to the bond market in this very difficult time.

 “It is my hope that both sides of the aisle will work together to take away this uncertainty, and take the debt ceiling off the table.”

Meanwhile, back in Connecticut, Larson will hold a forum on the debt ceiling Thursday night in East Hartford. The meeting will be held from 5:30 to 7:30 p.m. at the East Hartford Cultural Center Auditorium, 50 Chapman Place, which is off Main Street. Bring your questions.