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Sen. Paul Introduces Default Prevention Act

Jan 22, 2013

WASHINGTON, D.C. - This afternoon, Sen. Rand Paul introduced the Default Prevention Act, which would require the President to prioritize federal revenue to interest on the national debt. Since the current debt limit was reached on Dec. 31, 2012, it is expected that the extraordinary measures the U.S. Treasury has taken to continue funding the government will be exhausted before March.

In order to remove any chance of government default, Sen. Paul's legislation spells out which government-funded programs should be held at the highest priority to continue funding, while paying down the interest and principal on debt held by the public.

"Some of my Republican colleagues in the House have decided to surrender to the Democrats' annual plan to increase the debt ceiling. I believe we should stand and fight for a Balanced Budget Amendment to the Constitution before we raise the debt ceiling. My legislation takes the possibility of default off the table so we can continue to push for fiscal restraint. There is no reason the government would - or should - responsibly consider the idea of default," Sen. Paul said.

Contact Senator Rand Paul at One of his Offices

Bowling Green - Main State Office
1029 State Street
Bowling Green, KY 42101
Phone: 270-782-8303

Owensboro
423 Federica St, Ste 305
Owensboro, KY 42301
Phone: 270-689-9085

Crescent Springs
541 Buttermilk Pk Ste 102
Crescent Springs, KY 41017
Phone: 859-426-0165

Lexington
771 Corporate Dr, Ste 105
Lexington, KY 40503
Phone: 859-219-2239

Louisville
600 Dr. Martin Luther King Jr. Pl,
Rm 1072B
Louisville, KY 40202
Phone: 502-582-5341

Hopkinsville
1100 S. Main St, Ste 12
Hopkinsville, KY 42240
Phone: 270-885-1212

Washington, DC
124 Russell Senate Office Building
Washington DC, 20510
Phone: 202-224-4343