“Now is the time for all parties in Washington to work in a bipartisan way to raise the debt ceiling and reduce the deficit in a balanced way with a focus on investing in job creation.
“Last night, President Obama once again demonstrated that he clearly understands that the key to winning the future includes a renewed commitment to fiscal responsibility. New Orleanians and residents in cities across our country can’t afford to let the partisan politics of Washington, D.C., dictate whether or not the United States meets its financial obligations and whether we can meet the needs of the future. We in New Orleans certainly cannot afford the consequences of a downgraded credit rating or government shutdown if the country defaults on its debt.
“The most important thing we can do to spur the economy is develop a national strategy that includes a balanced approach to reducing our nation’s deficit and investments in job creation. All levels of government must get leaner and more efficient, but cuts must be thoughtful and balanced, and we must cut smart, reorganize, and invest for the future. A cuts-only approach to reducing the deficit will hamper our ability to prosper—it could mean less funding for infrastructure and recovery projects, less CDBG funding for recreation and blight-fighting initiatives, less money for important federal initiatives like dredging the Mississippi River and coastal restoration, and less funding for public safety programs like COPS. This type of approach could have catastrophic effects on cities like New Orleans.
“President Obama continues to reiterate his commitment to New Orleans, and I am sure that his plans to reduce the deficit while increasing government efficiency will help spur the revitalization of our economy and quality of life.”
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