Sens. Mark Udall (D-CO) and Michael Bennet (D-CO) voted for the bill to prevent a government default and lift the debt ceiling, but both are voicing criticism of the bill and the process that lead to the compromise.
Udall, although critical, does think that this bill was crucial and an important first step towards balancing the budget, according to a press release. Udall said:
I'm not going to say this bill is what I had hoped for. Among other things, it does nothing to ensure that the wealthiest among us will help shoulder the burden of balancing our books. It doesn't end the wasteful tax breaks for multi-billion dollar corporations that ship our jobs overseas. It also fails to reduce the debt by the $4 trillion economists and market experts have said is essential to provide the shot in the arm of certainty that businesses need to expand and start hiring again. But it will protect our economy from crisis and make a down payment on our debt, two critical first steps.
Bennet voiced criticism in a press statement, but also agreed with Udall that this bill was a necessary step to avoid “self-inflicted” default, saying:
Why Washington took so long to resolve a crisis that was entirely of its own making is puzzling to me and to the people of Colorado. No mayor in Colorado would be willing to risk the credit rating of his or her municipality to make an ideological point, and Washington shouldn’t be any different. The agreement reached today isn’t perfect; this is not a bill that I or any one Coloradan would have written. But it was a necessary step to avoid a self-inflicted default that would crater our economy, hurt working families and blow an even bigger hole in our deficit. And while I wish it would have gone further, this bill makes a significant down payment on deficit reduction and creates a bipartisan path forward to get our fiscal house in order.
Bennet had strong words for Fox31 when talking about the legislative process that took place to reach this bill, however flawed:
I think it was a pretty horrible process, and I wouldn't say that it worked. I've said several times on the floor of the Senate that there's a reason why the poll numbers for this institution are in the basement. And we need to do better.
Bennet will be holding a meeting to discuss the debt crisis issue Wednesday at the Tivoli Student Union on the Auraria campus in Denver at 11 a.m., according to CBSDenver.
The emergency legislative compromise reached will raise the debt ceiling in exchange for more than $2 trillion in long-term spending cuts, according to The Huffington Post.