Rep. Barney Frank, D-Mass.: "The debt ceiling is not a decision about the future. It’s an acceptance of past responsibilities. And I think this debate has gotten framed a little oddly. It's as if I'm asking people to do me a favor by raising the debt limit. I didn’t vote for the Iraq war; I didn't vote for the Bush tax cuts for upper income people; I didn't vote for the prescription drug bill. Both parties are responsible for much of that debt. The debt is a payment for things we’ve already done. Not paying the debt…will add to our interest rates; it will destabilize us."
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