Biden to Congress: Deal with debt limit and without conditions
"On Friday, it was reported that Republicans have a so-called "plan" to prioritize payments if Congress fails to address the debt ceiling.
So I want to be very, very clear here, as I have been, as the President has been: This is not a plan. It is a recipe for economic catastrophe. As President Biden has made clear, Congress must deal with the debt limit and must do so without conditions.
But congressional Republicans are threatening to hold the nation's full faith and credit, a mandate of the Constitution, hostage to their demands to cut Social Security, to cut Medicare, and to cut Medicaid.
Brinksmanship that threatens the global economy.
Their latest idea is that rather than paying its bills, the United States should make payment to wealthy bondholders, including foreign investors, and stop payments for border security, food safety, nursing homes, school lunches, the FAA, drug enforcement, and other programs Americans rely on every single day."
(Press Secretary Karine Jean-Pierre, White House Daily Briefing, 17 Jan 2023)
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