Warnock: Lawmakers shouldn’t be ‘playing chicken’ with the American economy
Sen. Raphael Warnock (D-Ga.) said lawmakers shouldn’t be “playing chicken” with the American economy as the threat of a national debt default later this year looms.
“The last thing we ought to be doing is playing chicken with the American economy,” Warnock said on ABC’s “This Week” in an interview with Jonathan Karl. “We’ve been through the onslaught of a very long pandemic that has created a lot of challenges for American families.”
Warnock’s warning comes as lawmakers squabble over how to deal with a possible national default as the U.S. approaches its $31.4 trillion borrowing limit. Democrats have urged for the swift passage of a debt ceiling increase while Republicans have said they will not agree to any legislation unless there are spending cuts from Democrats and the White House. The Biden administration has said it will not negotiate with Republicans on the debt ceiling.
But the reality of an American debt default could prove disastrous for the economy. Warnock crystallized this fear, warning the shocks of a default would disproportionately affect those at the bottom fringes of the economy.
“The people who are on the margins, who are the most vulnerable, are the ones who will suffer the most,” Warnock said on ABC. “This is not a game. This is peoples’ lives.”
Treasury Secretary Janet Yellen said last week the department will take “extraordinary measures” to fend off a default.
Warnock also said on Sunday that he agrees with the appointment of Robert Hur, the special counsel who is tasked with investigating the classified documents of President Biden.
“Let me say at the top that classified documents are to be taken seriously. And they are to be handled with a great deal of care,” Warnock said. “And no one is above the law. So I’m glad to see the Justice Department doing its work, and we ought to let that work proceed.”
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