White House official says Pelosi is endangering nation's credit

White House official says Pelosi is endangering nation's credit
© Greg Nash

Acting White House budget director Russell Vought is accusing Speaker Nancy PelosiNancy PelosiHouse Democrat pushes for censuring Trump in closed-door meeting Trump: I don't have a racist bone in my body Ocasio-Cortez responds to fresh criticism from Trump MORE (D-Calif.) of risking a national default by insisting that a deal on spending caps be linked to legislation to raise the debt ceiling.

“The threat by Speaker Pelosi to oppose a debt limit increase until the administration agrees to Democrats’ $2 trillion in unaffordable spending increases is reckless and irresponsible,” Vought said in a statement.

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“With our nation already more than $22 trillion in debt, Congress should be working with us to reduce wasteful spending and decrease deficits. The administration has consistently urged Congress to protect the full faith and credit of the United States by acting to increase the debt limit as soon as possible,” he said.

The White House floated the idea in April of moving legislation to increase the debt limit separately from a deal to raise the spending caps. If new caps aren’t put in place for 2020, then caps set up by the 2011 Budget Control Act would take effect in January.

They would reduce spending significantly compared to 2019 and Republican and Democratic lawmakers want to avoid this consequence, which is also known as sequestration.

Treasury Secretary Steven MnuchinSteven Terner MnuchinDemocrat Sherrod Brown torches Facebook at hearing: 'They broke journalism, helped incite a genocide' Beware the digital tax trap The Hill's Morning Report - Presented by JUUL Labs - House to vote to condemn Trump tweet MORE said after a meeting with Senate Republican Leader Mitch McConnellAddison (Mitch) Mitchell McConnellThe Hill's Morning Report - Presented by JUUL Labs - House to vote to condemn Trump tweet GOP put on the back foot by Trump's race storm Overnight Health Care — Presented by PCMA —Biden unveils health care plan | Proposal pitches subsidies, public option | Biden vows if you like your health insurance, 'you can keep it' | Sanders protests planned Philadelphia hospital closure MORE (R-Ky.) and other Republicans on Wednesday that the White House is now open to pairing a debt-limit increase with a spending caps deal. 

“Our preference is if we reach a caps deal, the debt ceiling has to be included,” Mnuchin told reporters after the meeting.