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 PelosiCummings to lie in state at the Capitol House Republicans 'demand the release of the rules' on impeachment Overnight Health Care — Presented by National Taxpayers Union —Dem wants more changes to Pelosi drug pricing bill | Ebola outbreak wanes, but funding lags | Johnson & Johnson recalls batch of baby powder after asbestos traces found 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 MnuchinTop economic adviser warned Trump on reelection chances ahead of China truce: report The Hill's Morning Report - Tempers boil over at the White House Schumer seeks focus on health care amid impeachment fever MORE said after a meeting with Senate Republican Leader Mitch McConnellAddison (Mitch) Mitchell McConnellMcConnell: Trump's troop pull back in Syria a 'grave strategic mistake' Overnight Defense — Presented by Boeing — Trump insists Turkey wants cease-fire | Fighting continues in Syrian town | Pentagon chief headed to Mideast | Mattis responds to criticism from Trump TSA head rules himself out for top DHS job   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.