Even approaching a default could cause an increase in borrowing costs and other financial stress, while an actual default would spark a financial crisis and global downturn of unknown but substantial severity.
DeLauro warns about the severe consequences of a potential default.
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Circumventing Congress to divert money intended to help Americans who are exposed to HIV, influenza, tuberculosis, and other deadly diseases—and directing those funds to the Department of Defense—is beyond the pale.
This bill is a clear improvement over the House Republican continuing resolution.
These funds were provided for lifesaving medical research, not as extra money for the Department of Defense.
Not only is freezing the money in this proposal illegal, but the administration has also clearly been unlawfully impounding funds all year just to get to this point.
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