Mr. President, if you thought the dangerous theatrics of the Trump years were behind us, I have some bad news. This week, Speaker McCarthy plans to gamble with the paychecks of millions of families, as well as the stability of our Nation's economy. Instead of accepting one of the most basic duties of government-- avoid default--Speaker McCarthy is choosing high stakes risk. He is threatening to default on America's debt for the first time in history unless Democrats agree to slash funding for working families, veterans, law enforcement, and small businesses across the country. Now it goes without saying: This proposal is going nowhere in the Senate. And Kevin McCarthy knows that. So the fact that he is still moving forward with it shows that he does not know the damage he could inflict on the American people. He is willing to hold our entire economy--and the fate of millions of Americans--hostage because, as long as he keeps the most radical fringes of his party happy, Kevin McCarthy has nothing to worry about. But for everyone else, a Federal debt default would be disastrous. It would wipe out trillions of dollars in household savings; it would lead to millions of Americans losing their jobs and businesses grinding to a halt; and it would crater our economy, likely throwing us into a recession. Now all this chaos and destruction could be avoided today, if we wanted.…
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