Wiley Nickel said "June 1, that is when the Treasury estimates that we will no longer be able to fulfill our financial obligations if Congress has not acted. Defaulting would have catastrophic consequences on our economy. It would shake financial markets, send interest rates skyrocketing, risk millions of jobs, and create higher costs for working families. We can't allow the full faith and credit of the United States Government to be called into question by defaulting. I am encouraged by ongoing conversations and discussions that are moving us in the right direction, but we need to get this done. I am committed to being at the table and being ready to work in a bipartisan way to find short-term and long-term solutions to avert a crisis and get our fiscal house in order. ___________________

On the recordMay 23, 2023

June 1, that is when the Treasury estimates that we will no longer be able to fulfill our financial obligations if Congress has not acted. Defaulting would have catastrophic consequences on our economy. It would shake financial markets, send interest rates skyrocketing, risk millions of jobs, and create higher costs for working families. We can't allow the full faith and credit of the United States Government to be called into question by defaulting. I am encouraged by ongoing conversations and discussions that are moving us in the right direction, but we need to get this done. I am committed to being at the table and being ready to work in a bipartisan way to find short-term and long-term solutions to avert a crisis and get our fiscal house in order. ____________________

Said by

Wiley Nickel

Democratic · North Carolina

Source

govinfo.gov

Share on X Share on Facebook Email this quote