Chuck Schumer: “I want to begin today with a short update on the debt ceiling. Over the past few days, we have made good progress on…”

“I want to begin today with a short update on the debt ceiling. Over the past few days, we have made good progress on this issue, and I am optimistic that we will be able to prevent the awful prospect of the U.S. defaulting on its sovereign debt for the first time ever. Nobody wants to see the United States default on its debts. As Secretary Yellen has warned, a default could eviscerate everything we have done to recover from the COVID crisis. We don't want to see that and I don't believe we will see that and I continue to thank all of my colleagues for cooperating in good faith to preserve the full faith and credit of the United States.”