It’s worth emphasizing that hitting the debt ceiling this week does not mean that default is just a few days away.
Rather, the Treasury Department will now begin a series of moves — described as taking “certain extraordinary measures“ — to prevent a crisis.
Before that deadline, lawmakers will have to agree to allow the government to pay its own bills.
She added that even threatening default has “caused real harms, including the only credit rating downgrade in the history of our nation in 2011.”.
“In exchange for not crashing the United States economy, you get nothing,” Schatz said in an interview with The Daily Beast.
Asked about GOP calls that Democrats join Republicans at the negotiating table, the Hawaiian senator added, “We have to tell them there is no table.”.
“I don’t know why President Biden says he’s not going to negotiate,” House Freedom Caucus Chairman Scott Perry recently told ABC News. »