Sen. Raphael Warnock (D-Ga.) said lawmakers should not “play chickens” with the American economy amid the threat of a national debt default later this year.
“The last thing we should do is play with the American economy,” Warnock said on ABC’s This Week in an interview with Jonathan Karl. “We have endured the onslaught of a very long pandemic that has presented many challenges to American families.”
Warnock’s warning comes amid lawmakers squabbling over how to deal with a possible sovereign default as the US nears its $31.4 trillion borrowing limit. Democrats have been pushing for swift passage of a debt ceiling increase, while Republicans have said they will not approve any legislation unless there are spending cuts by Democrats and the White House. The Biden administration has announced that it will not negotiate with the Republicans on the debt ceiling.
But the reality of an American default could prove disastrous for the economy. Warnock highlighted this concern by warning that the shocks of a default would disproportionately hit those at the bottom of the economy.
“The people who are on the fringes, who are most vulnerable, are going to suffer the most,” Warnock said on ABC. “This is not a game. This is people’s lives.”
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Treasury Secretary Janet Yellen said last week the department would take “extraordinary action” to stave off a default.
Warnock also said Sunday he approved of the appointment of Robert Hur, the special counsel tasked with investigating President Biden’s classified documents.
“Let me say at the top that classified documents must be taken seriously. And they need to be handled with great care,” Warnock said. “And no one is above the law. So I’m glad the Justice Department is doing its job and we should continue that work.”
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