White House using Crisis to Catastrophe rhetoric again, this time Debt Ceiling

The top White House economic adviser warned lawmakers Sunday that the United States faces a catastrophe if Congress does not raise the debt ceiling, as spend-averse Republicans indicated they’d be willing to support the increase so long as certain conditions are met.

The debt ceiling debate is one of the first major legislative clashes on tap as lawmakers return to Washington this coming week for the start of the 112th Congress. The $13.9 trillion national debt is creeping closer to its $14.3 trillion ceiling, and a vote to increase that limit is expected in the spring.

Though lawmakers will no doubt use the vote to extract promises over future spending cuts, White House Council of Economic Advisers Chairman Austan Goolsbee urged Congress not to “toy with” the issue.

“This is not a game,” Goolsbee said on ABC’s “This Week.” “If we hit the debt ceiling, that’s essentially defaulting on our obligations, which is totally unprecedented in American history.

“The impact on the economy would be catastrophic. I mean, that would be a worse financial economic crisis than anything we saw in 2008,” Goolsbee said. “I don’t see why anybody’s talking about playing chicken with the debt ceiling.”

via White House Warns Failure to Raise Debt Ceiling Would Mean Economic ‘Crisis’ – FoxNews.com.

About Albert N. Milliron 6987 Articles
Albert Milliron is the founder of Politisite. Milliron has been credentialed by most major news networks for Presidential debates and major Political Parties for political event coverage. Albert maintains relationships with the White House and State Department to provide direct reporting from the Administration’s Press team. Albert is the former Public Relations Chairman of the Columbia County Republican Party in Georgia. He is a former Delegate. Milliron is a veteran of the US Army Medical Department and worked for Department of Veterans Affairs, Department of Psychiatry.