{"id":42156,"date":"2023-01-15T14:43:44","date_gmt":"2023-01-15T14:43:44","guid":{"rendered":"http:\/\/www.brandon.ddtest.info\/multisite-test\/gop-rep-us-defaulting-on-national-debt-a-real-threat\/"},"modified":"2023-01-15T14:43:44","modified_gmt":"2023-01-15T14:43:44","slug":"gop-rep-us-defaulting-on-national-debt-a-real-threat","status":"publish","type":"post","link":"http:\/\/www.brandon.ddtest.info\/multisite-test\/gop-rep-us-defaulting-on-national-debt-a-real-threat\/","title":{"rendered":"GOP rep: US defaulting on national debt a \u2018real threat\u2019"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Rep. Don Bacon (R-Neb.) said the possibility that the U.S. defaulting on its national debt is a \u201creal threat\u201d as lawmakers grapple with a fast-approaching breach of the debt limit.<\/p>\n<p>\u201cI think it is a real threat that both sides have to take serious,\u201d Bacon said on ABC\u2019s \u201cThis Week\u201d in an interview with Jonathan Karl.<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\">\n<\/aside>\n<p>The threat of a possible default comes after Treasury Secretary Janet Yellen said last week that the U.S. is projected to hit its borrowing limit \u2014 roughly $31.4 trillion \u2014 by Jan. 19. Yellen\u2019s pledge to take \u201cextraordinary measures\u201d to fend off a default sets the table for a showdown between the White House, Democrats in the Senate and a Republican-controlled House.<\/p>\n<p>While Democrats want to quickly pass debt limit legislation, House Republicans are adamant that they will not cooperate without major spending cuts.\u00a0<\/p>\n<p>\u201cThe Republicans were largely elected to get control of reckless spending,\u201d Bacon said. \u201cOn our side we have to realize\u2026 we can\u2019t get everything we want either. I want our side to negotiate with the Democrats in good faith.\u201d<\/p>\n<aside class=\"thehill-promo-link\">\n\t\t<a href=\"https:\/\/thehill.com\/homenews\/sunday-talk-shows\/3813997-comer-calls-biden-residence-crime-scene-over-document-search\/\" class=\"thehill-promo-link__link\" target=\"_blank\" rel=\"noopener\"><br \/>\n\t\tComer calls Biden residence \u2018crime scene\u2019 over document search\u00a0\t<\/a><br \/>\n\t\t<a href=\"https:\/\/thehill.com\/homenews\/administration\/3813966-watch-live-biden-speaks-at-ebenezer-baptist-church\/\" class=\"thehill-promo-link__link\" target=\"_blank\" rel=\"noopener\"><br \/>\n\t\tWatch live: Biden speaks at Ebenezer Baptist Church\t<\/a><br \/>\n\t<\/aside>\n<p>But at the risk of getting nowhere in negotiations with Democrats, House Republicans have been putting together a plan on what the Treasury should do if the U.S. does come up against its debt limit, <a href=\"https:\/\/news.yahoo.com\/house-republicans-prepare-emergency-plan-000250667.html\">according to the Washington Post.<\/a><\/p>\n<p>The plan would be to call on the Biden administration and the Treasury to only make the most critical federal payments, like making interest payments on the debt.\u00a0<\/p>\n<p>But Democrats have put pressure on Republicans to negotiate quickly to avoid a \u201cdisastrous\u201d default on the national debt.<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMibGh0dHBzOi8vdGhlaGlsbC5jb20vaG9tZW5ld3Mvc3VuZGF5LXRhbGstc2hvd3MvMzgxNDAwMi1nb3AtcmVwLXVzLWRlZmF1bHRpbmctb24tbmF0aW9uYWwtZGVidC1hLXJlYWwtdGhyZWF0L9IBcGh0dHBzOi8vdGhlaGlsbC5jb20vaG9tZW5ld3Mvc3VuZGF5LXRhbGstc2hvd3MvMzgxNDAwMi1nb3AtcmVwLXVzLWRlZmF1bHRpbmctb24tbmF0aW9uYWwtZGVidC1hLXJlYWwtdGhyZWF0L2FtcC8?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rep. Don Bacon (R-Neb.) said the possibility that the U.S. defaulting on its national debt is a \u201creal threat\u201d as lawmakers grapple with a fast-approaching breach of the debt limit. \u201cI think it is a real threat that both sides have to take serious,\u201d Bacon said on ABC\u2019s \u201cThis Week\u201d in an interview with Jonathan &hellip;<\/p>\n","protected":false},"author":1,"featured_media":42157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/42156"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=42156"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/42156\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/42157"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=42156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=42156"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=42156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}