'House Republicans' approach is dangerous and destabilizing,' warned SenSchumer, introducing a JECDems report about the GOP default crisis. 'Republicans are gambling with Americans’ savings, benefits, and lives, all to play a political game.'
"This report shows that a Republican default crisis means real dollars coming out of American families' wallets and savings decimated."
"House Republicans' approach is dangerous and destabilizing," he added."Even the threat of a breach will raise costs on everything from car loans to mortgages. Republicans are gambling with Americans' savings, benefits, and lives, all to play a political game.
Families with credit card debt could see their monthly payments rise, making it harder for them to become debt-free. "This would affect everyone who borrows money, including the United States government, which would have to pay more in its borrowing costs," he explained. "In other words, Republican hostage-taking on the debt limit would actually increase the deficit."
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