From Josh Harder <[email protected]>
Subject what happens if we default on our debt?
Date May 25, 2023 9:59 PM
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John,

I thought it would be helpful to give an update on where we're at with the debt ceiling and negotiations.

Secretary Janet Yellen has warned Congress that if we don’t raise the debt ceiling by June 1st, we could go into default on our debt. Let me be very clear: if this happens, our country will not be able to pay our bills and we will almost for sure dive into a recession. This is not a “fake” emergency as some Republicans are saying, this is real and our government has to pay its bills.

I sit on the House Appropriations Committee and I can promise you, I’ve been doing everything in my power to find a deal that Democrats and Republicans can agree on. Should we even be in this position? No. But here we are, and we need a solution asap. We can Monday morning quarterback this when we are past this terrifying cliff.

Time is running out quickly and this kind of brinksmanship has real life consequences. If we default on our debt, our seniors won’t be able to access their Social Security benefits and members of our military won’t be seeing their next paychecks.

I strongly believe we shouldn’t be playing politics with something so serious. Yet that’s the direction Kevin McCarthy has taken us.

The next few days are critical. I'm closely working with the White House and fellow appropriators to understand the status of negotiations, and I’m going to keep pushing for a deal until the last minute. It's a tense moment right now, but I very much hope that reasonable heads will prevail.

I’ll keep you updated,

- Josh


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Josh Harder for Congress
10 N California St
Stockton, CA 95202
United States
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