“When you get down to defaulting on the debt, you have a very, very serious question: What will happen to interest rates, what will happen to our relationships around the world?” [U.S. Chamber of Commerce president Tom] Donohue said in an interview with Chuck Todd. “It could really hurt the economy.”
Donohue said he thought mounting debt and entitlements could also damage the economy long term. Then he added: “I think we have to let the folks up on the Hill use the assets they have while at the same time trying to tell them that using the debt is the least desirable of those.”
This is a key quote. The head of the Chamber, one of the most powerful GOP-aligned interest groups in the country, is essentially saying that using the debt ceiling as leverage to force spending cuts has to stop.
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