Virginia politicians weigh in on the possibility of raising the debt ceiling
CHARLOTTESVILLE, Va. (WVIR) - The U.S. is predicted to default on part of its debt on June 1 if Congress does not take action.
Senator Tim Kaine (D) is pushing for the debt ceiling to be raised, while Representative Bob Good (R) wants to see major spending cuts.
“There is more than enough money coming into the treasury to pay social security and Medicare, to pay the nation’s interest on our debt, to pay the nation’s veterans benefits and our military. It would just force us to cut discretionary spending, which we need to do anyway,” Good said.
“We should adjust the debt ceiling to the level necessary to cover the actions that we’ve taken, and Democrats never flirt with the debt ceiling because we don’t want to flirt with defaults. We think that the U.S. is the strongest economy in the world, and no one should ever question the full faith and credit, Kaine said.
Kaine added that Democrats are very open to spending cuts, and not just open to default.
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