House Oversight Committee urges spending cuts to avoid U.S. debt default
"We hope that this is avoided. We hope that the Senate, House - Democrats and Republicans - will agree to spending cuts. Look, this has to stop. We cannot continue to operate with these types of deficits," Comer said in an interview with CNN.
This has raised concerns in Washington and on Wall Street about a bruising fight over the debt ceiling this year that could be at least as disruptive as the protracted battle of 2011, which prompted a brief downgrade of the U.S. credit rating and years of forced domestic and military spending cuts.
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