In a rare appearance at the White House news briefing Thursday, Shalanda Young, director of the Office of Management and Budget, said that U.S. competitors loved to see the partisan fighting over debt ceiling negotiations.
that, in the case of a U.S. default, it would be “almost a certainty that [China and Russia] would look to take advantage of the opportunity” to demonstrate “that we’re not capable of functioning as a democracy.”
The warnings come amid a months-long standoff between President Biden and Republicans, and days after Treasury Secretary Janet L. Yellenthat the United States could default on its debts “by early June, and potentially as early as June 1,” without congressional approval to raise the nation’s debt limit.
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