Senator Coons calling debt ceiling bill “the only way forward to avoid a disastrous default”

Money2DELMARVA – Senator Chris Coons said the following about the Fiscal Responsibility Act and the agreement between President Biden and Speaker McCarthy to avoid default:

“The budget agreement reached by President Biden and Speaker McCarthy is the only way forward to avoid a disastrous default in a week that would spark a recession, destroy Delawareans’ retirement accounts, and cost our state countless jobs. I have faith in President Biden and his negotiating team, and I believe that this is the best deal that could be reached, given the damaging demands of House Republicans. It protects critical accomplishments of the Biden Presidency and key programs on which Delawareans rely.

“To my colleagues who have serious misgivings about this deal, I say this is far better than defaulting. We must come together to pass this deal and avert a self-destructive default. After that, let’s work together to end the risk of these self-inflicted debt ceiling crises.”

Categories: Check It Out, Delaware, Local News, Local Politics, Money, National Politics, Top Stories