"What we have right now is Speaker McCarthy and MAGA House Republicans saying that they're going to push the default detonator and blow up our economy if they don't get their way," Van Hollen, D-Md., told ABC "This Week" co-anchor Martha Raddatz.The federal government risks not being able to pay all of its bills as soon as June unless its borrowing limit, currently $31.4 trillion, is raised by Congress.
But after that, he saw two backups. "Plan B" would be Democrats trying to move their own deal through the HouseWith a discharge petition, Democrats could force a vote on the House floor without McCarthy's backing. But Van Hollen noted they would need some conservatives to join them to pass an alternative plan.
In this March 22, 2023, file photo, Sen. Chris Van Hollen speaks during a senate appropriations subcommittee hearing at the Capitol in Washington, D.C.Earlier this month, Treasury Secretary Janet Yellen told ABC's George Stephanopoulos on "This Week" that using the 14th Amendment could inciteBiden said in Japan that "I think we have the authority" to use the 14th Amendment but suggested the likelihood that it would be challenged in court gave him pause.
"The 14th Amendment is not the preferred alternative. A lot of people predict that even if you go the route of the 14th Amendment, you go into a recession -- but if you default, we're talking about depression," he said.
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