Will Congress fail to raise the national debt ceiling, causing the U.S. Treasury to default on its debt obligations? Congressman Fred Upton isn’t worried.
“We’re not going to get to the point where we default,” Upton said. “It’s just not going to happen. There will be a meeting of the minds, they’ll figure out what it needs to be. It’ll be a real number, and maybe there’s a deal that you’re not going to raise taxes to get there. So there will be a lot of discussions that will go through the weekend.”
The deadline for raising the debt ceiling is next month. Senate Republicans are insisting that Democrats go it alone when it comes to suspending the nation’s borrowing limit. Upton says no one expects a default to happen, and there could be a deal next week.
