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March 23, 2023

Schweikert Responds to Joint Economic Committee Democrats’ False Report of a Default Crisis

WASHINGTON, D.C. — Today, Congressman David Schweikert (AZ-01) issued the following statement in response to Democrats on the Joint Economic Committee releasing a report which falsely claims that Republicans have created a default crisis:

“Over the last two years, American families have suffered from record-high inflation due to President Biden and Congressional Democrats’ reckless spending habits.
“As a result, we’ve seen the steepest interest rate hikes in decades which have significantly impacted American families seeking to buy a home, purchase a car, or pay off their credit cards. In their report, Democrats focused on the impact of rising interest rates on Americans but failed to take any responsibility for the rise in inflation and long-term interest rates that are a result of their wasteful spending.
“Defaulting on our debt is not an option. At the same time, we must demonstrate to financial markets that we take our fiscal responsibility seriously by restraining our out-of-control debt and deficits. If we continue to allow the national debt to spiral, the U.S. will be inflicted with skyrocketing borrowing costs. My Republican colleagues and I are committed to serving as a check on Democrats’ inflationary spending and helping relieve the strain on Americans’ pocketbooks.”

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