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Title : U.S. Secretary Of Defense Austin Warns Failing To Raise Debt Ceiling Could Harm National Security
link : U.S. Secretary Of Defense Austin Warns Failing To Raise Debt Ceiling Could Harm National Security

U.S. Secretary Of Defense Austin Warns Failing To Raise Debt Ceiling Could Harm National Security

Secretary of Defense Lloyd J. Austin testifies before the House Armed Services Committee on the conclusion of military operations in Afghanistan at the Rayburn House Office building on Capitol Hill in Washington, DC, U.S. September 29, 2021. Olivier Douliery, Reuters 

Daily Mail: 'There's a meteor heading our way': Biden says markets will tank, jobs will go, savings will be lost and Pentagon warns there will be a NATIONAL SECURITY crisis if Congress doesn't raise the debt limit - and it's 'nothing to do with his spending plans' 

* President Joe Biden laid out what he said were the real world impacts of a debt default on Wednesday 

* Tanking markets, job losses, and lost retirement savings were part of the costs, he said 

* Earlier the Pentagon warned that it would undermine the 'economic strength on which our national strength rests' 

* It was part of a move to pressure Senate Minority Leader Mitch McConnell to cave in over the current debt ceiling stand-off 

* Biden invited bank leaders including JPMorgan Chase's Jamie Dimon, Citi's Jane Fraser and Bank of America's Brian Moynihan 

* Biden and Senate Democrats are trying to get around a Republican filibuster threat and pass the same bill that got through the House last week 

* They have until Oct. 18 to pass something, before the U.S. falls off a financial cliff 

The Biden administration stepped up its push to get Congress to raise the debt limit on Wednesday, as the Pentagon warned that default could trigger a national security crisis and the president said it risked tanking the market and wiping out retirement savings. 

'It's about paying for what we owe, and preventing catastrophic events,' President Joe Biden told some of the nation's top chief executives, likening the impact to a 'meteor heading our way.' 

He spoke soon after Secretary of Defense Lloyd Austin issued his own warning.  

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More News On U.S. Secretary Of Defense Austin Warning Failing To Raise Debt Ceiling Could Harm National Security  

Pentagon chief warns default would harm national security, endanger troop pay -- Politico 

Default would threaten national security, keep troops from getting paid, Pentagon chief says -- CNBC  

Pentagon Warns of National Security Fallout From Debt Ceiling Crisis -- US News and World Report  

Pentagon Warns Failing To Raise Debt Ceiling Could Harm National Security -- Forbes 

Pentagon chiefs say debt default could risk national security -- The Hill  

No money to pay troops if debt ceiling deal doesn’t happen, defense secretary warns -- Military Times  

Defense Sec. Austin warns debt ceiling lapse could mean no paychecks for troops -- NBC

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