{"id":1930942,"date":"2023-05-15T01:10:53","date_gmt":"2023-05-15T05:10:53","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mccaul-on-debt-ceiling-our-enemies-would-love-nothing-more-particularly-china-to-see-us-default\/"},"modified":"2023-05-15T01:12:22","modified_gmt":"2023-05-15T05:12:22","slug":"mccaul-on-debt-ceiling-our-enemies-would-love-nothing-more-particularly-china-to-see-us-default","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/mccaul-on-debt-ceiling-our-enemies-would-love-nothing-more-particularly-china-to-see-us-default\/","title":{"rendered":"McCaul warns against defaulting on debt ceiling, citing China as a potential enemy."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmccaul-on-debt-ceiling-our-enemies-would-love-nothing-more-particularly-china-to-see-us-default%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1930942&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Rep. Michael McCaul Warns of Catastrophic Consequences if U.S. Defaults on Debt<\/h2>\n<p>During an interview on ABC News\u2019 \u201cThis Week,\u201d Rep. Michael McCaul (R-TX), chairman of the Foreign Affairs Committee, issued a warning that America\u2019s enemies would love to see the U.S. default on its debt. This comes after former President Donald Trump endorsed the idea of defaulting on the debt if the White House does not agree to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/speaker-pelosis-new-house-rules-package-silences-the-voice-of-republican-minority\/\" title=\"Speaker Pelosi\u2019s new House rules package silences the voice of Republican minority\">spending cuts<\/a>.<\/p>\n<p>\u201cWell, this is always a game we play, every Congress, you know, in daring each other to jump off the cliff,\u201d McCaul said. \u201cIt\u2019s a dangerous game. I think defaulting on our <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/treasury-secretary-yellen-pleads-with-congress-to-raise-federal-debt-limit-still-supports-bidens-6-trillion-budget\/\" title=\"Treasury Secretary Yellen Pleads With Congress To Raise Federal Debt Limit, Still Supports Biden\u2019s  Trillion Budget\">full faith<\/a> and credit, any financial person would tell you, that\u2019s very catastrophic.\u201d<\/p>\n<h3>Adversaries are Watching<\/h3>\n<p>Host Jonathan Karl played a clip from General Mark Milley, chairman of the Joint Chiefs of Staff, who recently said, \u201cChina, right now, describes us, in their open speeches, et cetera, as a declining power. Defaulting on the debt will only reinforce that thought and embolden China and increase risk to the United States.\u201d<\/p>\n<p>When asked if he was worried about the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-pulls-65-pending-trump-executive-orders\/\" title=\"Biden Pulls 65 Pending Trump Executive Orders\">national security implications<\/a> of defaulting, McCaul said, \u201cSure, right, our adversaries look at this very closely.\u201d<\/p>\n<p>\u201cThey look at when we\u2019re divided, too, as a nation,\u201d he said. \u201cI think they would love nothing more, particularly China, to see us default, you know, on our full faith and credit under the Constitution. I took an oath to the Constitution. I think defaulting is not the right path to go down.\u201d<\/p>\n<h3>Disastrous Consequences<\/h3>\n<p>McCaul emphasized that it would be \u201cdisastrous\u201d for the U.S. to default on its debt. \u201cAnd I think any financial investor will tell you that. I think any economist will tell you that,\u201d he said. \u201cAnd I agree with the Chairman of the Joint Chiefs that our adversaries are looking at this, and we have to be very careful what we do. I\u2019m optimistic we will get to a place where we can avoid that situation.\u201d<\/p>\n<h3>Watch the Interview<\/h3>\n<p>Watch the full interview with Rep. Michael McCaul on ABC News\u2019 \u201cThis Week\u201d below:<\/p>\n<div>\n  <iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/VIDEO_ID_HERE\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Rep. Michael McCaul (R-TX), chairman of the Foreign Affairs Committee, warned during an interview on Sunday that America\u2019s enemies would love to see the U.S. default on its debt. McCaul made the remarks on ABC News\u2019 \u201cThis Week\u201d when asked about comments from former President Donald Trump, who endorsed the U.S. defaulting on its debt<\/p>\n","protected":false},"author":134,"featured_media":1930943,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[10142,4501,6145,5487,18797,7278,13724,4238,3633],"class_list":["post-1930942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-ceiling","tag-china","tag-citing","tag-debt","tag-defaulting","tag-enemy","tag-mccaul","tag-potential","tag-warns"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1930942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/134"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1930942"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1930942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1930943"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1930942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1930942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1930942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}