House Foreign Affairs Committee Chairman Michael McCaul says failing to raise the debt limit and defaulting would be a gift to one of America's most prominent foreign adversaries: China.
“Our adversaries look at this very closely. They look at when we’re divided too as a nation,” the Texas Republican said Sunday on ABC’s “This Week.” “I think they would love nothing more, particularly China, to see us default our full faith and credit under the Constitution.”
Mr. McCaul’s assessment comes as the White House and House Republicans have begun negotiations to raise the debt ceiling amid demands for budget cuts from the GOP.Army Gen. Mark Milley, chairman of the Joint Chiefs, testified to Congress last week that China “describes us in their open speeches as a declining power” and that defaulting “will only reinforce that thought and embolden China and increase risk to the United States.
“I agree with the chairman of the Joint Chiefs,” Mr. McCaul said, “that our adversaries are looking at this and we have to be very careful what we do. I’m optimistic we will get to a place where we can avoid that situation.”
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