Debt limit: Republican and Democrat say they'll have a 'failsafe' if Biden's ... trends now
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The leaders of the bipartisan House Problem Solvers Caucus said on Sunday that they're working on a 'failsafe option' for the U.S. debt limit, in case talks between House Speaker Kevin McCarthy and President Joe Biden fall through.
'I think it's irresponsible not to have the conversation, just like it's irresponsible to default on our responsibilities as a country and put the full faith and credit of the United States at risk,' New Jersey Democratic Rep. Josh Gottheimer told CNN's State of the Union on Sunday.
Co-head of the caucus, GOP Rep. Brian Fitzpatrick of Pennsylvania, said: 'We cannot allow our country to default under any circumstances.'
House Republicans have been in a stalemate with the White House and Senate Democrats amid urgent warnings from the Treasury that action needs to be taken to raise the debt ceiling.
Failure to do so could send the U.S. careening into default - plunging the global economy into a tailspin.
Reps. Brian Fitzpatrick (right) and Josh Gottheimer (left) are the bipartisan co-chairs of the House of Representatives' Problem Solvers Caucus
The House's GOP majority has made clear that it will not move to raise the debt limit unless it was offset with future government spending cuts.
And while they hope a solution can be reached after McCarthy left a meeting at the White
