Republicans’ debt plan could cause ‘economic catastrophe’ – White House

WASHINGTON, Jan 17 (Reuters) – Republicans’ plan to pay some US debts as they come due but not others is a “recipe for economic catastrophe” that threatens the global economy, the White House said on Tuesday. House Republicans are planning to move a “debt prioritization” measure by the end of March that would call on the US Treasury to continue making only some payments once it reaches the debt ceiling.”This is not a plan, it is a recipe for economic catastrophe,” White House press secretary Karine Jean-Pierre told reporters. Their brinksmanship “threatens the global economy,” she said, and would cut payments for border security, food safety and other necessary government activities. “This should not be a political football, and we should do it without conditions,” Jean-Pierre said Reporting by Steve Holland; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

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