NEC Director Brainard: Negotiators Instructed To Resist "Extreme Measures"

Director of the White House National Economic Council, Lael Brainard, has told a briefing on "preventing default," alongside Vice President Kamala Harris, that "the risk of default is the single biggest threat to continued economic progress."

• Livestream: LINK
• Brainard: "A default on our obligations would likely lead millions of Americans to lose their jobs, it would lead the stock market to fall sharply... it would mean car loans/mortgage loans would become much more expensive and the cost of borrowing for the US government would become much much more expensive."
• Brainard: "Conversations between the administration's team and the team of the Speaker of the House are now ongoing and our goal is to work towards a reasonable bipartisan budget agreement, which we do every year."
• "The administration's negotiating team is fighting against extreme attempts to reverse the progress we've made creating clean energy jobs, combatting climate change, and lowering costs for middle class families."
• "The administration's negotiators are instructed to resist extreme attempts to take health care away from Americans or otherwise push Americans into poverty."