On September 29, Congressman Chris Pappas (NH-01) issued the following statement after voting to preserve the full faith and credit of the United States government and prevent a catastrophic economic downturn:
"I'm outraged that Republicans in the House and Senate refuse to do their jobs and work cooperatively to ensure the country's bills are paid. Today they have voted to bring on an immediate recession that would wipe out 6 million jobs and $15 trillion in retirement savings and household wealth. Small businesses and families across the Granite State are just starting to rebuild following the COVID-19 pandemic, and it's despicable that my Republican colleagues are playing political games with their livelihoods and hard-earned savings."
Background:
According to analysis by Mark Zandi, chief economist at Moody's Analytics, the United States could fall into an immediate recession if Congress allows the United States government to default on its loans and obligations.
Zandi's analysis also found that the resulting crisis would cost the U.C. economy up to 6 million jobs and wipe out up to $15 trillion in household wealth.
Original source can be found here.
