US debt default impacts military readiness and morale: top US military generals

WASHINGTON, May 25 (Reuters) – The U.S. military’s commander-in-chief said at a news conference on Thursday that a default would cause serious and tangible damage to U.S. national security and adversely affect military readiness, morale and capabilities. said it would.

Joint Conference Chairman Mark Milley said, “I have no doubt that defaulting and failing to meet the debt ceiling would have a very serious and detrimental effect on the readiness, morale and capabilities of the U.S. military.” said. chiefs of staff.

“I think it will definitely be very significant in terms of its absolutely clear and unambiguous impact on national security.”

President Joe Biden and House Speaker Kevin McCarthy were edging closer to a deal Thursday on raising the country’s $31.4 trillion debt ceiling, according to people familiar with the talks.

But some hardline House Republicans are opposed to any compromise, arguing that it should include significant spending cuts.

The U.S. Treasury Department has warned that it could run out of money to cover all spending as early as June 1, leading to an economically devastating default if Congress doesn’t reach a deal.

Economists believe a default would be economically devastating, shaking financial markets around the world, driving up borrowing costs and triggering a deep recession in the United States with soaring unemployment. says he will.

Reporting by Idrees Ali, Doina Chiacu and Phil Stewart Editing by Alistair Bell

Our standards: Thomson Reuters Trust Principles.

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