White House steps up pressure to raise debt limit

The White House stepped up pressure on Congress Friday, calling on lawmakers to extend the nation's debt limit, warning that any delay could plunge the economy into a recession.

In a new fact sheet given out, the White House warned "economic growth would falter, unemployment would rise, and the labor market could lose millions of jobs."

The White House has been trying to get Republicans to agree to raise the $28.5 trillion federal borrowing limit.

Raising the nation's debt limit is normally a routine bipartisan thing, but this year, Republicans - who lost control of the White House and don't hold a majority in the House or the Senate - are dragging their feet.

If the debt ceiling isn't raised by an October deadline, the Federal government won't be able to pay its bills, which could led to cuts in critical services funded through Washington.

Earlier this week, Senate Minority Leader Mitch McConnell, told Treasury Secretary Janet Yellen on a call that Democrats will have to raise the debt ceiling on their own.

White House economic advisor Brian Deese told MSNBC Friday that it would be "absolutely unspeakable, unthinkable that we would allow the federal government to default on the obligations it has already made."

The administration warned that if Republicans don't get on board - America could face another financial crisis.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting