White House economic adviser says U.S. will address debtcrisis

WASHINGTON, Sept. 17 Reuters - White House economic adviser Brian Deese said on Friday that he was confident the United States would address the nation's debt ceiling and urged Congress to address the issue without drama as an October deadline looms.

We're confident that this is going to be done. It's absolutely unthinkable, we would allow the National Economic Council to default on the obligations it has already made, the Federal Government director told MSNBC in an interview.

Treasury Secretary Janet Yellen warned lawmakers that the U.S. faces a federal financial crisis and a default on its payment obligations if it does not raise the $28.5 trillion government borrowing limit.

For months, Yellen has called Congress to act, saying cash and extraordinary measures should run out in October as extra funding is used to temporarily finance the U.S. government.

But Republicans, who lost control of the White House in the 2020 election and do not hold the majority in the Senate or the House of Representatives, balked and placed the potential crisis on Democrats' shoulders.

We have seen this done consistently in a bipartisan way and the best way to do this is without a lot of drama, without a lot of nationality hurting the economy and our country, which is what we're going to do, Deese said.

There is a lot of posturing on this issue, but we're confident at the end of the day we'll get this done.