Dem Congressman: GOP Committing "Extortion" In Deficit Talks
Rep. Chris Van Hollen, Democrat of Maryland, accuses his colleagues on the other side of the aisle of using "a form of extortion" in the deficit negotiations. Transcript below:
Van Hollen: "We never said we will hold the United States full faith and credit hostage in the discussions. The president said that's a priority. We need to move forward. If you don't lift the debt ceiling, every economists out there said the economy will tank.
"And what is really appalling is to see our Republican colleagues essentially providing a form of extortion, if you don't agree to deficit reduction the way we want it, we're going to put all these jobs at risk because we're going to allow the United States to default on its debt. That's irresponsible."
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