“A financial crisis and recession that could echo the events of 2008 or worse.” That’s the dire warning the Treasury Department issued Thursday about the possibility the GOP forced government shutdown could tumble into a debt default by the United States.
The plan concocted by Senators Marco Rubio, Ted Cruz, and Mike Lee to either defund the Affordable Care Act or shut down the government appears to be on its last leg after it passed the GOP-led House of Representatives last week.
The plan originally hatched by Florida Senator Marco Rubio, Texas Senator Ted Cruz, and Utah Senator Mike Lee to either shutdown the government or default on the debt limit if the Affordable Care Act isn’t defunded is fracturing the Republican Party ahead of key fiscal deadlines.
As the annual August recess continues in Washington, the outcry from some of the most conservative members of the Republican caucus continue to call for either a government shutdown or a debt limit default to halt the implementation of the Affordable Care Act.
Senator Marco Rubio would prefer to let the federal government shutdown in late March than let a continuing resolution pass if the bill doesn’t completely defund the Affordable Care Act.