“Financial Services Committee Chairman Patrick McHenry on Tuesday privately warned fellow House Republican leaders to be reasonable and realistic as they demand federal spending cuts in exchange for raising the nation’s debt ceiling,” Bloomberg reports.
“McHenry, who has emerged as a critical player in the House’s narrow GOP majority, warned Republicans of the ramifications of a catastrophic debt default, arguing that behaving recklessly could lead to the US losing its position as the world’s dominant reserve currency.”
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