Chamber President Donohue Says Default Would Be ‘Mistake’
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Defaulting on U.S. debt would be a “mistake” and lawmakers shouldn’t use the borrowing limit as leverage to force needed government spending cuts, said Thomas J. Donohue, president of the U.S. Chamber of Commerce.
“It would be a mistake to default on the debt” because doing so would lead to “so many unforeseen circumstances that that would be a bad thing to do,” Donohue said in an interview with Bloomberg Television’s Peter Cook for “Capitol Gains,” which airs Jan. 13.