LEADER JEFFRIES: "WE'RE GOING TO DO EVERYTHING POSSIBLE TO PREVENT A DEFAULT"
WASHINGTON, D.C. – Today, Democratic Leader Hakeem Jeffries joined The Situation Room with Wolf Blitzer where he emphasized that House Democrats remain committed to protecting our economy and everyday Americans from an extreme MAGA Republican-engineered default.
BLITZER: We're only a few days away from June 5th right now. That's the new date that the Treasury Secretary Janet Yellen says the U.S. will then run out of money to pay its debts, causing what economists say would be a totally catastrophic default. So where do these negotiations, from your perspective, stand right now?
JEFFRIES: Good evening, Wolf. Great to be with you. We certainly are only a few days away from this manufactured default crisis, which is very real right now. We shouldn't be in this situation because America should always pay our bills and do it in a manner consistent with what has been done under Democratic presidents and Republican presidents, without gamesmanship, partisanship or brinksmanship. We are in this place now– I'm thankful for President Biden and his team of designees who are working hard to avoid a default in the face of a group of individuals, some of whom clearly would take the position that they're blowing up the economy, crashing it and triggering a recession, apparently, they concluded, inures to their political benefit. And so we're hopeful that cooler heads will continue to prevail over the next day or so, we can arrive at a bipartisan agreement that makes sense, that's consistent with democratic values and we can get past this dangerous default crisis.
BLITZER: Can you guarantee, Leader, that the U.S. will not default on its debt obligations? That would be the first time in American history if, God forbid, that were to occur.
JEFFRIES: As House Democrats, I believe in partnership with President Biden and Senate Democrats, and Mitch McConnell has made this point as well, that we're going to do everything possible to prevent a default and make sure America pays its bills.
BLITZER: But as you know, there are many lawmakers, some Democrats and Republicans, who are already signaling they may oppose the deal negotiated between President Biden and Speaker McCarthy. Can you guarantee that House Democrats – and you're the Leader of the Democrats – will deliver the votes needed to pass any deal that's negotiated?
JEFFRIES: Well, one of the challenges that we confront is that it's unclear how many votes House Republicans can produce because they have had a variety of different individuals, increasingly with intensity over the last few days, who have said they're not planning on supporting anything unless it's consistent with the Default on America Act, which would painfully cut investments in veterans and Medicaid recipients and for public safety, for education, for nutrition assistance and things of that nature. And so we have to have some visibility into how many votes House Republicans are going to produce in terms of the ultimate resolution, and then we can speak with some specificity, Wolf, about how many votes are going to be needed on the Democratic side. What I can say is that we're committed to making sure that the United States does not default. We're committed to a bipartisan agreement. We have full faith in President Biden's ability to arrive at a resolution that is consistent with our values and prevents the economy from crashing, which is clearly what some folks on the other side of the aisle, some extreme MAGA Republicans, would like to see happen.
BLITZER: Speaker McCarthy says he's staying in Washington over this Memorial Day holiday weekend to continue negotiations. But, as you know, President Biden is departing for Camp David. Given the huge stakes and the damage a default would cause to the U.S. economy, shouldn't the president remain at the White House until these negotiations are completed and they are successful?
JEFFRIES: I think the president of the United States is actively involved in the discussions that are taking place and will be available to meet in person, over the phone, to be in communication with Speaker McCarthy, or whoever he needs to communicate with to prevent the country from defaulting, to make sure America pays our bills and to continue to build an economy that works for everyday Americans. I have full confidence in President Joe Biden.
BLITZER: One of the sticking points in the negotiations are what's called work requirements for various social safety net programs, including, for example, food stamps. I want to get your reaction to what Congressman Garrett Graves, one of the chief Republican negotiators, told CNN about that, earlier today. Listen to this.
GRAVES [video]: Democrats right now are willing to default on the debt so they can get so they can continue making welfare payments for people that are refusing to work. And I'm talking about people that are without dependents, people that are able-bodied between 18 and 55. And it's crazy to me that we're even having this debate.
RAJU [video]: Are you willing to drop that? Work requirements in a-?
GRAVES [video]: Hell, no. Hell, no. Not a chance.
BLITZER: So how do you respond to that, Leader? Will you accept a deal that strengthens work requirements?
JEFFRIES: That's exactly the type of reckless Republican rhetoric that is driving our country toward a default for the first time in American history and leads many people to rationally conclude that what the extreme MAGA Republicans really want to do is crash the economy, trigger a recession, because they believe, as many of them have said, that it will be in their political benefit in 2024. These so-called work requirements are not a serious public policy proposal, because work requirements already exist under federal law and that has been the case going all the way back to 1996. To the extent that there are anything in the law that Republicans would like to discuss, in terms of additions to the changes that have already been put into the law, related to work requirements going all the way back to 1996, then the appropriate place for that to be discussed is the Farm Bill, not as part of a hostage-taking situation where the full faith and credit of the United States of America and potentially crashing the economy could result, in the failure to arrive at a resolution.
BLITZER: So, bottom line, Leader, can you get a bill, given all the procedural problems in the House and then the Senate, can you get a formal bill to President Biden's desk so he can sign it into law before June 5th?
JEFFRIES: Yes, I believe that we can. And I know that that is the effort that President Biden and the Biden administration officials who are working day and night, 24 hours a day almost to bring about a resolution of this matter are working toward. We cannot default. It will hurt millions and millions of everyday Americans. And we have a responsibility in terms of our country, our Constitution, our credibility to make sure that America pays our bills and pays our bills on time.
BLITZER: As you know, some of your Democratic colleagues, Democratic members, they've told CNN publicly that they're concerned President Biden and Democrats are about to give too much away. Do you share their concerns?
JEFFRIES: Well, I share the concerns that the extreme MAGA Republicans are trying, intentionally, to bring about public policy changes in the law that they know they cannot accomplish through the normal legislative process. That is the reason why we are in this situation. They are threatening to default because they know that President Biden and others in Washington, D.C., Senate Democrats, House Democrats are inherently responsible individuals, and we understand the consequences of a dangerous default. But at the same time, I am confident that President Biden will continue to hold the line and not allow painful cuts to be undertaken that are going to hurt the health, the safety or the economic well-being of the American people. And that will be consistent with how we feel as House Democrats this situation should be resolved.
BLITZER: The House Democratic Leader Hakeem Jeffries. Leader Jeffries, thank you so much for joining us. Good luck to you. Good luck to everyone in Congress and the executive branch. As you know, as all of our viewers now know, the stakes for the U.S. economy and the American people are enormous indeed, for the world right now. So we're watching this very, very closely. Appreciate it very much.
JEFFRIES: Thanks so much, Wolf.
Full interview can be watched here.