Defense Sec. Austin warns that defaulting on the nation’s debt would pose catastrophic consequences for the military: 'I would have no authority or ability to ensure that our service members, civilians, or contractors would be paid in full or on time.'
defaulting
"I would have no authority or ability to ensure that our service members, civilians, or contractors would be paid in full or on time," Austin said.Austin added that benefits provided to 2.4 million military retirees and 400,000 survivors would be at risk, federal contractors could have their payments delayed and it would risk undermining America’s reputation internationally as well as “the stature of the U.S. dollar.
Former defense secretaries issued a similar message to Congress on Wednesday in a letter to congressional leaders, arguing that “it would be tragic to allow partisanship to now deny those critical resources essential to protecting our national security.” “Congress can avoid this outcome by agreeing simply — as it has roughly 80 times before — to authorize the government to pay bills it has already incurred,” they wrote in the letter. “This decision by Congress would not authorize a single cent of new spending; it would merely serve as an agreement to pay debts for money we have already spent, including on national security programs.”
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