"The president will lay out the stakes for hardworking families across New York and the United States: default would threaten 8 million jobs, a recession and retirement plans for millions of Americans," the White House official said.
"The president will also make clear that he believes in fiscal responsibility," the official added. "His budget would cut the deficit by nearly $3 trillion over 10 years. And instead of cutting programs hardworking Americans rely on, he believes we must cut wasteful spending on big oil by $30 billion and big pharma by $200 billion, and make sure the wealthy and large corporations pay their fair share.
Rep. Mike Lawler, R-N.Y., who represents the congressional district that includes Valhalla, said he has accepted a White House invitation to appear alongside Biden on Wednesday. "America is not a deadbeat nation," the White House official said. "We pay our bills. Congress has a constitutional duty to prevent default."