On Tuesday’s broadcast of Bloomberg’s “Balance of Power,” Sen. Jon Ossoff (D-GA) said that there is waste that is spread throughout the federal budget.
After viewing a clip of Sen. John Kennedy (R-LA) saying that there is waste in the budget that is “marbled throughout” rather than in one big chunk, Ossoff stated, “I’ve worked closely with Sen. Kennedy on a range of shared priorities and will continue to do so. And Sen. Kennedy is right that there is waste, as he put it, ‘marbled throughout’ the federal budget. And it’s the responsibility of Congress to exercise our oversight authorities — as I have in the last two years chairing the Permanent Subcommittee on Investigations — to investigate, expose, and root out waste, corruption, fraud, and abuse in the federal government. I think the bottom line here, David, is that it would be grossly irresponsible for the United States government to refuse to pay its bills. These are debts already owed. The impact on the U.S. credit rating, the impact on the interest rates that the U.S. pays for sovereign debt, and consequentially, the significantly higher cost of debt service would have dramatically adverse effects, not just for financial markets, but for the overall economy, for job creation, and for inflation.”
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