Not raising debt ceiling could cause recession “or worse,” says Schumer

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COOPERSTOWN – Economic development officials from across the Hudson Valley and Catskills joined others from around the state at the annual State Economic Development Conference in Cooperstown on Wednesday.

Senate Majority Leader Charles Schumer made a surprise visit and talked about the debate in Washington over raising the debt limit. The Democratic lawmaker said the solution is a bipartisan one as he pointed to past Republican presidents.

“Ronald Reagan, George Bush, and Donald Trump said, of course, we have to pay our debt,” he said. “And it’s scary. We are going to work really hard, really hard, to get this done in a bipartisan way.”

If it is not accomplished, Schumer said it could lead to a recession or “worse.”




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