WASHINGTON, DC — Today, House Ways and Means Committee Chairman Paul Ryan (R-WI) delivered the following opening statement during a markup of H.R. 692, the Default Prevention Act, and H.R. 3442, the Debt Management and Fiscal Responsibility Act. "Any talk about the national debt sounds complicated, but the point is ...

If the United States government defaults on a debt payment, it would do serious harm to the U.S. economy—and, worst case scenario, could possibly put us back in a recession. That’s why on Thursday, the House Ways and Means Committee is marking up H.R. 692, the Default Prevention Act, a bill that will take away the threat ...