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Transcript/Script(TITLE: US DEBT GLOBAL VIEWS (TV)
HEAD: How China, Russia Might Capitalize on US Debt Limit 'Chaos'
TEASER: Administration officials' warnings come amid impasse in securing congressional approval to raise limit government can borrow to pay its bills
PUBLISHED: 05/05/2023 at
BYLINE: Patsy Widakuswara
CONTRIBUTOR:
DATELINE: Washington
VIDEOGRAPHER:
PRODUCER:
SCRIPT EDITORS: Reifenrath, DJ (ok), Mia Bush
VIDEO SOURCES: AP, AFP, Reuters
PLATFORMS: WEB __ TV _X_ RADIO X_
TRT:
VID APPROVED BY:
TYPE:
EDITOR NOTES: Radio track included. Good through early next week, before meeting on May 9th. Waiting for expert SOT!))
((INTRO))
[[U.S. officials are warning that China and Russia would capitalize on the “chaos” that would ensue if the United States defaulted on its debt. The warnings come amid a monthslong standoff between President Joe Biden and Republicans in securing congressional approval to raise the nation’s debt limit. White House Bureau Chief Patsy Widakuswara has the story.]]
((Zoom in on McCarthy and Biden stills, AP 4431678))
((NARRATOR))
The impasse between House Republicans and President Joe Biden over the nation’s debt ceiling —
((Dollar bills printed, AFP V000_VID1214795_EN))
((NARRATOR))
the legal limit the U.S. government can borrow to pay its bills — is a gift to America’s adversaries, said
((Shalanda Young walking in, https://app.frame.io/projects/107d8a33-963a-48f0-9001-585725df7d34/48705534-a4dd-455f-afb7-137ed89854f6 ))
((NARRATOR))
Office of Management and Budget Director Shalanda Young.
((https://app.frame.io/projects/107d8a33-963a-48f0-9001-585725df7d34/48705534-a4dd-455f-afb7-137ed89854f6 ))
((Shalanda Young, Office of Management and Budget Director))
“They love this. They love to see chaos in the American system. They love to see that we can’t do our basic jobs. It’s no less than a test of what works in this world. Does democracy still work or does the Chinese way work?”
((Various Tokyo Stock Exchange and market data AFP V000_32C38TU))
((NARRATOR))
The U.S. defaulting on its debts would send shockwaves across global finance.
((Kremlin file, Tiananmen file))
((NARRATOR))
Adversaries, including Russia and China, could capitalize on it through a disinformation campaign spread over social media, government media and other platforms.
((Radio track: Said Todd Helmus, a senior behavioral scientist at RAND Corporation and a disinformation expert, via Zoom))
((https://app.frame.io/player/3258d370-f2e4-4faf-b966-644a5b7e7eb2 ))
((Todd Helmus, Disinformation Expert))
“Russia and China both tout the failures of American democracy in an attempt to argue that their system of government is better than ours. This will certainly play into that.// ((Flash)) Oftentimes, when they disseminate this content, they disseminate across multiple channels in at least a semi-coordinated way, and I would expect them to, to play up this fact on all of them.”
((Congress file AFP V001_MMV561399_TEN))
((NARRATOR))
Lifting the debt ceiling was once a routine vote. Congress has raised it
((GFX))
((NARRATOR))
78 times since 1960 — 49 times under Republican presidents and 29 under Democratic presidents.
((End the Shutdown protests, AFP V001_MMV561399_TEN))
((NARRATOR))
But in recent years, the vote has become increasingly partisan, leading to intense showdowns in 2011 and 2013.
((Radio track: Then-President Barack Obama))
((AFP V000_VID553967_EN))
((Barack Obama, Former President)) ((mandatory date in upper right: September 20, 2013))
"If Congress doesn't pass this debt ceiling in the next few weeks, the United States will default on its obligations. That's never happened in American history."
((Dollar bills printed, AFP V000_VID1214795_EN))
((NARRATOR))
House Republicans insist that federal spending must be cut before they will agree to raising the debt ceiling.
((Radio track: House Speaker Kevin McCarthy))
((AP 4431678))
((Kevin McCarthy, House Speaker))
“The House Republicans just passed the only bill in Washington that lifts the debt limit, ends wasteful Washington spending and puts America back on the right economic path.”
((Set up Biden, AP 4433033))
((NARRATOR))
President Joe Biden says he will not negotiate on this issue.
((AP 4433033))
((President Joe Biden))
“The two are totally unrelated. Whether you pay the debt or not doesn't have a damn thing to do with what your budget is.”
((McCarthy set up AP 4431678, Schumer set up AP 4432426))
((NARRATOR))
A meeting at the White House with congressional leaders of both parties is set for Tuesday.
((Patsy Widakuswara, VOA News, Washington. ))
NewsML Media TopicsArts, Culture, Entertainment and Media
NetworkVOA
Embargo DateMay 5, 2023 21:43 EDT
BylinePatsy Widakuswara,
Brand / Language ServiceVoice of America - English
