old. the news continues. cnn newsroom with michael starts now. anderson, thank. you matt gates, he singlehandedly held up kevin mccarthy s election as speaker, you ll recall, well tonight he is threatening to do it again in a new battle on capitol hill. and, he is here. i m michael, live from new york city, on the day the president joe biden asked americans for another four years. the nation is at risk of a potential economic disaster. thanks to partisan and intra party politics in washington, the u.s. is scheduled to default on its debt, as early as june. something that has never happened before. , and if the nation default, that means massive job losses, almost usher as a recession. federal benefits like social security are at risk, interest rates, what do you pay out of your house, your car, your college loan, they all skyrocket. the stock market, it tumbles, dragging with it your 401 case. i know what you re thinking. you re thinking, michael, we ve seen the movie before.
republicans? did the deal that he cut to become speaker, limit his options? one of the debt plan holdouts is matt gaye s, yes, the same thorn in mccarthy s side who delayed his election as speaker. the gop congressman of florida, he joins me now. congressman, welcome. back so, when did republicans find religion on spending? , well i think that you have seen a little bit more than a dozen of us never vote for an increase in the debt limit, and so to do so, there has to be substantial downward pressure on spending. we re deeply concerned about a 32 trillion dollar debt. what that means in terms of the dollar, positions, the global reserve currency. and, the extent to which the government spending is driving the very inflation that we were elected to check. so we think joe biden should negotiated, that s what and i think that the american people understand that those negotiations are necessary and divided government. my parents always say that