House Oversight Committee demands spending cuts to avoid U.S. Debt default

WASHINGTON (Reuters), CHIEF JOHN COMPER, Chairman of the House Oversight Committee, said Sunday that he hoped that a U.S. default on its debt could be avoided. However, he urged Democrats to accept spending cuts proposed by his fellow Republicans.

“We hope that this will be avoided. We hope the Senate and House – Democrats as well as Republicans – will agree on spending cuts. This must stop. In an interview with CNN, Comer said that we cannot continue operating with these kinds of deficits.

(Reporting by Doina Chucu; Editing By Lisa Shumaker