US Vice President Kamala Harris and President Joe Biden's top economic adviser, Lael Brainard, said defaulting on US debt would send the economy into recession. At a conference for Democratic Party activists, the two urged activists to contact lawmakers and express opposition to a possible debt default in less than two weeks. "A debt default could trigger a recession," Harris said. Meanwhile, Brainard, who is also the director of the White House's National Economic Council, said that Biden's negotiating team had been instructed not to agree to any offers from Republicans to raise the debt ceiling in exchange for budget cuts. Republicans who have threatened to let the government default on debt are trying to persuade Democrats to accept tougher working terms for some federal aid programs in exchange for lifting the debt ceiling. Brainard said the aim of the Biden administration in its talks with House Speaker Kevin McCarthy's team was to work toward a plausible, bipartisan budget agreement. "The administration's negotiating team is fighting against extreme attempts to reverse the progress we've made: creating clean energy jobs, combating climate change and lowering costs for middle-class families, including for students and for insulin and other drugs," he said. These advances, continued Brainard, are creating clean energy jobs, fighting climate change, and lowering costs for middle-class families, including for students and for insulin and other medicines. Read our other insightful economic news: https://bit.ly/FPGDailyEco #FPG #Fortuneprimeglobal #commodity #equity #technicalanalysis #technology #news #investors #intraday #investing #fundamentalanalysis #stake #markets #liquidity #nasdaq #forex #portfolio #trading #capital #stocks #margins #facts #livetrading #economicnews #derivatives #globalnews #globaleconomy