Trump urges GOP to risk catastrophic debt default over spending cuts.

Former US President Donald Trump urged Republican lawmakers to let the United States default on its debt if Democrats don't agree to spending cuts. Trump's remarks came weeks before the US is projected to run out of cash to pay its bills unless Congress addresses the debt limit. A default would trigger chaos in markets and result in millions of job losses, according to analysts and economists. President Joe Biden has said he won't negotiate over raising the debt limit, although he said he is open to discussing ways to reduce spending in a separate context.