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Republicans have made it clear that if they win control of the Congress, they will shut down the government, refuse to pay our bills, and it will be the first time in the history of America that we will default--unless I yield and cut social security and Medicare … They're threatening to default on the federal debt. There's nothing that would create more chaos, more inflation, more damage to the American economy than this, let me be clear: I will not cut social security. I will not cut Medicare.