NAW: US Debt Default Would Have Devastating Impact on Wholesale Distribution Industry
WASHINGTON — The National Association of Wholesaler-Distributors (NAW), which is the voice of the 8.1 trillion-dollar wholesale distribution industry and employs more than 6 million U.S. workers, issued the following statement as the United States hit its debt ceiling.
“The United States government has nearly exhausted its borrowing capability and is now at risk of running out of cash and defaulting on its debts, putting our nation at tremendous risk for economic devastation and hardship,” said Eric Hoplin, CEO, NAW. “Washington has once again shown that out of control government spending will directly have a negative impact on American households and businesses during an already difficult economic time. Political leaders must come together and discuss real solutions to this problem and find ways to correct the behavior that has led us to this point.”