As recession fears weigh on midterms, Biden warns Republicans will 'crash the economy' if they win control

President Joe Biden warned Friday that Republicans will "crash the economy next year" if they win control of Congress, looking to blunt the edge that growing fears of a recession have given Republicans less than three weeks before the midterm elections.

Biden took aim at House Republican leaders who have suggested they might use the debt ceiling as "leverage" to achieve their goals on entitlements in a budget showdown under a Republican majority. The president singled out Social Security and Medicare. 

"If you're worried about the economy, you need to know this," Biden said. "The Republican leadership in Congress has made it clear. They will crash the economy next year by threatening the full faith and credit of the United States for the first time in our history, putting the United States in default, unless we yield to their demand to cut Social Security and Medicare."