The White House refuses to negotiate with Republicans on raising the debt ceiling. The liberals believe it will be more beneficial for the country if they won’t help our patriots.
In reality, the left’s decision will only ruin our economy.
White House Refuses to Negotiate on the Debt Ceiling
Senate Minority Leader Mitch McConnell (R-Ky.) and Senate Majority Leader Charles Schumer (D-N.Y.) eventually brokered a deal. This is where enough Republicans joined Democrats to approve a one-time exemption to the filibuster… on raising the debt ceiling.
Moreover, Biden thinks he has higher political ground by insisting that GOP raises the limit… without conditions or changes to popular programs like:
- Social Security & Medicare
- Treasury Department
Biden called the prospect of the federal government defaulting on its debt “mind-boggling.” However, he pushed back against Republican lawmakers seeking to leverage negotiations over raising the debt ceiling… in exchange for spending cuts.
“The very notion that we would default on the safest… most respected debt in the world is mind-boggling,” Biden said. “I’m not going to get into the reckless threats that take the economy hostage. [It would only] force an agenda that will only limit American workers. [This would] weaken us internationally. I won’t let that happen.”
Biden stated that he would not let anyone use the full faith and credit of the United States as a bargaining chip… noting that 25% of the current national debt total was from the Trump administration.
He also mocked House Republicans for proposing a 30% national sales tax. Moreover, Biden criticized their bill restricting releases from Strategic Petroleum Reserve.
The demo-rat also touted his “accomplishments” such as:
- Passing bipartisan infrastructure law
- Boosting investments in semiconductor chip manufacturing
- Inflation Reduction Act
Biden also announced the formation of an ‘Invest in America’ Cabinet to ensure the implementation of his economic agenda… with job creation maximization being its goal.
GOP Senators Insist on Negotiation with Biden on Debt Ceiling
Republican senators Rand Paul and Ted Cruz held a press conference this January. It aims to urge Biden to negotiate with them over the debt ceiling… which is rapidly approaching its deadline.
“President Biden needs to know absolutely he will negotiate. It’s better to start now,” Sen. Rand Paul, R-Ky., told reporters. He’s pushing back the Biden administration’s stance that the talks surrounding the debt ceiling are “not a negotiation.”
They argued that budget reform must be included for Republicans in Congress to vote for raising the debt ceiling. It has historically been a practical lever point used by both parties.
The US’s national debt stands at $31.4 trillion. At the same time, their annual budget is currently operating at $6.3 trillion. It nearly doubled what it was before the pandemic began.
Treasury Secretary Janet Yellen warned of “irreparable harm” if they don’t raise the limit soon… due to inflation plaguing America’s economy and citizens’ livelihoods.
WH Press Secretary Karine Jean-Pierre stated that there would not be any negotiation surrounding this issue. However, Cruz clarified his stance by saying they would do what they could to raise the limit.
