October 24, 2021

Global News Archive

News archives from around the world.

Trump: GOP would be ‘foolish’ not to use debt ceiling in negotiations – The Hill

2 min read

Former President TrumpDonald TrumpUN meeting with US, France canceled over scheduling issue Trump sues NYT, Mary Trump over story on tax history McConnell, Shelby offer government funding bill without debt ceiling MORE leaned on congressional Republicans to use the debt ceiling in negotiations with Democrats over a bill to raise the borrowing limit and keep the government funded. 

The statement from Trump, which called the debt ceiling the GOP’s “only powerful tool,” is the latest instance of Trump exerting his influence on Republicans in Washington while out of office. 

“The only powerful tool that Republicans have to negotiate with is the Debt Ceiling, and they would be both foolish and unpatriotic not to use it now,” he said, referencing a Democratic bill that ties together government funding and increasing the debt ceiling.

ADVERTISEMENT

“The way I look at it, what the Democrats are proposing, on so many different levels, will destroy our Country. Therefore, Republicans have no choice but to do what they have to do, and the Democrats will have no choice but to concede all of the horror they are trying to inflict upon the future of the United States.” 

The statement comes as Republicans in Congress, led by Senate Minority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellMcConnell, Shelby offer government funding bill without debt ceiling Franken targets senators from both parties in new comedy tour Woodward: Milley was ‘setting in motion sensible precautions’ with calls to China MORE (R-Ky.) dig in against the Democratic bill, saying Democrats should pass a debt ceiling increase in their $3.5 trillion budget reconciliation bill that can avoid a filibuster. 

Democrats, however, note that past debt ceiling votes have been bipartisan and that they helped raise it three times under Trump without any provisions attached meant to reduce the national debt. This debt ceiling increase would also be used to cover debt accumulated during the previous administration. 

The current Democratic bill, which passed Tuesday in the House, would need to net 60 votes in the Senate, meaning Republicans would have to vote for the legislation in the 50-50 chamber.

The high-stakes back and forth has increased the chances of a government shutdown and a default on the nation’s debts, both of which could trigger significant economic downturns.

The debt ceiling kicked back in on Aug. 1 after a suspension included in a 2019 budget deal ran out. The Treasury Department has been using “extraordinary measures” to allow the U.S. to pay its debts since then, but they will be unable to do so starting at some point in October, Treasury Secretary Janet YellenJanet Louise YellenMcConnell, Shelby offer government funding bill without debt ceiling House passes bill to prevent shutdown and suspend debt limit Hillicon Valley — Presented by Xerox — FBI director pressed on agency reportedly withholding Kaseya decryption key MORE warned earlier this month.

Government funding also runs out at the end of September.

Source Link

Leave a Reply

Copyright ©2016-2021 Global News Archive. All rights reserved.