Quantcast

McConnell Claims Republicans Won’t Back Debt Limit Boost (But They Always Do)

'This debt is Trump debt, it's COVID debt...'

(Headline USA) Senate Democrats accused Republicans Wednesday of a “shameless, cynical” ploy that would damage the economy and the government’s credit rating after the chamber’s GOP leader said his party would vote against raising the federal debt limit.

In the latest chapter of a broad budget battle likely to linger well into autumn, Democrats reacted after Senate Minority Leader Mitch McConnell, R-Ky., said he believes all Republicans will vote against renewing Washington’s ability to borrow money. The government, which has run huge budget deficits for years, needs to borrow cash constantly to pay its debts, but its legal authority to do that expires July 31.

To overcome a Senate GOP filibuster of legislation raising the debt limit, the chamber’s 50 Democrats would need support from 10 Republicans, which McConnell suggested will not be there.

On Tuesday, McConnell said, “I can’t imagine a single Republican in this environment that we’re in now, this free-for-all for taxes and spending, to vote to raise the debt limit.”

...article continued below
- Advertisement -

McConnell confirmed those remarks Wednesday to the Associated Press, a day after making them to Punchbowl News, a publication that covers Capitol Hill and politics.

An expiration of the government’s borrowing authority could lead to a federal default, which has never happened.

“The leader’s statements on debt ceiling are shameless, cynical and totally political,” said Senate Majority Leader Chuck Schumer, D-N.Y. “This debt is Trump debt, it’s COVID debt,” he said, a reference to a massive 2017 tax cut enacted under former President Donald Trump that boosted the economy, and federal spending that’s mushroomed since the COVID-19 pandemic.

It is not unusual for the political party out of power in the White House to threaten to oppose a debt ceiling increase as leverage to exact budget concessions.

...article continued below
- Advertisement -

This fight comes as the two parties are also at odds over President Joe Biden’s multitrillion-dollar proposals for bolstering federal domestic spending and raising taxes on the wealthy and corporations to pay for it.

Congress suspended the debt ceiling — the limit on federal borrowing — two years ago, but that suspension expires July 31.

The Treasury Department can free up cash for short periods using accounting maneuvers, but it is unclear when it would exhaust that option. Some have suggested the government could run out of money during August, when Congress is scheduled to be on recess. The nonpartisan Congressional Budget Office estimated Wednesday that the crunch is likely to come in October or November.

One option would be for Democrats to include the language in an enormous bill financing many government agencies next year that Congress is beginning to craft. A failure to enact that measure by Sept. 30, the end of the federal budget year, could produce a government shutdown.

Democrats could also include a debt limit provision in the $3.5 trillion bill they plan to write financing environment, health, education and family programs. Democrats plan to use a budget maneuver to shield that bill from a filibuster, but it may not be ready for months.

Adapted from reporting by Associated Press.

- Advertisement -

TRENDING NOW

Pro-Life & Pro-Abortion Groups See No Middle Ground in Supreme Court’s Next Ruling

(Headline USA) Both sides are telling the Supreme Court there's no middle ground in Wednesday's showdown over abortion. The justices can either reaffirm the right...

Anthony Fauci: Ted Cruz Criticized ‘Science’ by Calling for My Prosecution

(Headline USA) Dr. Anthony Fauci, the government's top infectious diseases expert, criticized Sen. Ted Cruz for saying that Fauci should be investigated for several...

WHO Warns Against Travel Bans on African Nations

(Headline USA) The World Health Organization on Sunday urged countries around the world not to impose flight bans on southern African nations due to...

China-Compromised WHO Admits It Skipped ‘Xi Variant’ to Avoid Offense

(Headline USA) The name of a newly identified variant of the coronavirus has had some social media users scratching their heads about the World...

No Mask, No Problem? Biden Caught Maskless While Shopping

(Headline USA) President Joe Biden sparked headlines again this weekend after appearing in public without a mask, despite his aggressive COVID-19 masking policies. Biden was...

Feds Catch Stowaway Hiding In Landing Gear On Flight From Guatemala To Florida

(Associated Press) Federal authorities have taken into custody a 26-year-old man who apparently stowed away in the landing gear compartment of an American Airlines...

Retired Police Officer Killed During San Francisco Crime Spree

(Associated Press) A security guard has died after he was shot while he protected a San Francisco Bay Area television news crew covering a...

ISIS Rape Survivor’s School Speech Cancelled Over Fears it Will Spark ‘Islamophobia’

(Headline USA) A Nobel-prize winning ISIS survivor has been censored by a Canadian school over fears that her story will "foster Islamophobia." The Telegraph reported...

Lauren Boebert Apologizes for Joking About Ilhan Omar Being a Suicide Bomber

(Headline USA) Democratic Rep. Ilhan Omar of Minnesota called Friday for House leaders to take "appropriate action" against Colorado Republican Rep. Lauren Boebert for...
- Advertisement -