McCarthy Takes Action to Address US Debt Crisis

Janet Yellen warned months ago that the United States would soon reach its debt ceiling, but it looks like House Speaker Kevin McCarthy (R-CA) is the only one taking action to address it. Despite Biden’s refusal to negotiate with House Republicans, McCarthy is moving forward with a plan to raise the debt ceiling while also rolling spending back to FY2022 levels. Biden’s hyperbolic press secretary has claimed that McCarthy’s plan will lead to children developing asthma and bones literally melting. Regardless, McCarthy is determined to hold a vote this week and pass the legislation, forcing Democrats to come to the negotiating table.

While Democrats like Senators Joe Manchin (D-WV) and Amy Klobuchar (D-MN) are frustrated with Biden’s inaction, the House Republican Conference has held together as a united front against the administration, bolstered by Stefanik, Emmer, and Scalise. If Republicans can pass their plan, Biden will be forced to make concessions and come to the table. However, Biden has insisted that he will not consider any bill that isn’t a clean increase on the debt limit, a stance that has left Republicans out in the cold.

If Republicans can hold together and pass the McCarthy debt plan, Biden will be the one to blink. But with a fractured House GOP, it could be a losing battle for McCarthy. Nonetheless, Republicans must pass an imperfect bill to put pressure on Democrats and increase pressure on Biden. Only then will he be forced to roll back his administration’s damaging policies and give something to Republicans on spending and the size of the federal bureaucracy. It is time for Democrats to work with Republicans to reign in spending and address the United States’ rapidly approaching debt ceiling.

Source: Townhall

Written by Staff Reports

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