Debt ceiling crisis: McCarthy says Biden endangers US economy

Debt ceiling crisis: McCarthy says Biden endangers US economy


speaker Kevin McCarthy Demands allegedly escalated on Thursday The President Joe Biden and Democrats resolve the debt ceiling crisis by accepting the plan passed by House Republicans.

“The President ignored this problem. He’s actually endangering the American economy by not doing anything,” he said told Bloomberg TV.

Also read: How to invest in startups

The House of Representatives On Wednesday almost passed a bill Raising the debt ceiling, which includes significant spending cuts over the next decade. However, the bill is not expected to pass the Senate and President Joe Biden would veto it, a Reuters report said.

“The only way you can come to an agreement is if the other side has any ideas. I created our plan. We have proven that we can pass it. Show me what’s yours! The Senate did nothing. So tell me where’s your compromise? We’re the only people who passed legislation raising the debt limit…” he said.

White House comments: White House press secretary Karine Jean Pierre said in a Thursday briefing that House Republicans are holding the economy hostage and threatening to default, crashing the economy, jeopardizing the retirement of hard-working Americans and causing millions of Americans to lose their jobs.

“As the President said yesterday, he is happy to meet with Speaker McCarthy, but not on whether or not the debt limit will be extended. This is non-negotiable and we have made this very clear over the last few months. We didn’t mince words here,” she told reporters.

“And what this law is going to do — it’s going to kill jobs and it’s all to pay for tax cuts for the super-rich and profitable corporations,” she added.

Continue reading: Tesla, Amazon, Snap, Intel, Cloudfare: Why these five stocks are catching investors’ attention today


Source story

More to explorer