Debt ceiling crisis: Mitch McConnell rules out help for Joe Biden

Debt ceiling crisis: Mitch McConnell rules out help for Joe Biden

Facebook
Twitter
LinkedIn

Before the President Joe Bidens Meet with speaker Kevin McCarthy on Tuesday, Senate Republican leader Mitch McConnell He reportedly warned he would not bail out the president on the debt ceiling issue by breaking a partisan impasse.

What happened: McConnell said in an interview Monday that he privately told Biden it was up to him and McCarthy to find a solution. after to a Bloomberg report. However, McConnell expressed confidence that the US would avert a default.

Also read: The best penny stocks

“They assume there is a little secret plan here,” said the Republican leader, effectively reaching into his jacket pocket. “The White House and the Speaker’s teams need to sit down and sort it out now,” he added, according to the report.

Standard option: McConnell insisted supports McCarthy during Talks with Biden and Democratic leaders. “There’s no deal that could pass the Senate by 60 votes that could pass the House of Representatives, so why are we spending so much time talking about it?” he said.

However, the Republican leader acknowledged that political lines, particularly in the House of Representatives, have hardened. “We’re in a situation now in the House of Representatives where there’s a lot more reluctance to enter into a deal than we were in 2011,” he said, according to the report.

“I think the most important thing is to say that there will be no defaultwill never happen, won’t happen this time,” McConnell said.

Meanwhile Minister of Finance Janet Yellen Reportedly warned on Monday that the US could face financial chaos if Congress does so not raise the debt ceiling before June 1st.

Continue reading: Tesla, Palantir, Lucid, PayPal, Fisker: Why These 5 Stocks Are Capturing Investors’ Attention Today



Source story

More to explorer