Cruz says Biden ‘gambling’ with US economy by refusing to negotiate on debt limit

Sen. Ted Cruz (R-TX) went on the record to call out President Joe Biden for refusing to negotiate on the debt ceiling.

The Texas Senator appeared on Sunday Morning Futures with Maria Bartiromo on Sunday to discuss how “the contrast could not be starker” between the House Republicans and the White House. The United States hit the previous debt ceiling of $31.4 trillion in January. Republican House members created and passed the Limit, Save, Grow Act to set the limit at $1.5 trillion or delay it until March 31, 2024, whichever comes first. The bill also reduces spending by setting the federal discretionary spending limit at $1.47 trillion for the coming fiscal year.

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“The Republicans in the House are responsible, and Joe Biden, what is he saying? He’s saying: ‘I will not talk, I will not negotiate, I will not give many on anything, any how any way,'” Cruz said. “And what is happening is Joe Biden is gambling. Joe Biden needs to stop playing roulette with the American economy and with the American credit limit.”

Cruz explained a solution is Biden could promise that the country will never default on its debt and instead pay the interest on it. Yet, every month the U.S. takes in more in tax revenue than it has in expenditure, according to Cruz.

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House Minority Leader Hakeem Jeffries (D-NY) defended Biden’s budget Friday during a press conference, calling the debt ceiling bill from House Republicans a “ransom note.”

When former President Donald Trump was in office, Democratic House members worked with the then president on three separate occasions to come to a consensus to raise the debt ceiling.