McCarthy Firm in Commitment Against Raising Debt Ceiling

HYou can also use the Speaker Kevin McCarthy (R-CA) will not relent in his commitment to the cause. raising the debt ceiling The Treasury Department is ready to take extraordinary measures to prevent the country’s default on its debt this week, without any budget cuts

Combining a raise of federal borrowing McCarthy made deals with the conservative wing in return for their support in his bid to be his speaker. The Democrats are demanding a clean increase The two sides can reach an agreement by June in order for them to continue to pay their expenses.

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“We are six months away, approximately, and what I would like to do is I would like to sit down with all the leaders and especially the president had start having discussions,” McCarthy stated Tuesday that continuing was what McCarthy meant to tell reporters. “I don’t see why you would continue the past behavior. […] Who wants to put the nation through some type of threat at the last minute with the debt ceiling? Nobody wants to do that.”

His plan was to negotiate a balanced budget together with the Democrats in order to begin paying down the $31 trillion of debt. Both sides of the aisle oppose cutting any defense budget spending, so domestic spending is under threat.

“Let’s sit down and find a place where we can protect Medicare and Social Security for the future generations, let’s put our house in order in how we are going to spend — and let’s make the investments we need to make America stronger,” McCarthy spoke.

His plan to negotiate is opposite that of the Democrat controlled Senate and White House. There, the preferred path forward would be to increase the borrowing limit with no fuss.

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“There’s going to be no negotiation over it. This is something that must be done,” Karine Jean-Pierre, White House Press Secretary told reporters Friday. “We believe, when it comes to the debt limit, it has been done in a bipartisan way over the years and decades. And it should be done in a bipartisan way. And it should be done without conditions. That is important here.”

Janet Yellen, Treasury Secretary, warned that if the limit is not raised it would cause harm to the economy. Social Security, Medicare, military salaries, and Medicare are some of the programs that could potentially be affected.