House Speaker Kevin McCarthy pledged on Monday to pass legislation to raise the nation’s debt ceiling — but on condition of capping future federal spending at 1% — as he lashed out at President Joe Biden for refusing to engage in budget-cutting negotiations to prevent a debt crisis.
In a high-profile speech at the New York Stock Exchange, McCarthy, the Republican leader who is marking his 100th day as speaker, said the nation’s debt load is a “ticking time bomb” and Biden is “missing in action” as the deadline nears to raise the debt limit.
“Since the president continues to hide, House Republicans will take action,” McCarthy said.
His Wall Street address comes as the Washington is heading toward a potential fiscal crisis over the need to raise the nation’s debt limit, now at $31 trillion, and avert a federal default.
The Treasury Department has said it is taking “extraordinary measures” to continue paying its bills, but money will run short this summer.
McCarthy faces his own challenges.
With his slim majority he has been unable to rally his troops around a budget-cutting proposal that he could offer the White House as a starting point in negotiations.
Starting point is BIDEN and his DEMOCRATS don’t want to show then submit a budget with a ZERO increase. Democrats don’t show then they don’t want the increases in their giveaways. LET SOROS and the DEMON DEMOCRATS furnish their giveaways. They buy everything else they want from fixing elections and buying DA’s
I saw this coming. do realize we are being had by the swamp!!!trump tried to save us…but the democrats and China colluded and generated covid and election steal..and NOW another small slide towards the fiscal collaspe
Again paid off big time for the luciferian scum swamp rats
.again we lose
This all started with jfk’s murder. Clinton drove the final nail..when he cleaned the ssn equity and paid the debt. Gov then became all debt….then cia funded 911 paid off big and Bush the WARlock up to Obama the deceiving divider had this scam almost done..Hillary the LGBT Head witch was supposed to carry on the attack on our freedoms and security. 911, covid and Biden just happened??
Trump GUMMED it all up…hence the attempt to stop him..remember luciferians lie confuse deceive cheat and hate you..it’s why the evil cabal gave us biden. So of course the rino and swamp it’s business as usual. Full steam ahead to the mark of the beast. Distraction, LGBT LIES, confusion, DIVISION, and hate keeps us occupied
What do you thinks gonna happen when the crash happens and we become cash less?
WAKE UP!!!
Bombs are defused.
Bomb particles diffuse when bombs explode.