The nation’s over $32 trillion debt exposes a severe division in Washington, prompting Democrats and Republicans to blame each other.
“If you’re concerned about $32 trillion in debt, just wait until the Republicans breach the debt limit,” Rep. Ritchie Torres told Fox News Wednesday afternoon.
Since Treasury Secretary Janet Yellen warned that the government won’t be able to pay its debts by June 1 if Congress doesn’t raise the debt ceiling, tensions have grown.
“If we breach the debt limit as Republicans are threatening to do, it will actually raise borrowing costs, causing America to become more indebted, not less,” said New York Democrat Torres. “It’ll exacerbate Republicans’ stated goal.”
Rep. Nancy Mace stated the US would not default.
“That is a scare tactic by the left and the American people shouldn’t buy it,” the South Carolina Republican stated. “We can prioritize spending if government shutdowns.”
Mace that President Biden “come to the table and negotiate with Republicans” to balance the budget, referencing the Clinton administration.
“Biden needs to man up and come to the table and work with folks to rein in spending,” she added. “We can’t keep doing this.”
Worried about $32 trillion debt?
Ohio Sen. JD Vance praised House Republicans for approving a “commonsense piece of legislation to get the debt under control” that “put the country back on a sustainable fiscal pathway.”
Last month, the plan, which would freeze discretionary spending at 2022 levels and restrict expenditure rises at 1% a year for a decade, passed 217-215. It is unlikely to pass the Senate, where Majority Leader Chuck Schumer called it “dangerous.”
“I think it’s the right deal,” Republican Vance said. If Democrats don’t like it, that’s great, but they should provide alternatives instead of just moaning.
Rep. Robert Garcia prioritizes protecting “basic tenets of government” including health care, student loan coverage, and veterans’ benefits.
“Right now, I think the leadership is doing a good job of holding the line,” the California Democrat remarked. We won’t slash benefits. That’s crucial.”