8/22/2023 0 Comments Budget reconciliation 2022![]() House Republicans, cheered on by Trump, have pushed for using the debt limit as leverage to secure discretionary spending cuts or entitlement reforms. “Congress must once again responsibly address the debt ceiling before its expiration.”įailure to boost the $31.4 trillion borrowing cap this year would set up a confrontation sometime next spring or early summer, pitting a Democratic White House and Senate against a likely GOP majority in the House. “The debt ceiling should never be a matter of political brinksmanship,” the spokesperson said. “And there is little question as to who will get blamed for this.”Ī White House spokesperson noted that congressional Republicans voted three times to lift the debt ceiling under former President Donald Trump. “Although there is grave risk to the economy, the gun is in Republicans’ hands,” said one Biden adviser, summing up the administration’s view of the political stakes on the debt limit. ![]() Instead, officials now predict Republicans will get blamed if a bitter fight on the issue harms already choppy markets and further damages an economy that many economists see as close to a recession. That’s left White House officials to all but abandon efforts for a lame-duck move they once hoped might head off a potentially disastrous showdown with the House GOP majority next year. ![]() “I don’t think the debt limit issue is until sometime next year,” Senate Minority Leader Mitch McConnell said Tuesday in response to a question about whether he would address it in the lame duck. ![]()
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