President-elect Donald Trump criticized former House Speaker Kevin McCarthy (R-Calif.) for his earlier push to extend the debt ceiling until January 2025, calling it “the stupidest thing in years.” “It was a political decision,” he added.
in post President Trump said on Truth Social that there was “no reason” to extend the debt ceiling, adding: “We got nothing.” President Trump's post came after President Joe Biden signed the Fiscal Responsibility Act in June 2023. According to to new york times.
The paper pointed out that House Republicans, led by McCarthy at the time, were “demanding deep spending cuts among Biden's priorities in exchange for agreeing to raise the debt ceiling.”
House Republicans, led by Speaker Kevin McCarthy, had called for deep spending cuts in Biden's priorities in exchange for agreeing to raise the debt ceiling. The president was initially reluctant to negotiate, insisting that Republicans raise the debt ceiling unconditionally, as lawmakers of both parties have done in the past.
WATCH — HISTORIC: House Vote to Remove Kevin McCarthy as Speaker:
“The decision by a good man and a friend of mine, the former Speaker of the House, to extend the debt ceiling from this September under the Biden administration to June under the Trump administration will be remembered as one of the stupidest political decisions ever made.” Years in the making,” Trump wrote. “There was no reason to do that. Nothing was gained and neither were we. This is the main reason why we lost the chairmanship.”
Trump added that this is Biden's “problem,” not Republicans.
Trump added: “Now it's ours.” “I call it '1929' because the Democrats don't care what kind of situation our country is in. In fact, they prefer 'the Depression' as long as it hurts the Republican Party.” Probably. Democrats must be forced to vote on this dangerous issue now, under the Biden administration, not in June. They, not the Republicans, are to blame for this potential disaster! ”
As Breitbart News previously reported, under the Fiscal Responsibility Act, the debt ceiling was raised “through January 2025, while implementing spending caps and other provisions desired by Republicans.”
Treasury Secretary Janet Yellen announced in May 2023 that the government will be defunded by June 5, 2023, if the White House and Congress do not reach an agreement to “raise or suspend” the debt ceiling by that date. I warned you that this is a possibility.
