WASHINGTON — The White House is in the midst of welcoming White House President Joe Biden welcomes Republican House Speaker Kevin McCarthy for an anticipated one-on-one session Wednesday The White House is making one point clear: There will be no talks regarding how to raise the debt limit.
Biden has made a clear stand against amusing spending cuts being pushed by House Republicans in the midst of their desperation to increase the amount that the U.S. can borrow.
Correct if I am wrong but I think your Party are only ppl refusing their losses & trying to cheat the American ppl of their vote. It is like you ppl talk about yourselves but say it Republicans & @POTUS doing the deeds.TOTALLY DERANGED #MAGA @TheFive @seanhannity @TuckerCarlson https://t.co/mAI3vxSRKI
— Just Saying (@abbyomartin) November 14, 2018
It is a reflection of a wider White House strategy. If Republicans expose the domestic programs they would like to eliminate and cut, it is likely that the White House is counting on that the plan being to be so unpopular that House Republicans will drop their demands to Congress to take action.
The latest news on the debt limit debate and the timetable
- “Extraordinary measures”: The U.S. reached the $31.8 billion ceiling on January. 19 for how much the federal government can be allowed to borrow, causing Treasury Secretary Janet Yellen to take “extraordinary measures” to pay the nation’s debts with the help of Congress.
- Indeterminate beyond the month of June While it’s unclear for how it will take before the Treasury Department can avoid defaulting on its debt however, it is expected to continue operating until the end of June, if not earlier.
- GOP is targeting the spending of taxpayers: McCarthy and House Republicans are seeking to cut down on the “wasteful expenses within Washington” to be part of an agreement for raising the ceiling on debt. However, they haven’t unveiled a comprehensive plan that identifies which programs they’d like to eliminate.
- A possible ‘calamity’ Biden has declared the possibility of an economic “calamity” in the event that Congress does not raise the debt ceiling in time and that the U.S. goes into default for the first time. Economic experts warn that it could plunge economic activity into severe recession.
Lessons learned from 2011 In the White House strategy White House strategy
Biden along with Democrats are affected by the standoff over the debt ceiling in 2011, when Vice President Biden during the Obama presidency called an all-party group of lawmakers. Republicans in the newly-reformed GOP-controlled House requested a reduction in deficit.
While a complete crisis that included default was avoided in the event that Obama accepted spend cuts of $2 trillion but there was still damage the U.S. experienced its first downgrade of its credit rating and the market fell.
Obama and Biden have learned from their mistakes and made a promise in the words of an official from the White House official: Never ever again to negotiate for a raise in the limit on debt.
In response, McCarthy is pointing to the same discussions 12 years ago in order to make the case that talks over spending cuts should be held again.
“He actually led the discussions in 2011, and he was adamant about the talks.” McCarthy said Sunday on CBS’ “Face the Nation” when asked if the president believes Biden will examine spending. “This is exactly what he’s performed previously.”