(RepublicanDaily.org) – Democrats push a bill aimed at ending the debt ceiling, allowing the U.S. government to have “unlimited borrowing” power, Fox News reports. Democrats had introduced the bill in 2021, as pandemic conditions facilitate high debt costs, The Hill reported.
The U.S. debt ceiling hit $32 trillion on January 19. Since then, political commentators have debated the upcoming debt ceiling fight.
The Democrats argue that it is “dangerous” for Republicans to argue for U.S. government spending control. Democrats reason it will be better to remove the limits on federal borrowing and rather allow the government to borrow “whatever it needs.” The U.S. is, at present, one of the few countries to have a legal debt limit.
Freedom Caucus Republicans have led a pushback against the proposed Democrat debt ceiling bill, calling for control of spending.
The Problem Solvers Caucus, composed of Republicans and Democrats, proposed limiting the federal debt ceiling from a fixed dollar amount to a percentage of the economy’s output, Reuters reported. U.S. Representative Brian Fitzpatrick, the Republican co-chair of the Problem Solvers Caucus, called this a “possible bridge-building solution,” between the two parties.
On January 19, Democrats had said they would “not send anyone” to the negotiating table over the issue. Republicans, led by House Speaker Kevin McCarthy, have insisted the debt ceiling issue debates be bilateral, warning against “weaponizing” the debt ceiling. Political analysts project the debt ceiling battle in Congress to be a “historic fight,” Fox News reports.
As Democrats and Republicans draw political battle lines, key members of each party’s agenda take stark contrasting positions. Mitch McConnell, former House minority leader and Republican Representative of Kentucky, was noted as a “key player,” in the House fight, The Hill reports.
Representative Elizabeth Warren (D. M) renewed a call for debt ceiling removal during a “lame-duck” Congress in November 2022, Axios reported.
Warren takes an aggressive stance as the Democratic side’s agenda presses forward accusing Republicans of “running a con game,” with the debt ceiling. She is focusing her agenda on repealing Trump-era tax cuts, Business Insider reported.
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