Article Image

IPFS News Link • Government Debt & Financing

43 Senate Republicans Say No To Increasing Debt Limit Without Substantive Spending Cuts

• https://www.zerohedge.com, by Dorothy Li

A group of 43 Republicans in the U.S. Senate said on May 6 that they "oppose raising the debt ceiling without substantive spending and budget reforms," coalescing around their House counterparts ahead of the White House meeting over the federal debt ceiling amid a monthslong political standoff.

"The Senate Republican conference is united behind the House Republican conference in support of spending cuts and structural budget reform as a starting point for negotiations on the debt ceiling," the group of Republicans, led by Sen. Mike Lee (R-Utah), said in a letter addressed to Senate Majority Leader Chuck Schumer (D-Calif.).

Almost all Republicans in the Senate signed the letter, including Senate Minority Leader Mitch McConnell (R-Ky.).

"It is now clear that Senate Republicans aren't going to bail out Biden and Schumer, they have to negotiate," Lee said in the statement accompanying the letter.

"I thank my colleagues for joining my effort to emphasize this point in the clearest possible terms."

President Joe Biden is scheduled to sit down with House Speaker Kevin McCarthy (R-Calif.) on May 9 to discuss a path forward on the federal debt ceiling. But the White House has signaled that there would be little compromise from the president.

"[Biden] is not going to negotiate on the debt ceiling," White House Press Secretary Karine Jean-Pierre told reporters on May 2.

However, the president "is willing to have a separate conversation about their spending, what they want to do with the budget," she said.


ppmsilvercosmetics.com/ERNEST/