2023-04-19 09:30:02
The Republican staff on Tuesday unveiled its roadmap on the thorny issue of the US debt ceiling, hoping the Democratic president Joe Biden give in with whom you are engaged in a confrontation.
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After a speech in Wall Street, the leader of the republicans in the House of Representatives Kevin McCarthy He detailed before his parliamentary group his plan to avoid default by the United States.
Measures immediately dismissed by the US president as “old economic theories of the past.”
“He offered huge cuts to important programs trusted by millions of Americans,” criticized Joe Biden, a sign that the battle between the two men is getting tough.
Like all major economies, or almost, the world’s leading power lives on credit. But unlike other developed countries, USA it regularly faces a legal constraint: the debt ceiling, which must be formally raised by Congress.
This famous “ceiling” of 31.4 billion dollars was reached in mid-January.
However, for the past 10 years, Republicans have used this routine legislative process as a tool for political pressure.
With their new majority in the House of Representatives, they promised to put very strict conditions on any increase in this ceiling, so as not to give the so-called “blank check” to the Biden administration.
“It’s time to stop this madness!” he urged. Kevin McCarthy, who poses as an uncompromising defender of budgetary discipline.
“The reckless spending of the Democrats has caused inflation, a banking crisis and many other problems,” he accused in Twitter.
His project, presented to his peers in Congress on Tuesday, contemplates, among other things, bringing the amount of federal government spending to 2022 levels and limiting its growth to 1% per year for the next ten years.
Democrats strongly oppose the Republican project, considering that conditioning an increase in the debt ceiling on budget cuts amounts to blackmail.
“This wish list is just a rehash of bad ideas that we have been hearing regarding for weeks,” the Democratic leader of the party criticized on Tuesday. Senate, Chuck Schumer.
Committed to this file in a bitter battle with the Biden camp, Kevin McCarthy wants to organize a vote on this text in plenary session at the end of the month, to increase the pressure.
Without a deal, US and global finances risk plunging into the unknown.
The Republican leader had been received by Joe Biden in early February to discuss possible outcomes.
The two leaders then registered their differences and failed to reach a compromise.
However, the “spokesperson” McCarthyPainfully elected in January, he will first have to overcome dissension in his ranks between his party’s right wing, which advocates budget orthodoxy, and moderate elected officials, to ensure this bill passes. home.
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