Today, Speaker McCarthy met with President Biden, Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell, and House Minority Leader Hakeem Jeffries to negotiate raising the debt ceiling after being met with silence from the White House for over three months.
Biden and extreme Democrats are continuing to avoid their responsibilities to negotiate the debt ceiling. House Republicans on the other hand have passed sensible and reasonable legislation to address our nation’s debt crisis, limit Washington’s irresponsible spending, save taxpayer dollars, and grow the American economy.
BIDEN’S HISTORY OF SUPPORTING DEBT CEILING NEGOTIATIONS:
- 2009: Biden led debt limit negotiations with House Blue Dog Democrats.
- 2011: Biden led debt limit negotiations with House Republicans.
- Biden expressed how “pleased and thankful” he was to begin talks.
- Biden even said negotiating the debt limit in 2011 was an “honor”: “I have had the great honor of spending hours and hours and hours, as you’ve covered my negotiating the debt limit and other things, with the leaders of the Republican Party.”
- Biden called negotiations a “normal” process.
- Biden acknowledged you “have to have compromise” and criticized those with a “my way or the highway” approach.
- During 2011 debt limit negotiations, Biden said “we’ve got to make some real progress” on the long-term debt. Back then, the national debt was around $14 trillion. Today, the national debt is over $31 trillion – and Biden refuses to negotiate.
- 2021: Biden hoped for “intelligent and honest conversation” with Republicans on a debt limit increase.
SCHUMER’S HISTORY OF SUPPORTING COMPROMISES DURING DEBT CEILING NEGOTIATIONS:
- In July 2011, during debt ceiling negotiations, then-Senator Schumer said, “We have shown we’re willing to move way off our starting gate to compromise.”
- In July 2011, during debt ceiling negotiations, then-Senator Schumer said, “Well, if one side is willing to reach out and compromise all the time, and the other side says no, it is awfully hard to get it done.”
- In July 2011, during debt ceiling negotiations, then-Senator Schumer said, “The right thing to do is what the president said: sit at the table day after day after day, you know that works, and sometimes in ways you wouldn’t imagine, until there’s a deal.”
- In August 2011, during debt ceiling negotiations, then-Senator Schumer said, “We ought to come together like grownups and come somewhere in the middle. We, Democrats, believe that we have met them part of the way. We have heard the message that we need to cut waste, inefficiency, and even some programs that are good, but maybe have outlived their usefulness.”
RECENT HISTORY OF DEBT CEILING NEGOTIATIONS:
- In 2017, President Trump and Democrats waived the debt limit for three months while providing disaster relief for Hurricane Harvey.
- In 2018, “After months of closed-door negotiations, then-Senate Majority Leader Mitch McConnell and then-Minority Leader Chuck Schumer locked in a plan to raise spending caps, increase the debt limit and fund the government.”
- In 2019, “After months of closed-door negotiations, then-Senate Majority Leader Mitch McConnell and then-Minority Leader Chuck Schumer locked in a plan to raise spending caps, increase the debt limit and fund the government.”
JOE BIDEN AND HOUSE DEMOCRATS’ FAILED TAX AND SPEND POLICIES CAUSED THIS DEBT CRISIS:
- Since President Biden took office in January 2021, he and House Democrats have increased the 10-year spending trajectory by $10 trillion.
- This includes ramming through their $2 TRILLION so-called “American Rescue Plan” that ignited the highest spike in consumer prices in forty years, including:
- $400 billion for policies that reduced private sector employment such as expanding unemployment insurance benefits that too often paid Americans to stay home rather than go to work and dismantling the Child Tax Credit by removing work requirements.
- Billions lost to fraud due to Democrats’ rejection of Republican safeguards.
- Billions in inflationary waste and abuse, including:
- $783 million worth of checks to federal prisoners.
- $1,400 stimulus checks sent to potentially as many as 70,000 Japanese citizens living in Japan.
- $15 million to build a sports complex for the 2026 World Cup.
- $2.1 million for a golf course.
- $2 million for a ski slope.
- $140 million for a luxury hotel.
- $5 million to build walking trails dedicated to the history of moonshine.
- $1.2 million was spent on trash cans.
- $2 million to build a 60-acre RV campground at a safari park.
- And the list goes on…
- After passing the so-called “American Rescue Plan,” Democrats moved on, passing the so-called “Inflation Reduction Act,” which included:
- $80 billion to the IRS in order to target working families with audits.
- $400+ billion for Green New Deal initiatives.
- Biden’s Executive Actions have totaled OVER $1.5 trillion in spending, including Democrats’ student loan giveaway to the wealthy
FAST FACTS ON THE LIMIT, SAVE, GROW ACT OF 2023:
- Saves Americans $4.8 trillion over the next 10 years, according to the CBO.
- Ends the era of reckless Washington spending
- Reclaims billions in unspent COVID funds
- Defunds Biden’s IRS army
- Repeals “Green New Deal” tax credits
- Prohibits Biden’s student loan giveaway to the wealthy
- Strengthens the workforce and reduce childhood poverty