Democrats Are Flushing The United States Credit Down The Toilet By Raising Debt Ceiling

Senate Republicans, Judiciary Committee Ranking Member Chuck Grassley, and Minority Leader Mitch McConnell, are resolute in that they won’t help Democrats raise the debt ceiling even in the face of the October deadline when the U.S. will default on its debt.

“If they have 50 votes for raising the debt limit and they’re in the majority…Why do they think Republicans ought to be involved when they’re in the majority?” said Grassley
“They want to spend this four and two tenths trillion – that’s one of the reasons why it’s got to go up so much — and no Republicans in favor of their programs. Why would we help them to get room in the debt limit to increase their budget.”

In protest of Democrat’s unreasonable spending plans, most notably their reconciliation bill, Forty-six Senate Republicans signed a letter last month vowing that they would not vote to help raise the debt ceiling.

Republicans say Democrats must raise the debt limit in the reconciliation bill itself or by separate reconciliation means as the GOP will not help them as long as the majority is still trying to pass trillions more in spending along party lines.

Democrats want a bipartisan bill to raise the debt ceiling. Their current plan is to include the debt ceiling increase in a government funding bill later this year. Majority leader Chuck Schumer, D-N.Y., accused Republicans of “playing dangerous political games” with the debt limit. He added that he believes Republicans will cave and “it will ultimately be done in a bipartisan way,” in part because business interest may pressure them into it.

When Grassley was asked Tuesday if he thinks Republicans are going to cave, he responded by saying that Democrats are going to have to raise the debt limit on their own.

“When they’ve got 50 votes, if they’re going to spend this four-and-two-tenth trillion, they’ll have to have the 50 votes to do it or they aren’t getting anything,” Grassley said, “So why are they coming to us, I don’t understand it?”

“They might get some Republican support if they don’t spend this four-and-two-tenth trillion dollars. That’s baked into this whole thing,” Grassley continued. “They want us to make room for them to spend money for programs we aren’t for. If they want to get rid of that stuff they might get some Republican support.”

McConnell, R-Ky.,expressed a similar opinion on the Senate floor Tuesday, saying that the GOP is not likely to give in on the stance it took just over a month ago.

“This isn’t the last four years, when we were reaching bipartisan government funding agreements, bipartisan appropriations, and bipartisan COVID bills,” Mcconnell said. “Democrats are making different choices. They want to make policy all by themselves, so they can come up with the financing on their own as well.”

In a letter earlier this month, the Treasury Secretary Janet Yellen wrote that the Treasury Department’s “extraordinary measures” to prevent default after the suspension of the debt limit expired on July 31 are expected to run out in October.

Schumer did indicate room for compromise under certain conditions.

“We are discussing all of the options with the president and with Speaker Nancy Pelosi,” Schumer said.