Officials in the White House have come forward and stated that President Joe Biden is all set to veto Speaker of the House Kevin McCarthy’s legislation concerning the debt limit, should it make it through both chambers of Congress. Because we all know how much the radical leftists love to blow other people’s money, right? Why worry about cash when you can just print more, right? What was that? Inflation? Never heard of him.
The Office of Management and Budget recently commented on the bill in a policy statement released Tuesday morning, stating the Biden administration is “strongly opposes the Limit, Save, Grow Act of 2023, which is a reckless attempt to extract extreme concessions as a condition for the United States simply paying the bills it has already incurred.”
“The President has been clear that he will not accept such attempts at hostage-taking. House Republicans must take default off the table and address the debt limit without demands and conditions, just as the Congress did three times during the prior Administration,” the statement goes on to add, according to the Daily Wire. “The bill stands in stark contrast to the President’s vision for the economy. The President’s Budget invests in America, lowers costs for families, grows the economy, and reduces the deficit by nearly $3 trillion by asking the wealthy and large corporations to pay their fair share. Therefore, if the President were presented with the Limit, Save, Grow Act of 2023, he would veto it.”
The statement comes along as President Biden officially announces his intentions to run for reelection in 2024. Not long after the video containing the president’s announcement was released, Speaker McCarthy slammed Biden for pushing his campaign instead of talking about our country’s problems with debt.
“I know President Biden might be focused on his own political future today, but he should be focused on the future of America,” McCarthy stated. The GOP officially released their highly-anticipated debt limit plan just last week, which is designed to help avoid a debt ceiling crisis.
The “Limit, Save, Grow Act of 2023,” which was introduced by the Republican leadership within Congress, clocks in at around 320 pages, and would provide a $1.5 trillion lift to the debt limit or until March 31, 2024, which ever happens to come first. Republicans want a trade off that consists of various spending cuts and commitments designed to help stimulate economic growth.
“Speaker Kevin McCarthy (R-CA) delivered remarks on the House floor, explaining that the legislation led by Budget Chairman Jodey Arrington (R-TX) seeks to ‘responsibly raise the debt limit into next year and provide more than $4.5 trillion in savings to American taxpayers,'” the report said. “To reach that goal, McCarthy said the proposal would limit government spending, return discretionary spending to the pre-inflationary fiscal year 2022 levels, and then limit spending growth to 1% per year.”
Not long after the announcement made by the House Speaker, President Biden, cranky and cantankerous as ever, stated that he was refusing to meet with McCarthy to negotiate the debt limit until Republicans put out a 10-year budget proposal.
McCarthy then said that the House is planning to hold a vote this coming week.
“We will pass it, and we will send it to the Senate,” he remarked.
While the upper chamber of Congress is controlled by Democrats by a small margin, McCarthy then made the suggestion that Republicans would end up having serious momentum if the legislation is passed in the House.
“When we send this to the Senate, we’re showing that, yes, we’re able to raise the debt ceiling into the next year, but what we’re doing is, we’re being responsible, fiscally, and bringing our house back in order,” he commented. “It doesn’t solve all of our problems, but it gets us on the right path. And this gets us to the negotiating table, just as government and America expects us to do so.”
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