{"id":65415,"date":"2023-05-11T02:00:37","date_gmt":"2023-05-11T06:00:37","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/biden-needs-to-man-up-congress-gets-candid-about-32-trillion-in-debt-65415"},"modified":"2023-05-11T02:00:37","modified_gmt":"2023-05-11T06:00:37","slug":"biden-needs-to-man-up-congress-gets-candid-about-32-trillion-in-debt","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/biden-needs-to-man-up-congress-gets-candid-about-32-trillion-in-debt-65415","title":{"rendered":"‘Biden needs to man up’: Congress gets candid about $32 trillion in debt"},"content":{"rendered":"
\n

The nation’s nearly $32 trillion debt highlights a bitter divide in the nation’s capital, spurring Congressional Democrats and Republicans alike to criticize the opposing side.<\/p>\n

“If you’re concerned about $32 trillion in debt, just wait until the Republicans breach the debt limit,” Rep. Ritchie Torres told Fox News on Wednesday afternoon.<\/p>\n

CAN BIDEN USE 14TH AMENDMENT TO AVERT A DEBT LIMIT CRISIS? LEGAL EXPERTS WEIGH IN<\/strong><\/a><\/p>\n

Tensions have risen since Treasury Secretary Janet Yellen<\/a> warned that the government won’t be able to pay its bills as soon as June 1 if Congress doesn’t suspend or raise the debt ceiling.<\/p>\n

“If we breach the debt limit as Republicans are threatening to do, it will actually raise borrowing costs, causing America to become more indebted, not less,” said Torres, a New York Democrat. “It’s going to compound the very problem that Republicans claim to want to solve.”<\/p>\n

But Rep. Nancy Mace<\/a> said the government is in no danger of defaulting.<\/p>\n

“That is a scare tactic by the left and the American people shouldn’t buy it,” the South Carolina Republican said. “We can also prioritize spending if government were to shutdown.”<\/p>\n

Mace said President Biden needs to “come to the table and negotiate with Republicans” to balance the budget, citing a similar move during the Clinton administration.<\/p>\n

“Biden needs to man up and come to the table and work with folks to rein in spending,” she said. “We can’t keep doing this.”<\/p>\n

WATCH MORE FOX NEWS DIGITAL ORIGINALS HERE<\/u><\/strong><\/a><\/p>\n

Sen. JD Vance<\/a> of Ohio commended House Republicans for passing a “commonsense piece of legislation to get the debt under control” that “put the country back on a sustainable fiscal pathway.”<\/p>\n

The bill<\/a>, which would freeze discretionary spending at 2022 levels and cap spending increases at 1% a year for the next decade, passed by a narrow 217-215 vote late last month. But it is unlikely to find a favorable audience in the Senate, where Majority Leader Chuck Schumer slammed the legislation<\/a> as “dangerous.”<\/p>\n

“I think it’s the right deal,” Vance, a Republican, said. “If Democrats don’t like it, which is fine, they ought to provide some alternatives as opposed to just complaining and doing nothing.”<\/p>\n

Rep. Robert Garcia said his main priority is making sure “basic tenets of government” such as health care, the student debt coverage package and veterans’ benefits are not impacted.<\/p>\n

“Right now, I think the leadership is doing a good job of holding the line,” the California Democrat said. “We do not want to cut benefits for people. That’s the key thing.”<\/p>\n

To hear more from members of Congress, click here<\/a>.<\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/politics\/biden-needs-man-congress-gets-candid-32-trillion-debt <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The nation’s nearly $32 trillion debt highlights a bitter divide in the nation’s capital, spurring Congressional Democrats and Republicans alike to criticize the opposing side. 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