Lawmakers rush to raise the debt limit and avoid a government shutdown
Fox News correspondent Chad Pergram has the latest on the debates over the spending bills on ‘Fox Business Tonight’
Senate Minority Leader Mitch McConnell Monday warned President Biden that Republicans won't help Democrats raise the debt ceiling and told the president he should convince members of Congress from his party to raise the debt ceiling along party lines
"Since mid-July, Republicans have clearly stated that Democrats will need to raise the debt limit on their own. All year, your party has chosen to pursue staggering, ‘transformational' spending through unprecedented use of the party-line reconciliation process," McConnell said. "I have relayed this reality to your Democratic lieutenants for two and a half months."
McConnell added: "Your Democratic majorities have not plan of their own to avoid default… I respectfully submit that it is time for your to engage directly with Congressional Democrats on this matter."
YELLEN: FEDERAL DEBT CEILING SHOULD BE ABOLISHED BY CONGRESS
McConnell's letter came shortly before Biden was scheduled to make remarks of his own on the need to raise the debt ceiling. Treasury Secretary Janet Yellen says that the U.S. will default on its obligations later this month and has aimed to convince Republicans to help Democrats raise the debt ceiling.
"What they're doing today is so reckless and dangerous in my opinion," Biden said of Republicans. "The United States is a nation that pays its bills and always has."
He added: "Raising the debt limit is about paying off our old debt. It has nothing to do with new spending being considered."
McConnell's letter, however, notes that Biden voted against GOP efforts to raise the debt ceiling three times as a senator, in "2003, 2004 and 2006."
CLICK HERE TO READ MORE ON FOX BUSINESS
"Bipartisanship is not a light switch that Speaker Pelosi and Leader Schumer may flip on to borrow money and flip off to spend it," McConnell said. "We have no list of demands. For two and a half months, we have simply warned that since your party wishes to govern alone, it must handle the debt limit alone as well."
FOX Business' Hillary Vaughn contributed to this report.
Source: Read Full Article