United States President Joe Biden said that reaching the debt ceiling deal in principle is an “important step forward” that reduces spending while protecting the Democrats’ “key priorities and legislative accomplishments.” He acknowledged that it is a compromise, “which means not everyone gets what they want.” “This agreement is good news for the American people, because it prevents what could have been a catastrophic default and would have led to an economic recession, retirement accounts devastated, and millions of jobs lost,” Biden said. He added the deal will be finalized over the next day and urged the House and Senate to pass it “right away.”
Some GOP lawmakers reportedly worried about debt ceiling hike
A number of Republican lawmakers raised concerns over the length of the debt ceiling suspension, United States media reported. They raised the issue during a conference call with House Speaker Kevin McCarthy after the GOP leadership came to an agreement on the debt limit with the White House. Virginia Representative Bob Good said he is “extremely disappointed,” according to Fox News. Meanwhile, North Carolina Representative Dan Bishop criticized the deal, pointing out that the Republicans’ debt ceiling bill, passed without Democratic support in April, only suspended the debt ceiling until 2024, while the new deal would see it suspended until 2025. It is unclear how many GOP lawmakers will choose to vote against the deal as the US risks defaulting on its debt on June 5.
NN: I am not so sure this done deal is done. One Republican with a bug up his ass can stop this party. Faster then a swat team raiding a crack house party. Talk about jumping out the window and heading for the hills. Everyone is cutting a deal. Its horse trading Washington.