Most Republicans insist they have little anxiety about Wall Street's rattled nerves as a dysfunctional Congress barrels closer toward this summer’s drop-dead debt limit date.
House Republicans left Washington on Friday for a week feeling elated about their massive debt bill they muscled through despite the thinnest of narrow margins. Just don’t call it a breakthrough.’s fiscal standoff with President Joe Biden remains as deadlocked as ever, with the GOP demanding steep spending cuts in exchange for lifting the nation’s borrowing limit to stop a dangerous debt default.
“I think once we have that date with clarity … then we’ll know with some urgency our timeframe for dealing with this challenge,” House Minority Leader told reporters Friday, adding: “Understand that this is a manufactured crisis that extreme MAGA Republicans are foisting on the American people.” Many of the Republicans currently holding those battleground seats, however, say they aren’t sweating their yes votes., who flipped a purple Long Island seat last fall, said he recently did a tele-town hall with over 13,000 callers where he asked each person to weigh in on whether they supported his position on debt: Raising the limit, but with some cutbacks to federal spending, including Covid aid.
Even so, White House officials have emphasized in conversations with Democratic congressional leaders the importance of staying aligned on Biden’s no-negotiation stance. The president’s team is clearly betting that it still holds the stronger hand in the debt ceiling standoff; the White House reacted to the House GOP’s bill by issuing a flurry of statements and analyses detailing the damage it would do to the economy and popular programs.
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