Senator Kennedy On ‘How Bad’ Debt Default Could Be: Google Could ‘Lay Off Up To 25 Members Of Congress’

Sen. John Kennedy (R-LA) joked about the pending debt crisis, and expressed confidence that Congress would work to resolve it. Joe Biden We will negotiate with House Republicans to establish meaningful spending cuts.

The lawmaker brought his trademark wit to the table. interview Fox News, where he predicated that “Congress will not vote to default on America’s debt” It is a reflection of the will and determination of the people. “In the past 25 years, our Congress has had 12 opportunities to vote to default,” He stated. “Congress has never done that, it never will, nor should it, so everyone should take their meds and chill.”

Janet Yellen, Treasury Secretary notified Kevin McCarthy, House Speaker (R-CA), and other legislators in a letter As of Thursday, the debt ceiling (an arbitrary limit placed on the national debt by Congress) had exceeded the legal limit of $31.381 billion. She warned lawmakers “extraordinary measures” The government’s solvency has been assured.

Both Republicans as well as Democrats have led government administrations. allowed As a result of the recession-induced lockdown, the budget deficits have been increasing rapidly. The national debt now stands at $31.5 trillion.

“The federal government spends too much, particularly over the past two years, and has too much debt,” Kennedy also added. “And if we don’t stop it, we’re going to end up in a deep recession, and Google may have to lay off up to 25 members of Congress. That’s how bad it’ll be.”

After Republican lawmakers, the latest breach of the debt limit occurred. struck a deal with McCarthy under which the party’s new majority would introduce a budget that refrains from increasing the statutory debt limit. Kennedy stated that Biden should work with conservative lawmakers to avoid default.

“Some people, including the White House,” He continued, “are trying to demonize the House Republicans, but they’re not saying, ‘Mr. President, we can’t wait to default.’ They’re saying, ‘Mr. President, we don’t want to default. We’re not going to default on America’s debt. But we want you to work with us to control spending and debt so that we don’t find ourselves in this position again.’”

Kennedy accused Biden’s administration of childishness because it failed to negotiate. “They won’t even meet with the House Republicans,” He stated. “I mean, how very mature. Apparently, the people at the White House are not like most teenagers: they’re all over 40.”

Recently, Senate Majority Leader Chuck Schumer and House Minority leader Hakeem Jeffries (both from New York) competed in a statement The fiscal uncertainty can be attributed solely to Republicans. “A default forced by extreme MAGA Republicans could plunge the country into a deep recession and lead to even higher costs for America’s working families on everything from mortgages and car loans to credit card interest rates,” They agreed.

Yellen, who told lawmakers that new investments into Civil Service Retirement and Disability Fund and Postal Service Retiree Health Benefits Fund were being suspended, also stated in her letter to McCarthy, that efforts to maintain the federal government solvent would only last until June. Kennedy stated that officials have until August or September to strike a deal. “Which is enough time for the White House to grow out of puberty and sit down and talk with the House Republicans.”

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