Biden Doubles Down on Call for Clean Debt Ceiling After GOP Debt Bill Passes House

President Joe Biden is ignoring Speaker Kevin McCarthy (R-Calif.) and his repeated call for negotiations on the nation’s debt ceiling following House passage of a Republican debt and spending bill.

For weeks, Biden has refused to negotiate over raising the $31.4 trillion debt limit saying that doing so would put the “full faith and credit of the United States” at risk. The president has repeatedly called on Congress to pass a “clean” increase in the borrowing limit, unencumbered by restrictions on future spending.

Biden has also refused to talk about spending cuts, saying there would be no point until Republicans brought forward a spending proposal as a basis for discussion. The president released his 2024 budget proposal on March 9.

Republicans hurriedly packaged the Limit, Save, Grow Act, rushing it through committee in a single day and passing it by a 217-215 majority on April 27. GOP leaders intended it to be the basis for talks with Democratic leaders.

The bill authorized a $1.5 trillion increase in the debt ceiling, the unused portion of which would expire on March 31, 2024. The bill included spending cuts and caps that both Biden and Senate Democrats have said are unacceptable.

Moments after the bill passed, McCarthy renewed his call for the president to negotiate.

“It’s up to you now,” McCarthy told reporters, as if addressing Biden. “Whether the economy gets in any trouble, it’s you. Because Republicans raised the debt limit. You have not. Neither has [Senate Majority Leader Chuck] Schumer.”

White House Press Secretary Reiterates Biden’s Refusal to Negotiate

However, the following day, White House Press Secretary Karine Jean-Pierre, when asked whether the president was ready to negotiate, repeated Biden’s refusal to discuss the debt ceiling.

“The United States has never failed on its debt obligation,” Jean-Pierre said at the press briefing on April 27.

“House Republicans are threatening a default and crashing the economy by playing political games with the debt ceiling. President Biden remains committed to finding a solution that protects the full faith and credit of the United States while also ensuring that we can continue to invest in our future.”

What’s Next?

As the debt ceiling deadline approaches, it remains to be seen whether Republicans and Democrats will come to an agreement. The consequences of failing to raise the debt ceiling could be catastrophic for the U.S. economy and global financial markets.

• Will Biden continue to hold firm on his refusal to negotiate?
• Will Republicans be willing to compromise on spending cuts?
• What will be the ultimate outcome of this high-stakes political standoff?

Only time will tell.