Vance criticizes Biden as White House warns of recession.

Senator J.D. Vance Criticizes Biden Administration’s Handling of Debt Plan

Sen.
J.D. Vance
(R-OH)
criticized the Biden administration for refusing to negotiate on the current state of the debt plan, saying the president is playing “Russian roulette with the country’s finances.”

Vance spoke at a press conference Wednesday with fellow Senate
Republicans
the same day the White House posted a report detailing the potential economic impacts if lawmakers fail to act on the
debt ceiling.

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Last week, Speaker Kevin McCarthy (R-CA) narrowly passed a bill to raise the U.S. debt ceiling, hoping President Joe Biden would compromise.

“House Republicans have done something very simple, but I think very profound: they’ve advanced a program that pays the country’s debts while putting the country on a more sustainable path financially,” Vance said at the conference. “And what Joe Biden has done is refuse to negotiate from the very beginning.”

In a report titled “The Potential Economic Impacts of Various Debt Ceiling Scenarios,” the White House warned that failing to raise or suspend the debt limit could lead to a recession, potentially putting the country in worse shape than in 2008.

• The report stated that default leads to deep, immediate recessionary conditions.
• A lack of action could lead to an increase in borrowing costs and to taxpayers and hurt the nation’s overall economic confidence.

“I guarantee you: All 217 Republicans who voted for it didn’t like at least one thing in the package, but they came together because paying the country’s debts and doing our job as leadership is more important than any single person,” Vance said.

Vance has condemned Democrats’ idleness over the debt ceiling in previous months, saying all the GOP is asking is a bipartisan effort to get the country back on track financially.

“The irresponsible thing is to do nothing, which is unfortunately exactly what the Democrats are proposing,” Vance said on Fox in February.

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While prominent GOP leaders are targeting the Biden administration for withholding negotiations, the White House has strongly opposed the current debt plan version.

“Joe Biden should take a cue from congressional Republicans,” Vance said. “Show some leadership; come to the table. The country needs him to do exactly that.”