Speaking with Fox News, newly appointed Speaker of the House Kevin McCarthy voiced his opinion on the debt-ceiling decision Congress will soon face — and he’s not too thrilled with the way it’s been handled so far .
Republican representatives appeared on Fox News Wednesday to talk about Congressional finances, which hit its borrowing limit on Thursday, sending the Treasury Department into overflow to prevent a default on the nation’s debt.
“What I really think is that we’re going to treat ourselves like we’d treat our own household. If you had a kid, you gave them a credit card, and they keep going over the limit, you just keep increasing it,” They said. “You’d better see what you’re spending your money on first? How can we cut items?”
According to CNN, Treasury Secretary Janet Yellen write letters to the House Speaker, expressing that she expected the measures (accounting strategy) to last through early June, but she wrote of “considerable uncertainty” surrounding that forecast.
This is the second time in less than two years that the Treasury Department has had to divert money to avoid breaching the debt ceiling. Similar measures were called for at the end of 2021, before lawmakers reached an agreement in December to raise the limit so default could be avoided altogether.
“Every government has to do this. Every state has to balance its budget, county, city. For the White House to say they won’t even look at it, that they can’t find a penny out of a dollar of eliminating the waste,” McCarthy continued. “I think they’re trying to put us into bankruptcy. have been What I’m saying and this is my conversation with the President, on our first conversation, ‘Let’s sit down together. Let’s look at places where we can change our behaviour.'”
After days of negotiations and failed votes, McCarthy was elected House Speaker on January 7. The politician represents the current House majority of Republicans and hails from California.
