Key Republican: Biden Has No Debt Ceiling Plan

Rising Republican star Rep. Byron Donalds (R-FL) told Fox News Sunday that President Joe Biden has no “strategy” to handle negotiations over raising the country’s debt limit as a potential deadline looms at the end of May. 

The Florida Republican said that the “solution is not just massive borrowing and massive spending.” 

He said that such a decision would “lead us to a much greater crisis down the road.” 

The member of Congress laid the blame on the president, saying that Biden “doesn’t have a plan.” 

Donalds said that “what Joe Biden brings America to every single time is a crisis point.”

The representative’s comments come as Biden and Republicans in Congress appear no closer to a decision regarding the debt limit. The president and House Speaker Kevin McCarthy (R-CA) are expected to meet this week to discuss the topic.

This comes as the two were slated to meet on Friday, which was nixed the day prior. 

Furthermore, Biden has given mixed signals over whether or not he would negotiate with Republican leaders.

The impasse could have significant implications for the American economy. Treasury Secretary Janet Yellen said that the United States may default on its debt as soon as June if the limit is not raised.

Yellen said that not passing the ceiling increase would be an “economic and financial catastrophe” for the United States. 

Furthermore, the cabinet secretary wrote to Congress, stating that “waiting to the last minute to suspend or increase the debt limit can cause serious harm to business and consumer confidence, raise short-term borrowing costs for taxpayers and negatively impact the credit rating of the United States.”

Former President Donald Trump opined on the matter during his CNN town hall last week. 

The 2024 candidate told Republicans in Congress that “if they don’t give you massive cuts, you’re going to have to do a default.” 

Trump said that he believed “Democrats will absolutely cave because you don’t want to have that happen. But it’s better than what we’re doing right now because we’re spending money like drunken sailors.”