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The clock is ticking on America’s debt, and Republicans lawmakers are calling on President Joe Biden to agree to their plan to raise the debt ceiling and rein in government spending.
Under the leadership of Speaker Kevin McCarthy, R-Calif., House Republicans issued a plan to raise the debt ceiling by $1.5 trillion, or until the end of March 2024, whichever comes first, provided that Congress and the president agree to significant cuts in government spending.
Biden, however, has continued to argue that Congress should raise the debt ceiling without conditions.
“If we default on our debt, it will be 100% Joe Biden’s responsibility,” Sen. Rick Scott, R-Fla., says, adding that it is the president’s job to “figure out how to raise the debt ceiling.”
Biden’s other option, Scott says, is to “figure out how to not have to raise the debt ceiling by living within our means.”
The U.S. already has hit the debt limit of $31.4 trillion, but the Treasury Department is using “extraordinary measures” to prevent defaulting on loans to the government. The Treasury Department says lawmakers have to act to raise the debt ceiling by the beginning of June to prevent risk of default.
Scott joins “The Daily Signal Podcast” to explain why Republicans and Democrats are so divided in the debt ceiling debate and what will happen if Congress can’t reach an agreement with the president.
Also on today’s show, Scott talks about his recent trip to the southern border and what’s going to happen when Title 42 expires as scheduled Thursday.
Enjoy the show!
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