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elected president donald trump took aim at former Speaker of the House Kevin McCarthy, describing the debt ceiling suspension passed in 2023 as “one of the dumbest policy decisions made in years.”
But while addressing the former House GOP lawmaker, Trump tempered the criticism by describing McCarthy as a friend and a good person.
“The extension of the debt ceiling by a former Speaker of the House, a good man and a friend of mine, from this past September of the Biden administration, to June of the Trump administration, will be considered one of the dumbest political decisions made in years There was no reason to do it – NOTHING WAS GAINED, and we got nothing – A major reason why he lost the speakership, no it’s our our,” Trump declared in the publication.
DEBT SHELTER IS ‘LATEST TOOL’ IN DEMOCRAT’S TOOLBOX TO OBSTRUCT TRUMP’S AGENDA: KAROLINE LEAVITT
House Minority Leader Kevin McCarthy and U.S. President Donald Trump attend a bill signing rally with local farmers on February 19, 2020 in Bakersfield, California. (David McNew/Getty Images)
“I call it ‘1929’ because Democrats don’t care what our country is forced into. In fact, they’d prefer ‘depression’ as long as it hurts the Republican Party. Democrats must be forced to vote. this treacherous problem NOW, during the Biden administration, and not in June, should be blamed for this potential disaster, not Republicans.” he added.
A deal passed by Congress and signed by President Joe Biden last year suspended the debt limit until Jan. 1, 2025, but Trump has called for the ceiling to be raised before taking office.
“In June 2023, the Fiscal Responsibility Act of 2023 was enacted, which suspended the debt limit until January 1, 2025. On January 2, 2025, the new debt limit will be in place for the amount of the outstanding debt subject to the statutory limit at the end of the previous day”, sec. Janet Yellen he wrote in a recent letter to congressional leaders. “Treasury currently expects to reach the new cap between January 14 and January 23, at which point it will be necessary for the Treasury to begin taking extraordinary action. I respectfully urge Congress to act to protect the full faith and credit of the States United”.
PRESIDENT BIDEN SIGNS FUNDING BILL TO STOP, STRICTLY AVOIDING A STOP
Earlier this month, Trump and Vice President-elect JD Vance pushed to raise the cap as part of an interim government spending proposal.
“The dumbest and most inept thing Republicans in Congress have ever done was to allow our country to hit the debt ceiling by 2025. It was a mistake and it’s something that needs to be addressed now,” they said the two men in a statement. “Raising the debt ceiling isn’t great, but we’d rather do it under Biden’s watch. If the Democrats won’t cooperate now on the debt ceiling, what makes you think they would in June during our administration?”
But the measure that eventually passed did not raise the ceiling.
Responding to Trump’s post about McCarthy, Rep. Chip RoyR-Texas, wrote in a post on X: “Unfortunately, 18 months ago only 71 House Republicans opposed this extension of the bad debt ceiling (in particular, virtually all of the @freedomcaucus).” .
TRUMP-BACKED SPENDING BILL TO AVOID GOVERNMENT SHUTDOWN FAILS HOUSE VOTE
Rep. Chip Roy, R-Texas, walks down a hallway during a House Republican Conference meeting at the U.S. Capitol on December 20, 2024 in Washington, DC (Alex Wong/Getty Images)
“Democrats voted down the recent debt ceiling increase proposal on 12/19: 197-2 against (its support price is very high: more spending/taxes),” Roy added. “Yes, we can and must address the debt ceiling – through reconciliation in January with mostly Republican votes – but with real and meaningful spending cuts.”
