WASHINGTON, D.C. — Lawmakers are in a standoff on Capitol Hill over the nation’s debt limit and they’re running out of time.
The Treasury Department warns that the United States could default as soon as June 1 if Republicans and Democrats can’t come to an agreement.
“Look, frankly this should have happened awhile ago. We’ve known that this date was coming. It did get moved up to June 1, according to Janet Yellen but, at the same time, the principle holds true…this is how it works in split government,” Michigan Republican Congressman Bill Huizenga said. “For the last two years there has been unified government and frankly, we have been on a spending spree…and it’s time to have this tough negotiation and tough conversation about what is going to be happening in the future.”
President Joe Biden met with Speaker of the House Kevin McCarthy (R-CA), Senate Majority Leader Chuck Schumer (D-NY), Senate Minority Leader Mitch McConnell (R-KY) and House Minority Leader Hakeem Jeffries (D-NY) Tuesday to discuss the debt limit and how to avoid the nation’s first-ever default.
Congressman McCarthy said Tuesday after the meeting that he “didn’t see any new movement” toward ending the months-long deadlock over raising the borrowing limit.
Previously, 43 Senate Republicans sent a letter to President Biden saying they would not agree to raise the debt limit unless there were more talks about slashing the federal budget.
“I have voted for debt ceiling increases and I have voted against them. My criteria, personally, has been ‘Do I see modification and reform in our spending practices?’ And if I see that, then I am happy to vote for that debt ceiling increase,” Congressman Huizenga added.
If the government does default on June 1, a government shutdown is possible.
“Let’s be also very, very clear. Nobody wants this to happen. Nobody. Republican, Democrat, none of my colleagues that I’ve talked to actually want us to get to this point of default. I don’t believe it will happen. I do believe that there will be accommodation and we’ve got to have adults sitting at that table and making those decisions and be serious-minded,” Congressman Huizenga said.
