Biden calls debt ceiling fight a 'manufactured crisis'
by Eden Villalovas, Breaking News Reporter |
May 05, 2023 02:33 PM
President Joe Biden claimed the fight over raising the debt ceiling is a "manufactured crisis" created by Republicans.
House Speaker Kevin McCarthy (R-CA) and House Republicans have passed a bill to address the looming pocketbook problem but have not received cooperation from Democrats in the Senate or White House. Biden and other Democratic leaders are insisting Republicans help raise the debt ceiling without any spending cuts or caps attached to the negotiations.
“The last thing this country needs after all we’ve been through is a manufactured crisis," Biden said. "That's what this is, a manufactured crisis ... driven by the MAGA Republicans in the Congress."
Biden tried to bolster Democrats' negotiating position by praising the latest job reports from the Bureau of Labor on Friday, reporting the U.S. added 235,000 jobs in April. Statistics show that unemployment rates fell to 3.4%, a record low level since 1969. The report comes after a year of several Federal Reserve interest rate rises, with a 16-year high hike of 0.25 percentage points hitting Thursday. Biden praised his administration for adding 12 million new jobs since taking office.
Armed with positive economic news, the president said he plans to tell McCarthy an other congressional leaders that everyone needs to work out a solution to the debt ceiling. Biden is set to meet with McCarthy, House Minority Leader Hakeem Jeffries (D-NY), Senate Majority Leader Chuck Schumer (D-NY), and Senate Minority Leader Mitch McConnell (R-KY) on May 9.
“Next week I'm going to reiterate to congressional leaders that they should do what every other Congress has done – that is pass the debt limit, avoid default,” Biden said.
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https://www.washingtonexaminer.com/news/white-house/biden-calls-debt-ceiling-fight-manufactured-crisis
