The Briefing Room
General Category => Politics/Government => Topic started by: mystery-ak on May 30, 2023, 08:21:29 pm
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Schumer endorses debt deal, pledges to move ‘quickly’
by Alexander Bolton - 05/30/23 3:44 PM ET
Senate Majority Leader Chuck Schumer (D-N.Y.) on Tuesday voiced his strong and unequivocal support for the deal unveiled over the weekend by President Biden and Speaker Kevin McCarthy (R-Calif.) to raise the federal debt limit through January of 2025 and cap spending over the next two years.
Schumer urged the House to quickly approve the bill and promised he will try to move it through the Senate as quickly as possible.
“I support the bipartisan agreement that President Biden has produced with Speaker McCarthy. Avoiding a default is an absolute imperative,” he announced on the Senate floor. “Nobody is getting everything they want. There’s give on both sides. But this agreement is the responsible, prudent and very necessary way forward.”
Schumer warned that a default would inflict “enormous” damage on the economy, predicting it would result in a “painful recession,” lead to as many as eight million lost jobs, cause interest and mortgage rates to soar and sink workers’ 401(k) accounts.
“I’m optimistic that the path has been paved. We must pass this as soon as we can. I hope the House moves quickly, and I’ll make sure the Senate moves quickly the moment this bipartisan bill is sent to us by the House,” he said.
more
https://thehill.com/policy/healthcare/4026659-schumer-endorses-debt-deal-pledges-to-move-quickly/
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If he's for it, it can't be good.
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If he's for it, it can't be good.
:yowsa: If he's in for it I'm against it always.
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There is no optimism on this -- if Chuckie likes it, McCarthy caved!