Global Courant 2023-05-12 19:27:19
JD Vance and former President Donald Trump shake hands in 2022.Drew Angerer/Getty Images
Trump said in a CNN town hall this week that the GOP should “go into default” if they don’t get cuts to raise the debt ceiling.
Senator JD Vance defended Trump’s comments to Axios, saying he was merely giving “political advice.”
Still, other Republican senators said defaulting is not an option.
Former President Donald Trump weighted by the debt ceiling crisis this week – and he thinks the Republicans’ best bet is to head for economic catastrophe. Ohio’s freshman GOP senator listens.
Speaking at a CNN Town Hall Wednesday night, network host Kaitlan Collins said early Trump how he views the current debt situation in the country. Since January, both sides of the aisle have been sparring over the best course of action to raise the debt ceiling and ensure the US can continue to pay its bills, but the country is dangerously close to running out of money – Treasury Secretary Janet Yellen said the US could pay off his debt as early as June 1.
Trump thinks the Republicans should not give way to them bill that trades an increase in the debt ceiling for substantial spending cutseven as President Joe Biden has insisted he will not accept anything but a clean raise, without any cuts.
“I say to the Republicans out there, congressmen and senators, if they don’t give you massive cuts, you’re going to have to default,” Trump said. said. “And I don’t think they’re going to default because I think the Democrats will absolutely give in because you don’t want that. But it’s better than what we’re doing now because we’re spending money like drunken sailors.”
“You might as well do it now, because you’ll do it later,” he added. “Because we have to save this country. Our country is dying. Our country is being destroyed by stupid people, by very stupid people.”
Senator JD Vance argued that Trump was just trying to help his party. Vance told Axios that “what the president is doing is actually giving political advice…not financial advice.”
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“He’s basically saying that if the Democrats are going to play chicken, the Republicans should be willing to play that game too,” Vance said, adding, “I think what President Trump is doing is fundamentally the right thing, and that’s Republicans.” can’t pre-emptively break ranks here or we’ll be in a terrible bargaining position in the talks with Biden.”
Still, most lawmakers in both parties agree that a default would be bad — and Congress should do its job to make sure it doesn’t.
GOP Senator Josh Hawley, for example told Axios that he disagreed with Trump’s comments and that “there’s no world where (a default) happens.” His fellow Republican Senator Cynthia Lummis echoed that sentiment, saying “a default should be avoided, period.”
“I think we have to do our job,” Connecticut Democratic Senator Chris Murphy previously told Insider. “I think we shouldn’t default on our debts. Congress should do the job we’ve done without exception so far.”
Biden was due to meet with top congressional lawmakers on Friday for the second time this week to discuss the debt ceiling, but multiple reports said the meeting has been postponed so staffers can continue to make progress with negotiations on their side. Politics reported that possible areas of compromise could be energy enabling reforms and the withdrawal of unused pandemic funds, but people familiar with the administration told Politico Biden they will not budge on student loan forgiveness, and Medicaid and food aid.
Read the original article Business Insider
