Biden Admin Uses Trump’s Own Words to Blast McCarthy’s Wall St. Speech – By Anna Skinner (Newsweek) / Apr 17 2023
- The Biden administration responded to House Speaker Kevin McCarthy’s speech on Wall Street Monday, in which McCarthy addressed the nation’s debt ceiling.
- A White House deputy press secretary accused McCarthy of using the nation’s debt as a bargaining chip, going against advice from former President Donald Trump.
- Mccarthy proposed legislation that would lift the nation’s debt ceiling but cap future spending at 1 percent.
The Biden administration quoted former President Donald Trump when responding to House Speaker Kevin McCarthy’s speech Monday on Wall Street in New York City.
McCarthy delivered the speech to the New York Stock Exchange where he addressed the ongoing issues with the nation’s debt ceiling. Democrats and Republicans have tussled for months with conspiring a plan to address the debt ceiling, now at $31 trillion. The speech comes as the federal government expects to reach its spending limit on the debt ceiling this summer and Americans continue to face inflation as the Federal Reserve implements higher rates.
Democrats have repeatedly called for raising the debt ceiling to continue funding federal programs, but House Republicans—namely McCarthy—have been set against continuing to spend without restrictions.
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