White House Wants Debt Ceiling Increase Unconditionally

Enjoyed this video? Join my Locals community for exclusive content at waynedupree.locals.com!
1 year ago

The White House demanded on Friday that the debt ceiling be increased unconditionally, setting the stage for what is sure to be a bloody battle with House Republicans in the coming months.

"We think that over the years and decades, there has been bipartisan agreement on the debt ceiling. And it ought to be accomplished in a nonpartisan manner. And it ought to be carried out without hesitation. This is significant," said Karine Jean-Pierre, the press secretary.

Jean-remarks Pierre's followed a letter from Treasury Secretary Janet Yellen to Speaker Kevin McCarthy (R-Calif.) warning that the country is likely to reach its $31.4 trillion borrowing limit in less than a week and that the department would soon have to start taking "extraordinary measures" to buy time for Congress to avoid default.

According to Yellen, those steps would likely afford lawmakers time to come to a compromise until early June.

Loading 10 comments...