Republicans said Sunday that they are working on a proposal to raise the debt ceiling, as Senate Majority Leader Chuck Schumer accused them of “brinksmanship.”
Republicans intend to propose spending cuts in exchange for raising the federal government’s self-imposed borrowing limit.
“We’re going to present a plan. That plan is still being debated. Our conference is having a heated debate. And that’s what democracy is all about,” Rep. James Comer (R-Ky.) told ABC’s “This Week.”
“Someone has to be the adult at the table,” he says, adding that he hopes House Republicans will be that person.
Last month, the debt ceiling was reached. Since then, the Treasury Department has employed a variety of financial ploys in order to keep the government running.
There could be a “economic and financial catastrophe” if the debt ceiling isn’t raised, Treasury Secretary Janet Yellen said earlier this month.
Schumer, a Democrat from New York, slammed the GOP’s approach and urged lawmakers to raise the debt ceiling without conditions.
“Keep it clean. “Do it without bluffing,” he said on “This Week.”
“Do it without the risk of hostage-taking, where things could blow up, because… if we don’t raise the debt ceiling, average American families will be hammered,” Schumer added.
President Biden chastised some Republicans during last week’s State of the Union address for wanting to cut Social Security and Medicaid. GOP lawmakers reacted angrily to the statement.
Schumer expressed reservations about Republican promises that those programmes are off the table.
“What is your plan, Mr. McCarthy?” he asked of House Speaker Kevin McCarthy (R-Calif.).
“He claims to want cuts. We inquire as to which ones. He won’t say anything. “Does it include Social Security and Medicare?” Schumer went on. “That would be detrimental to the American people.”
