CNN
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Millions of Americans may face enormous consequences unless the speaker Kevin McCarthy can move from the debt trap that President Joe Biden, who instead threatens to seize his republic in the House of Representatives.
The Republican in California traveled to Wall Street on Monday to provide a new warning that the majority of the Republican Party in the House of Representatives will refuse to raise the maximum government borrowing unless Biden agreed to spending discounts that effectively neutralize his local agenda and adapt the White House heritage.
However, McCarthy assured the merchants, however, that it will never allow the American government to shorten its obligations – a possible disaster that can lead to the payment of social security payments, and lead to recession and reduce jobs in the event that the roof of the debt is not raised.
This is where the risks to the Americans are exposed to. It is difficult to see how an upward speaker, with a small majority and a conference that contains many extremists, can be the engineer of any of these results.
Most countries do not ask the legislature to raise the borrowing threshold for the government. But the strange situation in the United States made a routine duty once an opportunity for political harm in a stable era. Since the government spends more than its revenues, it must borrow money to serve its debts and pay the price of spending already authorized Congress. It has no problem getting more credit because the United States pays its bills and has always had an excellent credit rating, despite the previous reduction of the threat of failure to pay.
At least, this is the way you have worked so far.
McCarthy cleared his conference at a closed meeting on Tuesday to line up a draft law that would raise the debt limit for a year, but it requires a wave of spending from Biden. He designed this measure as a preliminary way to force the president at the negotiating table. But the draft law is purely tactical because it has no chance to pass the Democrats -led Senate.
But in a sign of how difficult the speaker was to withdraw this maneuver, there were signs of internal dispute over what should be in the package between the members of the Republican Party.
Representative Scott Perry, Chairman of the Board of Freedom of Freedom, was frustrated by the lack of privacy in the plan and wanted more severe discounts.
“I don’t know what is in the package completely. This is the issue,” Perry told reporters. Some members appear to be hesitant to adhere to it so far. “I am open to it, but I am still” no. ”
It is not unusual for many factions in the majority of Congress bargaining on the details before agreeing on the final package. The head of the financial services in the House of Representatives Patrick Makhnri, a McCarthy ally, was confident that the plan would pass the house. He added: “The question is, what does the White House do after that as soon as we pass this package?” So we will have the first opening offer here. And we will see whether the president is ready to come to the table and negotiate like former presidents. ”
However, Mchenry’s suspension reflects a major defect in the Republican Party’s strategy because it depends on McCarthy’s belief that Biden will have no choice but to come to the table. The White House insisted that the house should do its work and pass a simple bill that does not only raise borrowing limit
In fact, McCarthy has already conducted a severe test of his leadership due to the lack of guarantee that he is able to pass this measure in a house that can only lose four votes, as there are few signs that the broken Republican Party can agree on the programs that must be cut and the amount of the amount. Even if the procedure is pressure through the House of Representatives in the coming weeks, it is likely to be an ideal Republican product that Biden and the Democratic Senate will never be bitten. It is almost certain that any later package has appeared will be characterized by concessions that can split the support of the Republican Party.
However, the spokesman was usually bullied when Monday expected he had votes to pass his initial bill.
“I think we got 218 to raise the roof of the debt,” McCarthy told CNN. “We have a lot of consensus in the conference. We will meet together and work through it.”
However, his assurances may not be very reassuring, because his similar predictions were that he had the sounds to win the speaking in January, deteriorating a comic process that caused huge concessions to the members of his most extreme party and requested 15 votes before finally winning the function of his dreams.
But with the roof of the debt, the ways of Americans and the global economy will be, rather than McCarthy’s direct political ambitions, which are at stake.
Republicans have not yet agreed on their demands
So far, Republicans seem to have a problem negotiating with themselves, not to mention Biden. The Republican Republican Deast Johnson of South Dakota, who helps in designing the position of the Republican Party, said that although the party hopes to pass the first draft law next week, the challenges are still ongoing.
Johnson told CNN’s Manu Raju: “The truth is that in negotiation, you never get everything you want. So I think a bigger issue now is how we can pressure these thousands of desires to a number that can be managed and reliable?”
Other complications are that some members of the Republican Conference said that they will never vote to raise the roof of the debt in principle – regardless of the cause. In a powerful majority, such acceptance can be ignored. In the narrow majority of McCarthy – which was secured after the mid -period elections 2022, which were less than the expectations of the Republican Party – they have a real crane. Democrats do not have a great incentive to help McCarthy out in the event of the Republican Party splits because they are supposed to vote in favor of the huge discounts that Biden opposed to any final bill for the Republican Party. Perhaps the speaker was unable to risk using democratic sounds anyway after approving a base, because he fought to win his job, and this allows any one member to contact the vote to overthrow it.
The next confrontation on the roof of the debt is the decisive moment in a two -year period of uncomfortable coexistence between the Democratic President and the Republican Speaker. Biden or McCarthy can lose, and the result will form all of their heritage.
There is nothing wrong with Republicans who seek to use the financial leverage they won in democratic elections to try to enhance their political goals of cutting public spending. There are some lawmakers who are honestly worried about debt and deficit – even when their party runs the government. Many economists are always concerned about the enlarged national debt, which collapsed through $ 31 trillion. Biden’s Great spending on joint relief packages, infrastructure, climate reduction measures and healthcare programs has sparked a discussion about whether the inflation crisis has increased.
But do Republics choose the right hill for this battle when the jobs are, and the pension plans associated with the market and the economic well -being of millions are in danger? The absolute nature of the McCarthy position does not respond to a precise balance of strength. Democrats control the White House and the Senate, so in the delivery of Republicans, the House of Representatives, albeit barely, may have been searched for a compromise instead of confrontation.
Republicans are also facing hypocrisy, since they had no little problem in raising the debt limit when Donald Trump, who was rarely worried about making a large survival, was president. The forty -fourth leader of the president is also on a video dating back to the days of the White House, saying that he cannot believe anyone who will use the roof of the debt as a “negotiating sorry”. Republicans turn into financial falcons when Democrats are in office, but often they look in the other direction when there is one of their oval office.
In order to prevail in this battle, McCarthy must change the political dynamic in one way or another by inhibiting Biden with blame for any default and economic tensions that can begin to appear even before the country drowned on a financial cliff.
Try to do this on Monday by insisting that the biggest threat to the American economy was not hypothetical but increasing from national debt.
He said: “Without exaggeration, the American religion is a time bomb that will explode unless we take serious responsible measures. However, how was President Biden’s reaction to this issue?
Previous financial confrontations often increased between conferences controlled by the Republican Party and Democratic Presidents badly for Republicans. For example, presidents Bill Clinton and Barack Obama, for example, described their opponents in the House of Representatives as economists, and thus gained political power.
McCarthy needs the opposite of the equation, which is why he is trying to photograph Biden as stubborn in refusing to negotiate concessions to raise the roof of the debt. The two men have not met during the past 75 days, and the White House is committed to his position that the place where the talks went are more than a budget – which Republicans did not produce in the House of Representatives – and not with the full belief and credit of the American government on the line and the reputation of America as a financial refuge at stake.
McCarthy, therefore, in the connection. Congress, not the president, has the ability to raise the borrowing limit for the government. However, the spokesman Biden is calling for abandoning his store because of a duty that only McCarthy and his legislators can fulfill him. No one will benefit from the failure to pay – especially that a president is unlikely to turn to his re -election race. But it is difficult to see how McCarthy can get out of this puzzle as the winner if it has caused an economic collapse.
The White House is twisted that knife on Monday.
“There is one responsible solution to the debt: its treatment immediately, without being ingenuity or hostage – as the Republicans did three times in the last administration and as the presidents have argued by Trump and Rigan in his post,” said Andrew Pitsz spokesman.
Republicans in the Senate have so far tried to avoid chaos. But the Republican leader of the Senate Mitch McConnell provided at least his colleague in the House of Representatives some moral support on Monday when he returned to the Capitol after his collapse after the fall.
“President Biden cannot stick to his fingers in his ears and refuses to listen, speak or negotiate. The American people know this. The White House needs to stop wasting time and start negotiating with the Speaker of the House of Representatives.”
On Monday, McCarthy’s speech reinforced the impression that the devastating political crisis around the roof of debt, after months of boiling, is moving towards boiling.
The leader of the Democratic majority of the Senate Chuck Schumer from New York said on Monday: “He went to Wall Street and did not provide us with more details, nor more facts, nor new information, and I will be frank: If the spokesman McCarthy continues in this direction, we are heading to underdevelopment.”