Democrats anxious over default, but refuse to abandon Biden’s no-negotiation pledge on debt limit -
On the day after House Republicans passed a plan to raise the nation’s borrowing limit and cut spending, Democratic lawmakers were not talking about possible compromise with the GOP. Democrats said the prospect of the government defaulting on its ability to pay interest on the more than $31 trillion national debt should not be taken lightly.
Mr. Blumenthal said there would be no harm in Mr. Biden beginning negotiations with House Republicans. But he said he is sticking with Mr. Schumer’s position that there should be no consideration of the House GOP bill. Complicating matters is that lawmakers do not have a clear date by which Congress must raise the debt ceiling. The U.S. Treasury Department began taking “extraordinary measures” in January to stave off default when the government hit its $31.4 trillion borrowing capacity.
“There’s not a clear answer, except to say let’s just take this [default] off the table and let’s then roll up our sleeves and get to work on whatever a negotiated budget will look like,” said Mr. Hickenlooper. “Now, the president can no longer put this economy in jeopardy,” said Mr. McCarthy. “We have lifted the debt limit, we have done our job, we are the only body that passed anything. ”
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