McConnell: ‘Everybody Needs to Relax’ About Default
By Sandy Fitzgerald | Tuesday, 23 May 2023 03:27 PM EDT
Read more at https://www.newsmax.com/newsfront/mcconnell-debt-ceiling-talks/2023/05/23/id/1120923/
Senate Minority Leader Mitch McConnell on Tuesday said “everybody needs to relax” about the possibility of a debt default, insisting that the United States will not default on its payments.
“The last 10 times we raised the debt ceiling, there were things attached to it,” the Kentucky Republican told reporters in his home state, reported The Hill. “This is not that unusual. It is almost entirely required when you have a divided government.”
Treasury Secretary Janet Yellen has warned that the country could go into default on its debts by June 1, but McConnell insisted that President Joe Biden and House Speaker Kevin McCarthy will reach an agreement.
“Regardless of what may be said about the talks … the president and the speaker will reach an agreement,” said McConnell. “It will ultimately pass on a bipartisan vote in both the House and the Senate. The country will not default.”
McConnell, who has strongly supported McCarthy, R-Calif., through the negotiations, has said repeatedly that Biden must reach a deal with McCarthy.
McConnell had been expected to play a role in the talks but instead has maintained a supporting role, saying that any deal must come between the White House and the House Republicans. As a result, the Democrat-controlled Senate has not played a large role in the discussions.
McConnell has joined McCarthy at the White House for some of the talks, but most of the discussions are now between teams; Rep. Garret Graves, R-La., and Patrick McHenry, R-N.C., lead the GOP; while Democrats are headed by White House counselor Steve Ricchetti, Office of Management and Budget Director Shalanda Young, and White House Director of Legislative Affairs Louisa Terrell.
Republican negotiators Tuesday said the White House is showing little urgency in the discussions, considering that the House 72-hour rule means a deal much be reached by later this week so a bill can be passed before Yellen’s June 1 deadline.
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