On Monday. Nancy Pelosi and Chuck Schumer announced that they were planning to get the national debt limit suspended by linking a government short-term funding bill. The suspension will last till the midterm elections of 2022 end.
Dems Refuses To Give Up On Debt Limit
The package with such high stakes is scheduled to be put up for voting in the House this week. Only a few days after that, the government funding will expire and there will be a potential debt crisis in the U.S.
Possibly the biggest obstacle facing Schumer and Pelosi is the reluctance of the leaders of the GOP to stand down in the fiscal standoff. Republicans have refused to discuss the heavily toxic issue that is the debt default worth trillions of dollars that the Democratic government is facing.
As Dick Durbin, the Whip of the Senate Majority says the national debt cannot be defaulted on. The economy is recovering and this would be an extremely reckless thing to do. Richard Shelby, the top GOP senator from Alabama, said that the debt cliff must be tackled by those in power.
Several Republican senators have promised to vote against the legislative package. It would include a temporary spending bill, some disaster relief, as well as the suspension of the debt limit. Pelosi’s leadership team was scheduled to reveal the details by Monday. But even when evening came around, the measures were still being finalized. As a result, party tensions are high regarding the deadline crush coming in September.
On Monday, the complications only increased as Mitch McConnell further strengthened his GOP’s opposition to suspending the national debt limit while the Democrats are in power. He repeated that Republicans will only support resolutions containing funding for refugee resettlement and disaster aid, but not anything regarding debt limit.