March 10, 2023 15:04 GMT
Freedom Caucus-"US Will Not Default Unless Biden Chooses To Do So"
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The House Freedom Caucus of right-wing Republican representatives has called out President Joe Biden on the issue of the debt ceiling, stating that they will only provide their votes if the Biden administration agrees to USD130bn in spending cuts and a cap on federal agencies' budgets in the future,WaPo reports.
- Freedom Caucus chair Rep. Scott Perry (R-PA) speaking at a presser: "America will not default on our debts unless Pres.Biden chooses to do so. To ensure America does not default on our debts, the House Freedom Caucus is offering a responsible solution to this self-imposed crisis..Plan is to shrink Washington and grow America."
- Speaking to the House Ways and Means Committee, Treasury Secretary Janet Yellen stated that, "In my assessment — and that of economists across the board — a default on our debt would trigger an economic and financial catastrophe...I urge all members of Congress to come together to address the debt limit — without conditions and without waiting until the last minute.”
- House Speaker Kevin McCarthy (R-CA) faces a difficult challenge in uniting disparate sections of his party around a single set of demands for the White House in exchange for votes on the debt ceiling, with the Freedom Caucus advocating major cuts while other representatives are more moderate in their demands. Given McCarthy's narrow majority, he cannot afford to alienate either side.