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Free AccessSchumer: GOP Hasn't Proposed Any Cuts Which Would Make Difference To Deficit
Senate Majority Leader Chuck Schumer (D-NY) has indicated to reporters he believes that House Republicans are losing confidence in their plan to condition raising the debt ceiling on government spending concessions.
- Schumer: "[House Speaker Kevin] McCarthy [R-CA)], Today is March 30th. It's been long enough. You still haven't come up with a single specific cut that makes any difference in debt that you want to do. Show us your plan. Drop the brinksmanship."
- Schumer: "House Republicans are starting to see why they themselves are starting to see why their attempts to threaten default to secure spending cuts was a terrible idea from the start."
- Schumer: "It's not only reckless, it's not only dangerous, it turns out they can't even follow through on it. Let's have a bipartisan and clean extension of the debt ceiling, as we've done many times before."
- Schumer's comments come as reports suggest that some members of the House Republican caucus have begun softening their hardline position on government spending. Punchbowl News reports that Speaker McCarthy may be open to pursing a short-term debt ceiling solution to extend the window for negotiations.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.