46 GOP Senators sign pledge not to help Dems raise the debt ceiling

WHAT YOU NEED TO KNOW:

• Nearly all Senate GOPs have signed a pledge that they would not support the Democrats’ move to increase the debt ceiling.
• The pledge was spearheaded by Sen. Rob Johnson (R-WI.)
• Senate Minority Leader Mitch McConnell (R-KY.) said that Democrats are on their own.

To halt the Democrats’ efforts in raising the debt ceiling, almost all GOP Senators have signed a pledge not to support their Democratic colleague in passing the bill in the Senate.

The pledge, which was initiated by Republican Sen. Ron Johnson (WI.), garnered 46 signatures out of all 50 GOP Senators on Wednesday. It now becomes a hurdle for Democrats who are wishing to secure the $3.5 trillion package.

“They shouldn’t be expecting Republicans to raise the debt ceiling to accommodate their deficit spending,” Johnson told The Journal.

The pledge had a statement that read: “We should not default on our debts under any circumstances. If Democrats threaten a default, it will only be because they refuse to vote for the debt ceiling increase necessitated by their own irresponsible spending.”

In the almost equally divided Senate, Democrats would need at least 10 Republicans to successfully increase the debt-ceiling plan. If the proposal gets a nod, the Treasury Department would be instructed to issue a new debt and not new spending.

On August 1, the debt limit was restored at $28.5 trillion since it was halted by a 2019 law. Presently, the Treasury is taking “extraordinary measures,” which means that it is paying off the government’s dues.

According to the Journal, Senate Minority Leader Mitch McConnell (R-KY.) previously noted that the GOP would not back Democrats in extending the debt limit. McConnell reiterated the same stance on Tuesday.

“This debt ceiling is going to cover all of the things that all of us have been opposing,” he told the Journal, adding that the Democrats “need to do the responsible thing and raise the debt ceiling, because America must never default on its debt.”

Majority of the GOP senators also echo the sentiments of McConnell who suggested to Democrats to boost the debt ceiling by themselves.

“They own it. They control it. They got control of the White House, they got control of the Senate, they got control of the House. They don’t need our help,” Sen. Bill Cassidy (R-LA.) told Insider Monday.

During the Trump administration, GOP Senators planned to increase the debt ceiling.

The emergency cash measures were expected to be drained by the last quarter of this year. Congress would need to do something to avoid a potential economic collapse.

Source: MSN.com