Trump Criticizes McCarthy’s Debt Ceiling Decision

Clear Facts

• Donald Trump criticized former House Speaker Kevin McCarthy for approving a debt ceiling suspension in 2023, calling it “one of the dumbest political decisions made in years.”
• The debt ceiling suspension was enacted through the Fiscal Responsibility Act of 2023, extending the limit until January 1, 2025.
• Trump and Vice President-elect JD Vance are urging for the debt ceiling to be raised before Trump’s administration begins, arguing it should be addressed during Biden’s term.

In a recent critique, President-elect Donald Trump took aim at former House Speaker Kevin McCarthy, labeling the 2023 debt ceiling suspension as a significant political blunder. Despite the harsh criticism, Trump maintained a personal connection with McCarthy, describing him as “a good man and a friend.”

Trump’s dissatisfaction stems from the extension of the debt ceiling, which he believes was unnecessary and unproductive.

“There was no reason to do it – NOTHING WAS GAINED, and we got nothing for it – A major reason why that Speakership was lost. It was Biden’s problem, not ours. Now it becomes ours,” Trump stated emphatically.

The debt ceiling suspension, enacted through the Fiscal Responsibility Act of 2023, is set to last until January 1, 2025. This move, approved by Congress and signed by President Joe Biden, has come under fire from Trump, who insists that the ceiling should be increased before he assumes office.

Treasury Secretary Janet Yellen has indicated that the new debt limit will be established at the beginning of 2025, urging Congress to act swiftly to maintain the nation’s credit standing.

“Increasing the debt ceiling is not great but we’d rather do it on Biden’s watch,” Trump and Vice President-elect JD Vance argued.

“If Democrats won’t cooperate on the debt ceiling now, what makes anyone think they would do it in June during our administration?”

The pair’s concerns highlight the urgency they feel in addressing the debt ceiling issue during the current administration.

Rep. Chip Roy, R-Texas, responded to Trump’s comments about McCarthy, pointing out that the extension faced opposition from a significant number of House Republicans, particularly the Freedom Caucus.

“Sadly, this bad debt ceiling extension was opposed by only 71 House Republicans 18 months ago,” Roy remarked.

The ongoing debate underscores the political complexities surrounding the debt ceiling, with Republicans and Democrats at odds over the best approach to address the nation’s fiscal challenges.

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