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President-elect Donald Trump has criticized former House Speaker Kevin McCarthy, calling the suspension of the debt ceiling approved in 2023 “one of the stupidest political decisions in years.”
But President Trump tempered his criticism by describing McCarthy as a friend and a good person, even as he targeted the former top House Republican.
“The decision by a good man and a friend of mine, the former Speaker of the House, to extend the debt ceiling from this September under the Biden administration to June under the Trump administration will be remembered as one of the stupidest political decisions ever. ‘There was no reason to do it – nothing was gained and we got nothing – the main reason that chairmanship was lost was that it was not our problem and now Now it’s our problem,” Trump declared. post.
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House Minority Leader Kevin McCarthy and U.S. President Donald Trump attend a bill-signing rally with local farmers on February 19, 2020 in Bakersfield, California. (David McNew/Getty Images)
“I call this ‘1929’ because the Democrats don’t care what kind of situation our country is in. In fact, they’re calling the ‘Depression’ as long as it hurts the Republican Party. “Democrats must force a vote.”This dangerous problem should be held accountable now, not in June, but during the Biden administration, not the Republicans! ” he added.
The deal passed by Congress and signed by President Joe Biden last year suspends the debt ceiling until January 1, 2025, but Trump has called for raising it before he takes office.
“In June 2023, the Fiscal Responsibility Act of 2023 was enacted, suspending debt limits until January 1, 2025. New debt limits will be set “at the end of the previous day,” the Treasury Department said. Janet Yellen wrote in a recent letter to Congressional leaders: “Treasury currently expects to reach the new cap between January 14 and January 23, at which point Treasury will need to begin extraordinary measures. We respectfully urge you to act to fully protect the trust and credibility of the United States.”
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Earlier this month, President Trump and Vice President-elect J.D. Vance pushed for an increase in the cap as part of a stopgap government spending plan.
“The stupidest and most incompetent thing Congressional Republicans ever did was allow our country to hit the debt ceiling in 2025,” they said in a statement. “This is a mistake and something we must address now. ” he said. “Raising the debt ceiling is not a great thing, but we would rather do it on Biden’s watch. If Democrats won’t help raise the debt ceiling now, why would they raise it in June under our administration?” Who would think?”
However, the bill that was ultimately passed did not increase the cap.
In response to Trump’s post about McCarthy, Rep. Chip Roy (R-Texas) wrote in a post to Only 71 Republicans voted against it (virtually all of them, especially @freedomcaucus). ”
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Rep. Chip Roy (R-Texas) walks down the hallway during a Republican House meeting at the U.S. Capitol in Washington, D.C., December 20, 2024 (Alex Wong/Getty Images)
“Democrats voted in favor of the latest debt ceiling increase on December 19th: 197-2 against (the cost of supporting Democrats is very high – increased spending and taxes),” Roy added. “Yes, we can and should tackle the debt ceiling. Reconciliation will take place in January with a largely Republican vote, but it will require real and meaningful spending cuts. ”
Alex Nitzberg is a writer for Fox News Digital.
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