The debt ceiling debate is ongoing, and some Republicans are now publicly slamming President Joe Biden's administration for botching negotiations.
GOP Rep. Ben Cline (R-VA), during a recent interview with Maria Bartiromo on Fox Business, torched the Biden administration, likening Biden to a child throwing a fit over the situation.
"What are you expecting from Kevin McCarthy?" Bartiromo said. "What are you expecting this to look like as it plays out? We know that the Biden Administration has yet to come to the table with any ideas of spending cuts."
Cline held nothing back as he took shots at the Biden administration for being "AWOL" on the critically important debate.
"They are AWOL in these negotiations, Maria, and you can’t just sit there like a spoiled child, stomp your feet and say no deal," Cline replied.
He added: "That’s what the president is doing right now. Kevin McCarthy is the adult in the room. He’s coming to New York. He, just as Ronald Reagan did so many years ago, he’s going to be speaking to the New York Stock Exchange. He’s going to be talking about how we have to limit the growth in government. We have to save taxpayer dollars and how we have to grow the economy."
Biden reportedly 'AWOL' in debt ceiling negotiations: Rep. Ben Cline pic.twitter.com/8Bl5siaNI4
— Mornings with Maria (@MorningsMaria) April 17, 2023
"And we have great solutions that we’re putting forward,” he continued. “But the president really needs to engage in this process because our economy and our markets will take a hit if he refuses to deal on this debt ceiling increase," Cline continued.
The U.S. debt ceiling is a legally mandated limit on the amount of money that the federal government is allowed to borrow in order to finance its expenditures.
The debt ceiling has since evolved to serve as a way for Congress to exercise control over the nation's debt, in addition to the annual budgeting process. By setting a cap on the total outstanding debt, the debt ceiling aims to prevent excessive borrowing and ensure fiscal responsibility.
Sometimes, the U.S. may reach the debt ceiling, requiring Congress to either raise or suspend the limit to avoid defaulting on its obligations. Defaulting on the national debt could lead to severe consequences, including increased borrowing costs, a damaged credit rating, and potential harm to the global economy, among other dire consequences.
"The U.S. government's deadline to raise the $31.4 trillion debt ceiling could be sooner than expected, raising the prospect of a short-term debt limit extension, analysts said Tuesday," Newsmax tweeted.
The Treasury Department has warned that the federal government could reach the moment when it will no longer be able to meet its financial obligations as early as June 5, while the nonpartisan Congressional Budget Office has forecast that moment would come sometime between July and September.
It seems like Democrats would want to get with the program on this situation a little faster, as they surely do not want to be blamed for exacerbating an existing U.S. financial system crisis.