President Donald Trump offered a few words of advice to Republicans in Washington, D.C. this week as speculation has appeared to point toward an imminent deal between Republicans and Democrats on the debt ceiling.
“REPUBLICANS SHOULD NOT MAKE A DEAL ON THE DEBT CEILING UNLESS THEY GET EVERYTHING THEY WANT (Including the ‘kitchen sink’),” Trump said.
He added, “THAT’S THE WAY THE DEMOCRATS HAVE ALWAYS DEALT WITH US. DO NOT FOLD!!!”
Trump’s advice on the “Art of the Deal” in U.S. debt negotiations comes as Joe Biden this week said that there will be no debt default, alluding to an upcoming “agreement” with Republicans that would potentially raise the debt ceiling this summer, per the Associated Press.
Republican Speaker of the House Kevin McCarthy (Calif.) addressed the debt ceiling negotiations on Fox News this week, explaining:
“You can’t keep raising the debt ceiling. It’s like having your child have a credit card, and year, after year, after year, you keep reaching the limit, and you just keep expanding it, expanding it. Well, there comes a point where your credit card now costs you more than all the money you make in a year – bigger than your entire economy. You’re responsible for paying it, but shouldn’t you look [at] how you’re spending the money?”
According to Reuters, U.S. stocks closed a little higher on Thursday amid reports that a U.S. debt ceiling deal could soon be reached in Washington.
Rep. Jim Jordan, R-Ohio, also commented on the debt ceiling negotiations on Twitter, writing, “Joe Biden delayed, delayed, and delayed on the debt ceiling. House Republicans passed a fair bill to solve the problem. But for some reason, Biden and his Democrat cronies still blame us. Ridiculous.”
Per Reuters, the U.S. debt ceiling is currently sitting at $31.4 trillion.