The White House on Wednesday gave a chilly reception to an offer from Senate Minority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellOn The Money — Presented by NRHC — Democrats cross the debt ceiling Rubicon Democrats insist they won’t back down on debt ceiling Schumer warns October recess in jeopardy over debt limit fight MORE (R-Ky.) to raise the debt limit for two months to avoid a potential economic crisis.
Press secretary Jen PsakiJen PsakiBiden indicates he would sign reconciliation bill with Hyde amendment Biden national security adviser to meet China’s top diplomat Biden slips further back to failed China policies MORE briefed reporters at the same time some Democratic senators signaled they would accept McConnell’s offer. But Psaki argued a more immediate, long-term solution to raise the debt ceiling would be preferable to what few details were available about the compromise.
“We could get this done today. We don’t need to kick the can. We don’t need to go through a cumbersome process that every day brings additional risks,” Psaki said.
“The preference would be just getting this done today so we can move on to more business for the American people, and that option is still on the table,” Psaki continued. “If we’re looking at the best options, why kick the can down the road a couple more weeks? Why create an additional layer of uncertainty? Why not just get it done now? That’s what we’re continuing to press for, and that’s our first choice.”
McConnell in a statement on Wednesday offered to vote to raise the debt limit to a certain number high enough to cover the nation’s financial obligations until December, at which point the ceiling would again have to be raised.
Sen. Tammy BaldwinTammy Suzanne BaldwinSenate Democrats dial down the Manchin tension Biden sidesteps GOP on judicial vacancies, for now Democrats confront ‘Rubik’s cube on steroids’ MORE (D-Wis.) said accepting the offer would amount to “a temporary victory.”
Sen. Elizabeth WarrenElizabeth WarrenOn The Money — Presented by NRHC — Democrats cross the debt ceiling Rubicon Trump endorses Diehl for Massachusetts governor, slams ‘RINO’ Baker Overnight Energy & Environment — Manchin opens door for .9T to .2T spending bill MORE (D-Mass.) said McConnell had “caved” and that Democrats would shift their focus to passing their agenda.
Republicans had previously been united in opposition to voting to raise the debt ceiling, arguing Democrats should do it unilaterally through reconciliation. But Democrats had largely ruled out that route, setting up a standoff in the Senate.
Lawmakers have until Oct. 18 to raise the debt ceiling or risk a historic default. President BidenJoe BidenBiden announces nominations for Arts and Humanities endowments Biden and Xi agree to abide by Taiwan agreement On The Money — Presented by NRHC — Democrats cross the debt ceiling Rubicon MORE met earlier Wednesday with business leaders to discuss the potential consequences on the economy should the nation default.
“The Senate Republicans’ position, I find not only to be hypocritical, but dangerous and a bit disgraceful, especially as we’re crawling our way out of a pandemic that cost us 700,000 lives,” Biden said.