Mitch McConnell tells Democrats not to 'play Russian roulette with the economy' as the GOP plays Russian roulette with the economy
Senate Minority Leader, Mitch McConnell, in Congress. Tom Williams / CQ-Roll Call, Inc via Getty Images
McConnell said "Democrats shouldn't play Russian roulette" with the economy as his party refuses to avert default.
"Raise the debt limit and cover whatever you've been doing all year," he told reporters.
There are no signs that the debt brake will be released any time soon.
Check out Insider's business page for more stories.
Senate Minority Leader Mitch McConnell says Democrats are playing a dangerous game of not raising the debt ceiling to avoid defaulting US bills even though he's started.
"My advice to this democratic government, the President, the House of Representatives and the Senate: Don't play Russian roulette with our economy," he said at a press conference on Wednesday. "Stand up and raise the debt ceiling and cover whatever you've been busy with all year."
McConnell is not moved by his refusal to renew the nation's solvency known as the debt ceiling. He vows that even if he says he does not want to, Senate Republicans will not provide the assistance necessary to pass a government bankruptcy measure. It could lead to a financial crisis and plunge the nation into another recession if Congress doesn't act in a timely manner.
"If Mitch McConnell is saying that Democrats shouldn't play Russian roulette on the economy, why did he load the gun?" Zach Möller, economic policy director for the center-left think tank Third Way, told Insider. "He's the one who put the bullet in the gun and put it on the table."
Democrats insist that Republicans must work together in raising the nation's credit ceiling, as they did three times under the Trump administration. "This idea that Republicans are deliberately destroying the economy to advance a political point of view is so dangerous," Connecticut Senator Christopher Murphy told Insider. "We can't do anything about the debt ceiling without it being bipartisan."
The Democrats could raise the debt ceiling by taking a standalone measure alone. But it would take a tedious and lengthy process to complete two voting sessions known as Vote-a-ramas - which is made even more difficult as they would have to approve the move in both the House and Senate while holding a wafer-thin majority keep.
The Treasury Department is taking special steps for the US to keep paying its bills, but they will run out at some point next month. The House of Representatives passed a measure Tuesday to avert both a government shutdown and a debt default on Wednesday night, but the Senate Republicans, led by McConnell, stand ready to sink them in the House of Lords.
House budget chairman John Yarmuth said Monday it could take "at least" two weeks for Democrats to raise the debt ceiling on their own. But his position changed on Wednesday, and he told reporters that his staff had concluded that there was not enough time to get this done.
"Parliamentary obstacles prevent us from changing this reconciliation law or from tackling the debt ceiling through reconciliation," Yarmuth said in a statement to Insider. "The House of Representatives only passed a bill last night to suspend the debt ceiling and keep the government open. The ball is now in front of Senator McConnell."
He went on: "If he doesn't support this bill - or at least see to it that it is not filibustered - our country will be insolvent and our government will be closed. The decision now rests with him."
Read the original article on Business Insider
In this article:
You should check here to buy the best price guaranteed products.
How long does it take to charge an electric car? It depends.
Netflix unveils Ozark final season premiere date alongside new footage
Boris Johnson woos investors at London summit
Russia cannot block Ukraine's NATO aspirations - U.S.
Travis Barker, Kourtney Kardashian engagement gets reaction from drummer’s ex-wife
Meet the designer behind Vavvoune's beautiful handbags