House Chief Deputy Whip Guy Reschenthaler, R-Pa., told Newsmax on Tuesday that even though President Joe Biden has not talked with Speaker Kevin McCarthy, R-Calif., about raising the debt ceiling, it might not matter when Republicans pass a plan and send it to the Democrat-controlled Senate, which would then force Biden to the negotiating table.
Treasury Secretary Janet Yellen said in January the deadline for the U.S. to raise its $31.4 trillion debt ceiling is June 5, but the Congressional Budget Office estimated in February the government's ability to borrow using extraordinary measures will be exhausted between July and September. If Congress and the White House can't reach an agreement, the U.S. will no longer afford to pay most of its bills and could lose its reserve currency status.
"Joe Biden is not negotiating," Reschenthaler told "The Record With Greta Van Susteren." "It was weeks ago that he and Speaker McCarthy spoke, but it's going to be irrelevant. Once we put a product in the Senate, once Kevin McCarthy gets a framework passed, which I think that we're closing in on that in the next few weeks, and [Senate Majority Leader] Chuck Schumer has to deal with it, then Biden will be forced to negotiate.
"The fact that Biden is refusing to come to the table, that's what's irresponsible. The responsible, sensible and reasonable thing to do is what we're doing, putting together this framework that looks long-term, raises the debt ceiling so we're not defaulting, we're not losing our reserve currency status — for example, that would be disastrous — but puts us on a path [toward] fiscal responsibility. That's the key."
The House Republican leadership held a conference Tuesday with others in the party to explain the framework that is being proposed. Reschenthaler said he believes the GOP has 218 votes to pass the proposal and send it to the Senate.
Reschenthaler, a member of the House Appropriations Committee, which regulates expenditures of federal funds, said the framework is being done in a "reasonable, responsible and sensible way."
"We cannot continue to increase the debt limit unless we have some reforms," Reschenthaler said. "We've got to do three things with this debt limit. Number one is, we have to limit our future spending. Two, we've got to make sure we save the taxpayers money. And, finally, we've got to grow the economy. The framework that we're working on does all three of those things."
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