Senate Minority Leader Mitch McConnell offered Democrats on Wednesday a short-term solution to avoid having the U.S. default on its debt, which would tank the economy.
McConnell noted in a statement that Senate Republicans have warned Democrats for nearly three months that they would need to use the reconciliation process to raise the debt limit because Republicans do not support Democrats’ extreme agenda.
“Instead, they drifted to the doorstep of yet another self-created Democrat crisis,” McConnell said. “Whether through miscalculation or a deliberate effort to bully their own members into wrecking the Senate, top Democrats have risked adding a default crisis to the inflation crisis, border crisis, and Afghanistan crisis they have already created.”
McConnell offered a short-term suspension of the debt ceiling for several weeks to avoid sending the country into default. This offer will also force Democrats to pass a permanent solution on their own when the suspension ends in December.
“Republicans remain the only party with a plan to prevent default,” McConnell continued. “We have already made it clear we would assist in expediting the 304 reconciliation process for stand-alone debt-limit legislation. To protect the American people from a near-term Democrat-created crisis, we will also allow Democrats to use normal procedures to pass an emergency debt limit extension at a fixed dollar amount to cover current spending levels into December.”
“This will moot Democrats’ excuses about the time crunch they created and give the unified Democratic government more than enough time to pass standalone debt limit legislation through reconciliation,” the statement added. “Alternatively, if Democrats abandon their efforts to ram through another historically reckless taxing and spending spree that will hurt families and help China, a more traditional bipartisan governing, conversation could be possible.”
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