Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

McConnell Tells Biden Republicans Won’t Cooperate on Debt Limit

Published 10/04/2021, 11:03 AM
Updated 10/04/2021, 11:27 AM
© Bloomberg. Senate Minority Leader Mitch McConnell, a Republican from Kentucky, arrives at the U.S. Capitol in Washington, D.C., U.S., on Thursday, Sept. 30, 2021. President Biden is poised to avoid a disruptive shutdown of the federal government, but deal-making continues on his economic agenda before a planned Thursday vote on an infrastructure package that underscores deep divisions among Democrats.

(Bloomberg) -- Senate Republican leader Mitch McConnell told President Joe Biden he should pressure Democratic leaders in Congress to go ahead and raise the debt limit on their own because the GOP won’t cooperate.

In a letter to Biden Monday, McConnell demanded that the president “engage directly with congressional Democrats on this matter” and said Republicans will not be changing their position.

“Bipartisanship is not a light switch that Speaker Pelosi and Leader Schumer can flip on to borrow money and flip off to spend it,” McConnell wrote, referring to Nancy Pelosi and Chuck Schumer. “Republicans’ position is simple. We have no list of demands. For two and a half months, we have simply warned that since your party wishes to govern alone, it must handle the debt limit alone as well.”

Biden plans to speak on Monday on the need for Congress to address the debt ceiling.

©2021 Bloomberg L.P.

© Bloomberg. Senate Minority Leader Mitch McConnell, a Republican from Kentucky, arrives at the U.S. Capitol in Washington, D.C., U.S., on Thursday, Sept. 30, 2021. President Biden is poised to avoid a disruptive shutdown of the federal government, but deal-making continues on his economic agenda before a planned Thursday vote on an infrastructure package that underscores deep divisions among Democrats.

Latest comments

bullish
Turtle needs to go back in his shell
Moscow Mitch is a pathetic hyper-hypocrite
Way to go!
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.