Donald Trump criticized Kevin McCarthy’s choice to extend the debt ceiling, calling it a major political mistake.
Key Facts:
– Donald Trump called the 2023 debt ceiling suspension “one of the dumbest political decisions in years.”
– He acknowledged McCarthy as a friend but insists the move gave Republicans “nothing in return.”
– Trump wants the debt ceiling raised before he takes office to avoid blame if problems arise in 2025.
– Republican leaders, including Rep. Chip Roy, point out that only a fraction of House GOP members voted against the extension.
– Treasury Secretary Janet Yellen predicts extraordinary measures will be needed by mid-January 2025 if Congress fails to act.
The Rest of The Story:
In 2023, Congress and President Joe Biden agreed to suspend the debt limit until January 1, 2025.
This means the nation’s borrowing limit would reset just two weeks into the new administration, forcing a quick showdown if no deal is struck sooner.
McCarthy supported the arrangement when he was Speaker, which Trump believes was a short-sighted strategy.
Trump likened the situation to a looming crash, warning that Democrats would prefer the GOP to inherit the crisis.
Several Republican lawmakers, including Rep. Chip Roy, have also expressed regret, noting that only a small group of Republicans stood against the extension at the time.
‘Extraordinary measures’ needed by mid-January to keep US from defaulting on national debt, Treasury Secretary Janet Yellen warns Congress https://t.co/opcMIySwdD pic.twitter.com/o9mpyAO7tb
— New York Post (@nypost) December 28, 2024
Commentary:
Trump has a point. McCarthy’s choice to push the debt ceiling fight into the next administration seems ill-advised.
That decision handed future leverage to Democrats and left Republicans with little in return.
It also appears that most House Republicans let this happen.
By going along with the plan, they set up a potential political headache for themselves in 2025.
Trump’s criticisms may be harsh, but they reflect the reality that Republicans gave up a chance to strike a more favorable deal.
The Bottom Line:
Trump is convinced McCarthy’s debt ceiling extension was a serious miscalculation, and many Republicans now share that view.
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The question is whether Congress will act before 2025 to avoid a budget standoff that lands squarely in the GOP’s lap.