'There are many in the Republican Party, unfortunately, who want to crash the economy,' Progressive Caucus Chair Pramila Jayapal told reporters on Wednesday

House Democrats insist that their GOP counterparts are not negotiating in good faith and want the nation to default on $31trillion in debt because they believe it would help them electorally.   

‘There are many in the Republican Party, unfortunately, who want to crash the economy,’ Progressive Caucus Chair Pramila Jayapal told reporters on Wednesday.

Some in the GOP wants ‘to send this country into chaos and catastrophe and think that maybe it will help their election prospects in 2024 if the country is in chaos,’ she continued. 

Minority Leader Hakeem Jeffries expressed a similar sentiment. 

‘House Republicans are determined to crash the economy, because they believe it will benefit them politically,’ he told reporters. 

Biden used the same talking point over the weekend, saying ‘I think there are some MAGA Republicans in the House who know the damage that it would do to the economy and because I am president, and presidents are responsible for everything, ‘Biden would take the blame.’

‘And that’s the one way to make sure Biden’s not re-elected,’ he continued.

'There are many in the Republican Party, unfortunately, who want to crash the economy,' Progressive Caucus Chair Pramila Jayapal told reporters on Wednesday

‘There are many in the Republican Party, unfortunately, who want to crash the economy,’ Progressive Caucus Chair Pramila Jayapal told reporters on Wednesday

Far-right members of the House GOP have been warning House Leadership not to cut a deal that is less conservative than the Limit, Save, Grow Act Republicans passed in April. 

Progressives have been firing off similar warnings to President Biden’s team. 

This isn’t the first time debt ceiling talks have gone down to the wire.

In 2011, Republicans used the approaching debt limit default to also negotiate for spending cuts. It was a parallel scenario in which Democrats controlled the White House under President Obama and Senate, while Republicans held power in the House.

With only 72 hours to spare, Democrats and Republicans came to an agreement that lifted the debt ceiling by $900billion and cut spending by a similar figure.

‘I think my conservative colleagues don’t feel like we should negotiate with our hostage,’ Rep. Matt Gaetz, R-Fla., told reporters on Tuesday – comments liberals seized on. 

Jeffries was also asked why Democrats had not tried to raise the debt limit last Congress when they had control of the House, Senate and White House. 

‘It’s my understanding that Republicans in the Senate were unwilling to discuss this issue last December,’ Jeffries said. 

Most legislation needs 60 votes to pass the Senate – though Democrats could have tried to push an increase through reconciliation. 

House Democrats, who insist it is their Republican colleagues who are dug in on preventing a deal, are pushing two other pathways to raise the nation’s borrowing limit.

Jeffries has secured the signatures of all 213 Democrats on a discharge petition, and would need the signatures of five Republicans to get a majority and bring a clean debt ceiling bill to the House floor. 

Meanwhile progressive Democrats have been urging the President to invoke authority under the 14th Amendment – which says the validity of the public debt ‘shall not be questioned.’ 

Judiciary Ranking Member Jerry Nadler told reporters the 14th Amendment is ‘constitutionally a good way to go’ but possible legal challenges would roil the markets.

Meanwhile Speaker Kevin McCarthy is insisting it’s not his fault if the U.S. defaults on its debt in eight days when the Treasury says the government will run out of funds to pay its bills. 

‘Every Democrat voted against raising the debt ceiling. Nothing has happened in the Senate. I’m not a senator. I don’t control the Senate,’ the speaker told reporters as negotiations dragged on for another day with no clear sign of progress. 

'House Republicans are determined to crash the economy, because they believe it will benefit them politically,' he told reporters

‘House Republicans are determined to crash the economy, because they believe it will benefit them politically,’ he told reporters

'I think my conservative colleagues don't feel like we should negotiate with our hostage,' Rep. Matt Gaetz, R-Fla., told reporters on Tuesday - comments liberals seized on

‘I think my conservative colleagues don’t feel like we should negotiate with our hostage,’ Rep. Matt Gaetz, R-Fla., told reporters on Tuesday – comments liberals seized on

‘The president – he didn’t talk to us for 97 days. So don’t blame me for reaching out to the Democrats, for begging the president to meet with me.’

The Treasury Department has insisted June 1 is the date when a deal must be reached in order to avoid risking plunging the economy into a global recession. 

McCarthy claimed Republicans have offered a ‘lot of concessions,’ claiming capping spending increases to one percent and strengthening work requirements for welfare programs like SNAP, TANF and Medicare were ‘Democrat ideas.’ 

‘That’s something Senator Biden voted for that President Clinton signed into law. That was a Democrat supported idea too. So it’s not my fault that the Democrats today have become so extreme, far to the socialist wing, that they are now opposed to work requirements. that they are now opposed to saving $1 less than we spent a year before.’

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