House Republicans Are the Only Ones Who Have Taken Action to Avoid a Default on Our Debt

Yesterday, Speaker McCarthy met with President Joe Biden, Senator Chuck Schumer, and Senator Mitch McConnell at the White House regarding responsibly raising the debt ceiling.

House Republicans remain the only ones who have passed legislation that would raise the debt ceiling and take default off the table while simultaneously addressing our nation's debt crisis.

MAKE NO MISTAKE: For over 100 days, Joe Biden and Democrats have wasted valuable time refusing to negotiate. Default Democrats own this debt crisis, and they will own a default if they do not come to the table with a serious proposal that limits unchecked spending, saves taxpayer dollars, and grows our economy.

DEBT CEILING NEGOTIATIONS FAST FACTS:

• For over 100 days Joe Biden has refused to offer a sensible solution to avoid defaulting on our debt.
• Every House Democrat voted against raising the debt ceiling.
• House Republicans did their job, but Default Democrats are the ones failing to raise the debt ceiling and are now desperately trying to pass the buck.
• Joe Biden is leaving on Wednesday for Asia while the country is lurching toward default.
• Whether it's the national security and humanitarian crisis at the border, an environmental disaster in East Palestine, or our country's fiscal health, Joe Biden runs from the crises he creates.

JOE BIDEN AND HOUSE DEMOCRATS' FAILED TAX AND SPEND POLICIES CAUSED THIS DEBT CRISIS:

• Since President Biden took office in January 2021, he and House Democrats have increased the 10-year spending trajectory by $10 trillion.
• This includes ramming through their $2 TRILLION so-called "American Rescue Plan" that ignited the highest spike in consumer prices in forty years, including:
  • $400 billion for policies that reduced private sector employment such as expanding unemployment insurance benefits that too often paid Americans to stay home rather than go to work and dismantling the Child Tax Credit by removing work requirements.
  • Billions lost to fraud due to Democrats' rejection of Republican safeguards.
  • Billions in inflationary waste and abuse, including:
• After passing the so-called "American Rescue Plan," Democrats moved on, passing the so-called "Inflation Reduction Act," which included:
• Biden's Executive Actions have totaled OVER $1.5 trillion in spending, including Democrats' student loan giveaway to the wealthy.

BIDEN'S HISTORY OF SUPPORTING DEBT CEILING NEGOTIATIONS:

• 2009: Biden led debt limit negotiations with House Blue Dog Democrats.
• 2011: Biden led debt limit negotiations with House Republicans.
• 2012: Biden said securing a deal with Republicans was a "great honor."
• 2021: Biden hoped for "intelligent and honest conversation" with Republicans on a debt limit increase.

FAST FACTS ON THE LIMIT, SAVE, GROW ACT OF 2023:

• Saves Americans $4.8 trillion over the next 10 years, according to the CBO.
• Ends the era of reckless Washington spending
• Reclaims billions in unspent COVID funds
• Defunds Biden's IRS army
• Repeals "Green New Deal" tax credits
• Prohibits Biden's student loan giveaway to the wealthy
• Strengthens the workforce and reduce childhood poverty

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