President-elect Donald Trump criticized former House Speaker Kevin McCarthy, calling the debt ceiling suspension enacted in 2023 “one of the dumbest political decisions made in years.”
While criticizing the former top House Republican congressman, Trump softened his remarks by characterizing McCarthy as a friend and a decent person.
“The extension of the debt ceiling by a former Speaker of the House, a nice man and a friend of mine, from September of the Biden Administration to June of the Trump Administration, will be remembered as one of the worst political choices in years. There was no motive to do it; nothing was gained, and we received nothing in return, which was a fundamental factor for the Speakership’s loss. It was Biden’s problem, not our own. “Now it’s ours,” Trump said in the post.
“I call it ‘1929’ because the Democrats don’t care what our country is driven into. Indeed, they would prefer ‘Depression’ as long as it harmed the Republican Party. The Democrats must be compelled to vote on this dangerous subject NOW, during the Biden administration, not in June. They should be held accountable for this possible tragedy, not the Republicans!” he continued.
A compromise approved by Congress and signed by President Joe Biden last year delayed the debt ceiling until January 1, 2025, but Trump has called for it to be raised before he takes office.
“In June 2023, the Fiscal Responsibility Act of 2023 was passed, postponing the debt limit until January 1, 2025. In a recent letter to congressional leaders, Treasury Secretary Janet Yellen stated that the new debt limit would be set on January 2, 2025, at the amount of outstanding debt subject to the statutory limit at the end of the preceding day. “Treasury anticipates to reach the new limit between January 14 and January 23, at which point it will be required to begin taking extreme measures. I humbly request that Congress act to safeguard the full confidence and credit of the United States.”
“The most dumb and inept thing Congressional Republicans ever did was allow our country to reach its debt cap in 2025. It was a mistake that needs to be corrected,” the two men said in a statement. “Increasing the debt ceiling is not ideal, but we’d prefer to do it under Biden’s watch. If Democrats refuse to collaborate on the debt ceiling now, what makes anyone believe they will do so in June during our administration?
However, the measure that was approved did not raise the ceiling.
In response to Trump’s post criticizing McCarthy, Rep. Chip Roy, R-Texas, commented on X, “Sadly, this bad debt ceiling extension was opposed by only 71 House Republicans 18 months ago (notably opposed by virtually the entire @freedomcaucus).”
“Democrats did vote on the recent debt ceiling increase proposal on 12/19: 197-2 against it (their price to support is very high – more spending/taxes),” commented Roy. “Yes, we can & should address the debt ceiling – thru reconciliation in January with mostly GOP votes – but with real, meaningful spending cuts.”