Sen. J.D. Vance (R-OH) criticized President Joe Biden for refusing to negotiate on the current state of the debt plan, saying Biden is playing “Russian roulette with the country’s finances.”
Vance’s remarks came during a press conference with Senate Republicans on the same day the White House posted a report about the potential economic impacts if Congress fails to act on the debt ceiling.
House Speaker Kevin McCarthy (R-CA) recently passed a bill to raise the U.S. debt ceiling, hoping Biden would settle a deal.
"Not only did we show you a plan, we're the only ones to *pass* a plan — so I think it's up to you now," @SpeakerMcCarthy says of Biden.
"Republicans raised the debt limit. You have not. Neither has Schumer." pic.twitter.com/JLC8ddUahk
— RNC Research (@RNCResearch) April 26, 2023
“House Republicans have done something very simple but, I think, very profound: They’ve advanced a program that pays the country’s debts while putting the country on a more sustainable path financially,” Vance said at the conference. “And what Joe Biden has done is refuse to negotiate from the very beginning.”
In a report, called “The Potential Economic Impacts of Various Debt Ceiling Scenarios,” the White House warned that a recession could occur if lawmakers fail to raise or end the debt ceiling, putting the country in worse economic shape since 2008.
“While policy makers have thus far, in the long history of our Nation, avoided inflicting such damage on the American and even global economies, virtually every analysis we have seen finds that default leads to deep, immediate recessionary conditions,” the report stated.
The White House report states that inaction concerning the debt limit could increase borrowing costs to taxpayers and hurt the U.S.’s economic confidence.
“I guarantee you: All 217 Republicans who voted for it didn’t like at least one thing in the package, but they came together because paying the country’s debts and doing our job as leadership is more important than any single person,” Vance said.
Vance denounced Democrats’ inaction over the debt ceiling in previous months, saying that the GOP is asking for bipartisanship to get the country’s economy back on track.
“The irresponsible thing is to do nothing, which is unfortunately exactly what the Democrats are proposing,” Vance said on Fox in February 2023.
While Republicans criticize the Biden administration for withholding negotiations, the White House has opposed the current debt plan proposal.
“Joe Biden should take a cue from congressional Republicans,” Vance said. “Show some leadership; come to the table. The country needs him to do exactly that.”
