Clyburn on Debt Deal: ‘We’ve Found a Very Good Compromise’
Democrat cites Biden's budget director in support for the deal
While many Democratic and Republican members of Congress aren't very happy with the deal President Biden and Speaker Kevin McCarthy struck in order to raise the federal debt ceiling, one senior Democrat — and close Biden ally — seems satisfied.
Biden and McCarthy announced the terms of a deal over the weekend aimed at winning votes in Congress to raise the debt ceiling, and avoid default as well as the wider economic meltdown which would result.
Since the specifics of the accommodation became public, a number of lawmakers from both parties have expressed dismay with them. Democrats typically complain the deal will trim back some of agenda they've enacted over the last two years while Republicans grouse that it doesn't do enough to cut domestic spending.
However, one longtime member of Congress and member of the House Democratic leadership calls the arrangement “a very good compromise.”
The federal government has been one-track to run out of funds needed to pay its bills, which requires an increase in the debt ceiling.
Although Congress has approved an increase in the government's debt limit dozens of times under presidents of both parties in past decades, McCarthy and other House Republicans want to hold such an increase hostage to Biden and Democrats agreeing to a raft of draconian cuts in federal spending.
What was unveiled this weekend is the result, and it won approval from Rep James Clyburn (D-SC), who also is close with the president.
“Number one, the full faith and credit of the United States of America is at stake and we’ve got to keep that protected. Number two, we’ll govern,” Clyburn said. “And when you have two parties — as I've said before, 51 percent of the House is under Republican control, [and] 51 percent of the Senate is under Democratic control, that means that we’ve got to find compromise. And I think that we found a very good compromise.
“I spoke throughout this process with the president and with Shalanda Young,” Clyburn added, referring to Biden's White House budget director. “I’ve never met anyone in government more competent for her work or more compassionate for her cause. And I think that when I saw her giving a big thumbs-up on this deal, I felt that it was incumbent upon me to do what I can to help get it across the finish line.”
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