McConnell not ‘concerned’ debt limit fight will spark financial crisis
Virginia Aabram
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Senate Minority Leader Mitch McConnell (R-KY) said he was not concerned about the debt ceiling fight brewing in Congress as House Republicans vow not to agree to raise the borrowing limit without spending cuts.
“The very basic business of funding the government, it’s become very controversial in my party. And, in fact, I was the only Republican in the Kentucky delegation who actually voted for the omnibus appropriation bill that you read about back in December,” the senator said Thursday at the University of Louisville, where he attended an event focused on disaster relief.
LAWMAKERS HEADED FOR A BIG PARTISAN STANDOFF OVER THE DEBT LIMIT IN 2023
“Periodically, the debt ceiling has to be lifted, and it’s always a rather contentious effort. In the end, I think the most important thing to remember is that America must never default on its debt. It never has and never will,” he said in a Q&A portion after his address. “But we’ll end up in some kind of negotiation with the administration over what circumstances or conditions under which the debt ceiling will be raised.”
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He assured reporters that he “would not be concerned about a financial crisis” amid the negotiations. The Treasury Department announced that the United States had hit its borrowing limit Thursday and would begin “extraordinary measures” to keep making interest payments and funding domestic spending.