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Tags: new democrat coalition | debt ceiling | deal | gop | joe biden

New Democrat Coalition Backs Debt Ceiling Deal

By    |   Monday, 29 May 2023 01:46 PM EDT

The New Democrat Coalition leadership backs the debt ceiling deal reached between Republicans and President Joe Biden, the group stated in a tweet Monday.

"New Dem Leadership team supports bipartisan agreement to avoid default, calls for immediate passage in House and Senate to avoid economic catastrophe," the tweet reads.

The group put out a statement declaring that "despite a divided government, President Biden has achieved a bipartisan agreement that protects our nation from economic collapse while preventing cuts to key programs that millions of Americans rely upon."

The statement continued: "Compromise depends on give and take and this bill required concessions from both sides. Defaulting on our debt, as some radical Republicans suggest we should, is not an option — doing so would plunge the United States into an unprecedented crisis that would likely lose up to seven million jobs, wipe out $10 trillion in household wealth, and irreparably damage to the economic and political power of the U.S. dollar on the world stage."

Brian Freeman

Brian Freeman, a Newsmax writer based in Israel, has more than three decades writing and editing about culture and politics for newspapers, online and television.

© 2024 Newsmax. All rights reserved.


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The New Democrat Coalition leadership backs the debt ceiling deal reached between Republicans and President Joe Biden, the group stated in a tweet Monday.
new democrat coalition, debt ceiling, deal, gop, joe biden
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2023-46-29
Monday, 29 May 2023 01:46 PM
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