(TheRedWire.com) – On Sunday Steve Bannon made a veiled threat against House Speaker Kevin McCarthy regarding the debt ceiling.
Treasury Secretary Janet Yellen has previously stated that according to the latest calculations the United States could be unable to fulfill its monetary duties as early as June 1. If the U.S. defaults on its debts, many experts have warned that the results on the economy could be detrimental. However, Congress has until the end of the month to agree to a debt ceiling increase.
McCarthy, a Republican, has been leading the negotiations about the debt ceiling. However, Congress has not yet reached a deal about increasing the debt ceiling. This is because the Republicans have long maintained that any increase in the debt ceiling should be accompanied by spending cuts. However, the Democrats, who currently have the majority in the Senate and are in control of the White House, have argued that the debt ceiling should be increased without any contingencies.
Bannon, a former strategist to former President Donald Trump, has now warned McCarthy to not make any concessions during the negotiations about the debt ceiling. In a Gettr post, Bannon did not call out McCarthy specifically but stated that the GOP “populist” wing who had brought down past Republican speakers John Boehner and Paul Ryan should not back down during the negotiations about the debt ceiling and spending.
At the same time, McCarthy has managed to get President Joe Biden to agree to discuss possible spending cuts in the next debt ceiling negotiations on Tuesday.
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