‘Show Me Your Budget': Biden Renews Attack on House Republicans Over Debt Ceiling

‘Show Me Your Budget': Biden Renews Attack on House Republicans Over Debt Ceiling
President Joe Biden delivers remarks on the economy at an International Union of Operating Engineers Local 77 union training facility on April 19, 2023 in Accokeek, Maryland. (Nathan Howard/Getty Images)
Emel Akan

President Joe Biden on Wednesday gave a speech in Accokeek, Maryland, to promote his economic agenda and rally support for it. He began his remarks by criticizing “MAGA Republicans” for standing in the way of his economic vision and threatening to undo all of his policies.

“This ain’t your father’s Republican Party. It’s a different deal right now,” Biden told labor union members at a training facility in Accokeek. “That’s why I’m here today. Because you and the American people should know about the competing economic visions of the country that are really at stake right now.”

Biden reacted to House Speaker Rep. Kevin McCarthy’s (R-Calif.) remarks to Wall Street on April 17, contrasting his agenda to what he called the “MAGA economic vision.”

“Do you think he told the wealthy and powerful it’s about time they step up and start paying a fair share? Not a word,” Biden told the crowd in Maryland. “Do you think he told billion-dollar companies to stop stashing profits in tax havens and shipping jobs overseas? I didn’t hear any of that,” he continued.

“Instead, he proposed huge cuts to very important programs that millions of hardworking middle-class Americans count on ... Folks, this time, the same old trickle-down dressed up in MAGA clothing is worse than ever.”

Biden submitted his 2024 budget proposal on March 9, and has since asked House Republicans to do the same.

“My dad used to have an expression: ‘Don’t tell me what you value. Show me your budget, and I'll tell you what you value.’”

McCarthy blamed Biden for declining to meet during a speech at the New York Stock Exchange on April 17 and accused him of “misleading the public.”

“I want to talk to you about the debate that’s not happening in Washington but should be happening over our national debt. It’s a debate that directly affects the lives of every American,” McCarthy said.

House Republicans on Wednesday introduced legislation to raise the nation’s debt ceiling by $1.5 trillion or until March 31, 2024, whichever occurs first.

McCarthy is expected to bring the bill up for a vote next week. It is unclear whether Republicans can assemble the 218 votes required for passage in the narrowly divided House.

The measure aims to restore discretionary spending to 2022 levels, limit annual spending growth to 1 percent, reclaim unspent COVID-19 relief funds, repeal certain tax credits, reinstate work requirements for public assistance, and remove barriers to domestic energy production.

Meanwhile, the Problem Solvers Caucus, a bipartisan group of lawmakers, released a one-page document that proposes suspending the debt ceiling until Dec. 31, establishing an independent fiscal commission, adopt deficit stabilization controls, and revise the budget process.

The caucus, which is comprised of 31 Republican and 32 Democrat members in the House, has proposed this solution to the debt-ceiling problem if the White House and congressional leaders fail to reach an agreement.

“We’ve seen their one-pager,” White House press secretary Karine Jean-Pierre said during an April 19 press conference. “We have a very close and respectful relationship, a good relationship, with the Problem Solvers Caucus. I just don’t have a reaction to share at this time.”

“Our position continues to be to not negotiate over default. This is something that is the responsibility, the obligation of congressional members. They were able to do this three times in the last administration.”

Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the Biden administration. Prior to this role, she covered the economic policies of the Trump administration. Previously, she worked in the financial sector as an investment banker at JPMorgan. She graduated with a master’s degree in business administration from Georgetown University.
Related Topics