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Friday, May 24, 2024

Debt ceiling deal won't deliver on inflation or America. Senate must scrap it

While I made it clear this week that I do not support the debt ceiling deal, I believe Speaker Kevin McCarthy and our House Republican negotiators gave it their best against a president who does not care about how the inflation he created, retirement concerns and medical bills are causing havoc on families all across this country. 

It’s OK to acknowledge that the deal being voted on this week may be the best that could be done with this president who refused to negotiate or even discuss this issue for months. But that acknowledgment must come with a second part: This legislation will only bury us deeper in debt and won’t actually deal with the raging inflation that is hurting every American family.

Biden-McCarthy debt bill 'the best we can get' while Dems control White House, Senate: Sen. Markwayne Mullin Video

Now conservatives in Congress have a choice. We can either do business with the devil knowing this debt ceiling bill will not slay inflation, reduce retirement concerns or medical bills. Or, we can say now is the time to live within our means and stop inflation in its tracks. 

If the time to say no is not today, when is it? Is it when we hit $40 trillion in debt, mortgage rates climb north of ten percent and credit card interest rates go over 30%? I say no, that would be far too late. 

I am a businessman who has negotiated a lot of deals. In every deal, you have to say no at some point. Maybe this is the time all Republicans need to say no.

When we say no to more debt, we are telling all American families we know inflation is too high and is caused by a federal government that cannot live within its means. By saying no to more debt, we are telling American families we know medical bills are too expensive, along with gas, groceries, college and rent. By saying no, we can force elected leaders to make choices like all American families do. 

Sen. Mike Lee goes off on debt bill: We 'capitulated' Video

 Biden will not acknowledge what his reckless spending is doing to the American family. Inflation is causing American families to make tough choices. Inflation and mortgage rates are making housing unaffordable. Interest expense is eating up the federal budget, crowding out military spending when Communist China is building a military to defeat us. 

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So if our only two options are to make the tough choices to balance our budget or pass this bad bill, the decision is easy. 

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Let’s do the hard work and make the tough choices so American families can realize the dream that has made our great nation the greatest place for opportunity on Earth. 

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