The election campaign in the US has been picking up steam. The two parties have already unveiled their nominees for the President who are already showing up their advantages and trying to hook voters. All of them do not miss the opportunity to exploit the burning default issue.
While financial markets and common Americans cheered the last-minute deal on raising the federal debt ceiling, Republican nominee and Florida Governor Ron DeSantis decided to look at the issue from a different angle. The policymaker accused the legislators of their inability to fix the problem instead of accepting fiscal responsibility. Ron DeSantis said that the debt deal would not save the US government from imminent bankruptcy but would compound the prospects. Besides, he roasted the compromise between the White House and Congressional Republicans who decided to increase the limit of borrowings in exchange for budget spending cuts.
“We now see Washington has now cooked up their latest “debt deal”. Our country was careening toward bankruptcy” before the deal was struck,” Mr. DeSantis said at his presidential campaign rally in Iowa, “and after this deal, our country will still be careening toward bankruptcy.”
Eventually, the debt deal was nailed down in Congress and signed into law by the US President. The US government got the green light to borrow another $4 trillion in 2 years ahead. “It took us almost 200 years to get to $4 trillion in debt in the first place. It locks in inflated COVID-era levels of spending. And it keeps 98% of the 87,000 new IRS agents that Joe Biden instituted,” the Presidential nominee targeted the Democrats’ policy.
