May 28, 2024

Biden to Address Debt Limit and Budget, Condemns Republican Spending Plan

President Joe Biden delivers remarks on lowering healthcare costs, Tuesday, September 27, 2022, in the Rose Garden of the White House. (Official White House Photo by Adam Schultz)

White House Press Secretary Karine Jean-Pierre announced on Wednesday that President Biden will reiterate the need for Congress to act on the debt limit next week. The President will also discuss initiating a separate process to address the budget and appropriations, welcoming a conversation about spending priorities while reining in wasteful spending.

According to Jean-Pierre, the President has already cut the deficit by $1.2 to $1.7 trillion, with his budget achieving a deficit reduction of $3 trillion over the next 10 years. The President’s commitment to cutting wasteful spending is evident through his efforts to cut oil and gas subsidies and save taxpayers hundreds of billions in prescription drug costs.

However, MAGA Republicans in Congress have taken the opposite approach, protecting wasteful spending for Pharma, Big Oil, and other special interests. Their spending proposal, the Default on America Act, would hurt veterans and devastate federal and local law enforcement. The bill aims to cut 81,000 jobs from the VA, reduce outpatient visits by 30 million, and increase the disability claims backlog by an estimated 134,000, Jean-Pierre said.

She emphasized that the Republican spending plan reveals their priorities lie in tax giveaways to the rich rather than supporting law enforcement who keep communities safe.

Meanwhile, the Biden-Harris administration announced a new package of security assistance to help Ukraine defend itself against Russian aggression. The package includes more ammunition for U.S.-provided HIMARS, additional howitzers, artillery and mortar rounds, and anti-armor capabilities.

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