Biden criticized Republicans for being “fiscally insane” in the race for the debt ceiling

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WASHINGTON (Nexstar) – If Congress does not vote to raise the debt limit, the government will run out of money to meet its obligations, as Republicans say they will not vote to raise the limit until their demands are met. not satisfied.

Republicans say government spending is out of control and demand cuts in government spending to increase the debt ceiling.

On Monday, President Biden criticized House Republicans who said they would block an increase in the debt limit if their demands were not met.

“These guys are financially insane, I think. They don’t understand at all,” Biden said.

“When Republicans say we’re not going to pay our bills, that means we’re not going to pay people who get Social Security,” said Rep. Teresa Fernandez (R-NM).

In a letter to lawmakers last week, Treasury Secretary Janet Yellen warned that the United States could reach its debt ceiling on Thursday. He said the government has begun implementing emergency measures to continue paying its obligations, including health insurance, veterans’ benefits and military salaries.

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