President-elect Donald Trump took aim at former House Speaker Kevin McCarthy, describing the debt ceiling suspension approved in 2023 as "one of the dumbest political decisions made in years."
But while targeting the former top House GOP lawmaker, Trump tempered the criticism by describing McCarthy as a friend and a good person.
"The extension of the Debt Ceiling by a previous Speaker of the House, a good man and a friend of mine, from this past September of the Biden Administration, to June of the Trump Administration, will go down as one of the dumbest political decisions made in years. There was no reason to do it - NOTHING WAS GAINED, and we got nothing for it - A major reason why that Speakership was lost. It was Biden’s problem, not ours. Now it becomes ours," Trump declared in the post.
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"I call it '1929' because the Democrats don’t care what our Country may be forced into. In fact, they would prefer ‘Depression’ as long as it hurt the Republican Party. The Democrats must be forced to take a vote on this treacherous issue NOW, during the Biden Administration, and not in June. They should be blamed for this potential disaster, not the Republicans!" he added.
A deal passed by Congress and signed by President Joe Biden last year suspended the debt limit through Jan. 1, 2025, but Trump has been calling for the ceiling to be increased before he takes office.
"In June 2023, the Fiscal Responsibility Act of 2023 was enacted, suspending the debt limit through January 1, 2025. On January 2, 2025, the new debt limit will be established at the amount of outstanding debt subject to the statutory limit at the end of the previous day," Treasury Sec. Janet Yellen wrote in a recent letter to congressional leaders. "Treasury currently expects to reach the new limit between January 14 and January 23, at which time it will be necessary for Treasury to start taking extraordinary measures. I respectfully urge Congress to act to protect the full faith and credit of the United States."
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Earlier this month, Trump and Vice President-elect JD Vance pressed for the limit to be raised as part of a stopgap government spending proposal.
"The most foolish and inept thing ever done by Congressional Republicans was allowing our country to hit the debt ceiling in 2025. It was a mistake and is now something that must be addressed," the two men said in a statement. "Increasing the debt ceiling is not great but we’d rather do it on Biden’s watch. If Democrats won’t cooperate on the debt ceiling now, what makes anyone think they would do it in June during our administration?"
But the measure that eventually passed did not raise the ceiling.
Responding to Trump's post about McCarthy, Rep. Chip Roy, R-Texas, wrote in a post on X, "Sadly, this bad debt ceiling extension was opposed by only 71 House Republicans 18 months ago (notably opposed by virtually the entire @freedomcaucus)."
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"Democrats did vote on the recent debt ceiling increase proposal on 12/19: 197-2 against it (their price to support is very high - more spending/taxes)," Roy added. "Yes, we can & should address the debt ceiling - thru reconciliation in January with mostly GOP votes - but with real, meaningful spending cuts."
