Steve Forbes to Newsmax: Biden Needs to Stop Debt Ceiling Game
Steve Forbes, chair and editor-in-chief of Forbes Media, told Newsmax that President Joe Biden needs to stop playing games with congressional Republicans on the debt ceiling.
Joining “Rob Schmitt Tonight” on Monday, Forbes praised House Republicans for their Limit, Save, Grow Act of 2023 and condemned the Biden administration for obfuscating calls to negotiate further.
And while the Wall Street expert parroted Treasury Secretary Janet Yellen in saying that Congress must solve the crisis, he argued House Speaker Kevin McCarthy and his Republican conference already answered with the proposal.
“Well, the fact of the matter is, she’s right that Congress has to take its responsibility,” Forbes said of Yellen’s recent comments on ABC News’ “This Week with George Stephanopoulos.”
“That’s exactly what the House of Representatives did, passing a very straightforward and good bill — very reasonable bill,” he continued. “And the president well knows there have been numerous negotiations in the past on raising the debt ceiling [where] they come to an agreement.”
Forbes then slammed the White House for rumors that Biden is considering invoking the 14th Amendment to avoid a debt default, with reports circulating that even some on his team are weary of the potential move.
“The idea that he’s going to have a credit card in perpetuity is nonsense,” Forbes emphasized. He also noted that “Congress has the Constitution and precedent on its sides.
“I wish the president would stop this dangerous game. And if he can’t negotiate, get somebody in there that’s got the authority to do it,” the executive added.
His comments arrive as the Democratic-controlled Senate and the Republican-led House have been at a standstill regarding the ceiling, with most Democrats demanding a clean proposal and most Republicans calling for cuts.
On Tuesday, McCarthy is preparing to visit the White House to discuss the topic further.
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