Steve Bannon slammed House Speaker Kevin McCarthy’s deal with President Joe Biden to raise the country’s debt ceiling as a “total surrender” by Republicans.
Following weeks of negotiations, Biden and McCarthy announced a tentative deal on Saturday night to raise the $31.5 trillion debt limit for two years while also cutting federal spending, just days before the United States is set to default on its commitments—which experts say would have devastating impacts to the global economy. The deal will extend the debt limit until January 2025, cap spending in the 2024 and 2025 budgets, repeal unused COVID-19 relief funds, cut Internal Revenue Service (IRS) funding and add work requirements for food aid programs, CNN reported.
Some conservatives are speaking out against the agreement as McCarthy, a California Republican, aims to pass the bill in the sharply divided House of Representatives. Steve Bannon, a former strategist to former President Donald Trump, said he believes the deal will “condemn the United States to decades of lost economic growth” in an interview with Newsweek on Sunday morning.
Bannon also slammed the bill as a “total surrender” on the part of McCarthy as well as a “total and complete sell out” in a series of Gettr posts after the deal was announced.
www.newsweek.com/steve-bannon-blasts-mccarthys-total-surrender-biden-debt-limit-1803070