(TheLastPatriotNews.com) – While millions of fiscally conservative Americans disagree, former House Speaker Newt Gingrich praised the debt limit agreement reached by House Republicans, led by Speaker Kevin McCarthy and President Joe Biden, as a “dramatic victory.”
Gingrich expressed his views on social media, describing it as a significant victory. He emphasized that the bill achieved what many thought was impossible, including spending cuts, work requirements, and energy and infrastructure permitting reforms.
The Debt limit deal is a dramatic victory for Speaker McCarthy and House Republicans. Before they passed their history changing bill no one would have believed it possible to cut spending, reestablish work requirements, reform permitting for energy and infrastructure and more
— Newt Gingrich (@newtgingrich) May 28, 2023
The agreement, which involves raising the debt ceiling for approximately the next two years in exchange for spending cuts and other concessions desired by Republicans, follows intense negotiations over several days.
During a brief press conference, McCarthy acknowledged the need to iron out details during the evening and confirmed that the bill’s text would be available shortly.
He expressed his belief that the agreement was in the best interest of the American people, highlighting its historic spending reductions, meaningful reforms that would help individuals escape poverty and enter the workforce, and curbing government overreach. McCarthy clarified that the agreement did not involve new taxes or government programs.
Gingrich had previously urged McCarthy to stay committed to this path and warned that if the U.S. government defaulted on its debt, it would have negative consequences for Biden’s potential 2024 reelection bid.
Negotiators are currently rushing to finalize the details of the bill.
McCarthy announced that the House would vote on the legislation on Wednesday, giving the Senate sufficient time to consider it before June 5. Treasury Secretary Janet Yellen had warned that without timely action from lawmakers, the United States could default on its debt obligations.
As noted at the top, most fiscally conservative Americans disagree that the deal is a dramatic victory as the national debt will rise by trillions more in just the next few years.
What is your opinion? Do you see the agreement between McCarthy and Biden as a “dramatic victory”? Share your view by emailing [email protected]. Thank you.
Former House Speaker Newt Gingrich on Sunday applauded the debt limit deal forged by House Republicans and Speaker Kevin McCarthy (R-CA) with President Joe Biden. https://t.co/Gobqe7YFa0
— Breitbart News (@BreitbartNews) May 28, 2023