WASHINGTON (TND) — The House and Senate voted to pass the debt ceiling bill with President Joe Biden signing the bill two days before default.
Sen. Rand Paul, R-Kentucky, joined The National Desk’s Dee Dee Gatton to discuss the issue.
“I think the clear loser is the taxpayer and the citizens of the country. I don't think anything about the deal changes the trajectory of accumulation of debt,” he said. “We have a $32 trillion national debt, and in two years, it's going to be 36 trillion. I see nothing fiscally responsible about that.”
The Senate passed the bill last Thursday to raise the debt ceiling. The measure was approved in a bipartisan 63 to 36 vote after passing the house by a wide bipartisan margin and President Biden signed it two days before the default deadline with both sides claiming victory.
“I’m worried about what this does to the country as we begin to continue to pay for debt by having the Federal Reserve print up money that creates inflation and so all the prices rising, it's been going on for the last couple of years, I think continues and will continue until it finally leads us into recession,” Paul said. “So I don't think there's anything good or conservative about the deal. I think what we should do is balance our budget and spend what comes in.”