Bipartisan effort needed to raise debt ceiling over 230 years.
The US debt has been steadily rising for the past two decades, and is currently at an all-time high of $28.6 trillion. This debt has been accrued by both Republican and Democratic administrations, with President Trump and President Obama having the largest shares of the debt. President Biden has added an additional 11.7% of the debt since coming into office.
Senator Dick Durbin has stated that President Biden should not negotiate with Republicans on raising the debt, instead taking a bipartisan approach. This would involve both parties working together to come up with a solution that is beneficial to both sides. The solution could involve a combination of tax increases, spending cuts, and economic stimulus measures.
It is clear that a bipartisan effort is needed to tackle the US debt. Both parties need to come together and find a way to reduce the debt while still providing economic stimulus and relief to those affected by the pandemic. This will require compromise and a willingness to work together, but it is essential for the long-term health of the US economy.
The US debt is a major issue that needs to be addressed, and it is clear that a bipartisan effort is necessary to find a solution. Both parties need to come together and find a way to reduce the debt while still providing economic stimulus and relief to those affected by the pandemic. With the right approach, it is possible to find a solution that works for both parties and helps to improve the US economy.