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The Situation Room: Rep. Raja Krishnamoorthi, (D-IL) Is Interviewed About Debt Limit Bill

Interview

Date: May 26, 2023
Issues: Foreign Affairs Economy and Fiscal Government Budget and Spending

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Well, I think that the President should always, you know, entertain talks with the speaker, but it's not going to be based on this bill. This bill is dead on arrival. You know, basically, it cuts funding for science, education, health care research, and even renewables, including the electric vehicle tax credits that my constituents and others are relying upon to buy their next EV.

So, this particular bill is going nowhere. But we should extend the debt limit. We should increase the debt limit and pay our old bills. That's what the American people want us to do.

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Sure. And it would obviously, you know, receive a veto from the President as well. So, this is not a serious bill. It's not a bipartisan bill in any way, shape or form.

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I think the American people want us to pass a clean increase in the debt limit. Just to make it very clear, an increase in the debt limit merely authorizes us to pay our old bills for goods and services that were already rendered in the past. That means that if we did not increase the debt limit, we would not pay our bills and it would amount to a national diamond dash. And that would be catastrophic for the full faith and credit of the dollar, and it would nuke our economy.

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I think what it sends is that any kind of use of a nuclear device in South Korea, where we have 28,000 troops deployed, by the way, would merit a response that would be the end of the North Korean regime. So, I think that this is essential. This is just an extension of our mutual defense treaty that we already have in place with the South Koreans. And I think it's prudent.

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I'm not sure. I would hope so, but I'm not holding my breath. I think that his visit to Moscow and his refusal to ask the Russians to basically withdraw from those areas that they've already taken from the Ukrainians and this criminal invasion of Ukraine is a sign of maybe the seriousness of their peace proposals up to this point. All that being said, they do have leverage with Moscow. My hope is that they would use it to, you know, bring Putin to his senses.

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Thank you so much.

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