By Ellen Fike, Cowboy State Daily
U.S. Sen. Cynthia Lummis took to social media on Wednesday to discuss the national debt ceiling, which she doesn’t feel should be raised, as it would just be akin to kicking the can down the road.
This week, Treasury Secretary Janet Yellen warned House Speaker Nancy Pelosi that Democratic leadership should either raise or suspend the debt ceiling as soon as possible, as the nation is in trouble on defaulting on its debt, according to CNBC.
“I wasn’t in office last time we had this fight, but I would have voted no then too,” Lummis wrote on social media Wednesday morning, linking to a Politico article about the situation. “Raising the debt ceiling is just another attempt to kick the can down the road instead of fixing our spending problem.”
Congress raised the debt ceiling in 2017 under former President Donald Trump.
On Friday, Lummis also posted a link to an opinion piece by U.S. Sen. Joe Manchin in the Wall Street Journal, noting why he wouldn’t support spending another $3.5 trillion due to the nation’s rising debt.
“Joe Manchin is right, ‘An overheating economy has imposed a costly ‘inflation tax’ on every middle- and working-class American” and our national debt is the “biggest threat to national security,’” Lummis wrote.
Lawmakers have until some time in October to decide on raising or suspending the debt ceiling.
According to CNBC, the ceiling prevents the U.S. Treasury from issuing new bonds to fund government activities once a certain debt level, or date, is reached.
That level reached $22 trillion in August 2019 and was suspended until the end of July 2021. The Congressional Budget Office estimated in July that the new cap will likely come in just north of $28.5 trillion.