Sen. Mike Lee: Debt ceiling deal ‘not a victory’

Sen. Mike Lee (R-Utah) said Sunday that the debt deal struck by Speaker Kevin McCarthy (R-Calif.) and President Biden last week to avoid the U.S. defaulting on its debts was “not a victory” for Republicans.

Lee pointed to recent reporting from the New York Times on Fox’s “Sunday Morning Futures” that reported that White House budget director Shalanda Young said Democrats were going to win the debt deal in the “fine print.” He added that the process has “failed” for decades because lawmakers from both sides have not engaged in an “actual compromise.”

“And they’re still claiming victory. This is not a victory. This is capitulation,” he said.

Lee also claimed that the bill will not fix the problem, but instead add more to the national debt. He added that it fails to accomplish any of the “major objectives” Republicans say it would.

“As a result of this deal that they passed this week, over my strong objection, they’re going to perpetuate that problem,” he said. “They’re going to add probably about $4 trillion to the debt over the next year-and-a-half. Could be more than that.”

“And the bill fails to accomplish literally any of the major objectives that they claim it accomplishes,” he continued. “Notwithstanding that, a lot of Republicans voted for it, but, significantly, more Democrats voted for it in the House than Republicans. And more Democrats voted for it in the Senate than Republicans. That tells you about something.”

The debt deal passed Congress last week to avoid a national default and to cap spending, a deal that both McCarthy and Biden have claimed as a victory in a divided government. Despite reaching an agreement, some Democrats and Republicans opposed the deal, arguing that it did not accomplish enough for their respective sides.