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U.S. Congressional Leader Nancy Pelosi had one goal on Capitol Hill today: hold off on a need for a long-term increase in the debt ceiling.
But for her, tax reform’s success, and the amount of money she estimated it would add to the government’s coffers, is more important than raising the debt ceiling again. So, where does that leave those worried about breaching the debt ceiling in coming weeks?
Fox News’ Shannon Bream spoke with FOX News contributor and talk radio host Mike Gallagher to get his take:
(Gallagher) “The responsibility of raising the debt ceiling is more of a political crisis than an economic crisis and Congress would be playing with fire if they continue to try to protect the insurance policies they’ve been given with tax reform, giving them increases in their funding which is relatively insignificant compared to the debt. They have a debt ceiling now and we’re well into the sixth year of it and this talk of debt ceiling is a dangerous sign and I hope that the administration not only get confident that they’re getting to the end of that just to be able to avoid another two years of an economic crisis but also that the Congress gets to the end of that and then finally hikes the debt ceiling in their next term so that when we come out of it, we’re not into the seventh year of it but we’ll have this debt ceiling completely manageable.”
Gallagher was talking about the Republican Party’s recent push to eliminate the debt ceiling to make it more of a downer to vote on.
Click here for more from FOX News Radio’s Shannon Bream.