+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

MNUCHIN: I am '100% confident' the debt ceiling will be raised in time

Aug 26, 2017, 00:22 IST

U.S. President Donald Trump arrives for a signing ceremony with Treasury Secretary Steve Mnuchin at the Treasury Department in Washington, U.S., April 21, 2017.Reuters

Treasury Secretary Steven Mnuchin forcefully said Friday that the debt ceiling "will be raised" before the federal government hits its borrowing limit.

Advertisement

"The most important issue is that the debt ceiling will be raised in September," Mnuchin said. "I've had discussions with leaders in both parties in both the House and Senate and we are on the same page: The government intends to pay its debts, and the debt ceiling will be raised."

Mnuchin also said he was "100% confident" the limit would be raised, saying there is "no scenario where the government will not be paying its bills."

The strong comments came after Mnuchin and Senate Majority Leader Mitch McConnell said Monday at a joint event that the debt ceiling would be raised. House Speaker Paul Ryan also guaranteed an increase during an interview with CNBC on Thursday.

President Donald Trump attacked Ryan and McConnell via Twitter on Thursday for not attaching the debt ceiling increase to a recently passed bill that overhauled the Department of Veterans Affairs. He blamed them for creating a "mess" around the negotiations.

Advertisement

When asked about the tweets, Mnuchin said the president was simply talking about Congress' busy schedule.

"There's a lot to do in September, we have the debt ceiling, we have the continuing resolution to fund the government, we have a budget, so Congress has a lot of work this month and I know the president and I wished they raised the debt ceiling before they left," Mnuchin said.

Members of Congress are currently on a month-long recess and will return in early September.

NOW WATCH: We went inside the Charlottesville winery Trump bragged about during the press conference

You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article