Wisconsin congressman calls for cuts in debt ceiling debate

MADISON, Wis. — As the deadline to raise the country's borrowing limit looms, U.S. Rep. Bryan Steil joins his fellow Republicans in calling for federal spending cuts before raising the debt ceiling. 

"We're going to have an opportunity here to raise the debt ceiling responsibly by saving taxpayers money, limiting the growth of future government, and really growing our economy," Steil said. 

"Those are the principles I think all Americans should be able to rally around to make sure that we're being responsible stewards of taxpayer dollars," he added. 

Democrats have largely decried Republicans' move to use the debt ceiling as a bargaining chip, pushing for a clean bill to raise the limit and debating federal spending cuts in separate legislation. 

"We're already starting to see disruptions in financial markets," said Bharat Ramamurti, deputy director for the National Economic Council. "There are harms even getting close to the deadline, we saw that in 2011 the last time that Republicans took the debt ceiling hostage and then pushed us really close to a default."

Steil had applauded President Joe Biden for sitting down with Republicans last week, a meeting that was followed up by another summit this week. Republican leaders walked away from negotiations Friday, however, saying that Biden was asking for unreasonable requests. 

"At a minimum, we should be able to dig into the federal budget and find savings," Steil said. "The President's original position was that he couldn't find $1 of savings, I personally view that is pretty reckless."

"There's a big gulf between the two parties, visions on where we go from here," Ramamurti said. "But one thing that the president is clear about is that we can and should be addressing our deficit, we just have to do it in a very responsible way that doesn't take a hammer to middle class programs."

"[U.S. Treasury Secretary Janet] Yellen has said, we have until about June 1 to make sure that we do not default so we need an answer to this as soon as possible," he added.