A default will end Biden's presidential campaign, Gingrich tells Hannity

By Jen Krausz on
 May 24, 2023

Former Speaker of the House Newt Gingrich appeared on Hannity Monday night, praising the job House Speaker Kevin McCarthy (R-CA) is doing negotiating spending cuts for a debt ceiling increase and blaming Biden for any default that might occur if negotiations fail.

Biden has moved from refusing to negotiate to being willing to do so, Gingrich said, because McCarthy seems to be following the plan set forth in Gingrich's new book, March to the Majority.

"Pass the bill, stand firm, be reasonable, but don’t back up," is what Gingrich advises. "Kevin is following the same game plan."

McCarthy's ability to pass legislation that includes a debt ceiling increase has backed Biden into a corner and made it more difficult for him to shirk blame for an eventual default.

"I think if you look at today’s meeting, you look at what has been happening, inch by inch gradually, the Biden team has come to recognize if there is a default, it is going to go down in history as the Biden default. It is going to end his presidential campaign for 2024, and it is unacceptable,” he said. “So he is going to have to get somewhere.”

He said he believed McCarthy could probably get "80%" of what he had proposed, which is not half bad when things started out with Biden unwilling to even negotiate at all.