Lindsey Graham says China the big winner in McCarthy-Biden debt limit deal

Sen. Lindsey Graham (R-SC) told House Speaker Kevin McCarthy (R-CA) that he thinks China will be the big winner in his debt ceiling deal with President Joe Biden because of "cuts" to the defense budget.

The deal actually increases defense spending 3.2%, but Graham considers that a cut because it is less than the rate of inflation.

Graham pointed out that under the budget deal, the U.S. Navy would have to cut its number of ships from 298 to 291, while China is increasing its number of ships by a third.

"The Biden defense budget was a joke before, and if we adopt it as Republicans, we will be doing a great disservice to the party of Ronald Reagan. The biggest winner of the Biden defense budget is China because they’ll have a bigger navy; and it will be Putin," Graham claimed. "There’s nothing in the budget for Biden to help Ukraine win a war that they’re on the verge of driving the Russians out. So I like Kevin a lot, but don’t tell me that the Biden defense budget fully funds the military."

He compared the deal to Romney's previous deal with Biden when he was a senator, calling it sequestration.

Graham said he wouldn't vote for the deal. "I won't be intimidated by June 5," he said of the Treasury's deadline to avoid default.