Ted Cruz says Biden 'gambling' with American economy with refusal to negotiate on debt limit

Sen. Ted Cruz (R-TX) took President Joe Biden to task on Fox News on Sunday, telling Maria Bartiromo that Biden was "gambling" with the American economy by refusing to negotiate on the debt limit with the Republican-led House.

The current debt limit of $31.4 trillion was reached in January, but default is not expected until sometime this summer.

Republicans in the House have already passed the Limit, Save, Grow Act to raise the debt limit by $1.5 trillion or delay it until March 31, 2024, whichever happens first, in conjunction with cuts and rollbacks to the current budget. Biden and the Democrat-run Senate are refusing to consider the Republican bill or any proposal that includes spending cuts, however.

"The Republicans in the House are responsible, and Joe Biden, what is he saying? He’s saying, 'I will not talk. I will not negotiate. I will not give in on anything, anyhow, anyway,'" Cruz said. "And what is happening is Joe Biden is gambling. Joe Biden needs to stop playing roulette with the American economy and with the American credit limit."

House Minority Leader Hakeem Jeffries (D-NY) called the Republican bill a "ransom note" and defended Biden's budget.

"President Biden has produced a budget. House Republicans produced a ransom note," Jeffries said.