Republic Alert

CEOs of Big Banks Should ‘Pressure’ GOP to Cave on Debt Limit

On Thursday’s broadcast of “CNN This Morning,” Democratic California U.S. Senate candidate Rep. Katie Porter (D-CA) stated that if she was meeting with JPMorgan Chase CEO Jamie Dimon, Citi CEO Jane Fraser, and Bank of America CEO Brian Moynihan — as Treasury Secretary Janet Yellen did — she would tell the three bank CEOs “to pressure the Republican officials that they donated to and that they funded to do right by our economy” and pass the clean debt ceiling raise without any spending reforms that Democrats want.

Co-host Poppy Harlow asked, “Okay, so, if you were Janet Yellen and you were meeting with Jamie Dimon, Jane Fraser, and Brian Moynihan today, what would you say?”

Porter responded, “I would tell them to pressure the Republican officials that they donated to and that they funded to do right by our economy. At the end of the day, this is really coming down to are Republicans willing to hijack the economy and harm the American people in order to try to get their political goals across the finish line for our future budget.”

Later, Porter stated that while there may be room for a deal on some of the Republican provisions in the debt ceiling and Biden should negotiate, “rather than having this debate about which thing is more harmful to those who are vulnerable in the country, we have a clearer, better option, which is to raise the debt ceiling. Look, Congress created this debt ceiling by making spending decisions. We have to live by those spending decisions and raise the debt ceiling. If we want to have a debate about future spending, about how we should shape our social service programs going forward, that’s a debate I am ready to have.”

Follow Ian Hanchett on Twitter @IanHanchett

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