“I’m glad we finally got there,” Young said of the debt deal she helped broker. “But we have warned against this brinksmanship. It’s bad for the country. It’s bad for the global economy.”
Negotiations over the bill were contentious, and the agreement President Joe Biden reached with House Speaker Kevin McCarthy divided members within their parties, with both those on the far right and the far left opposing it. Biden signed the legislation Saturday after the House approved it Wednesday and the Senate approved it Thursday.
Since its passage, members of Congress have disagreed as to which party the bill most benefited, with members on both sides claiming victory in the months-long battle over raising the ceiling.
The goal, however, was not “who can win,” Young said, but to avoid default.
The White House wanted “to make sure we got nothing close to what you saw in the House Republican bill,” and in that effort, they succeeded, Young said. But the end result was not a victory for Democrats or Republicans, but “a reasonable bipartisan agreement you would expect to see in [a] divided government.”