46 Senate Republicans sign pledge circulated by Ron Johnson to not aid Democrats on debt ceiling, raising prospects of default showdown

According to The Wall Street Journal, nearly all GOP senators have vowed not to assist Dems in raising the debt ceiling.This decision sets off a fight between Democrats and Republicans about who is responsible for avoiding default.10 Things in Politics: Get the latest news in politics and economics Loading... Click Sign up to receive marketing emails and other offers from Insider.Nearly all Republican Senators have joined forces to push Democrats to raise their debt ceiling, increasing the chances of a default.The Wall Street Journal reported that 46 out of 50 Republican Senators signed a pledge stating that they would not assist their political counterparts in raising the debt limit. This could be a problem for Democrats hoping to pass a budget worth $3.5 trillion.According to Republican Senator Ron Johnson of Wisconsin, "They shouldn’t be expecting Republicans raise the debt limit to accommodate their deficit spending."The Wisconsin senator received the signatures during a "vote-arama" as Democrats were poised for a $3.5 billion budget resolution.The letter stated that "We should never default on our debts in any circumstance." "If Democrats threaten to default, it will be because they refuse vote for the debt ceiling rise necessitated through their own irresponsible expenditures."To sign on to a debt-ceiling hike in the 50-50 Senate, Democrats must have at least 10 GOP senators. This doesn't allow for new spending, but allows the Treasury Department instead to pay the government's bills through issuing new debt.After being suspended by a 2019 law, the debt limit was reinstituted at $28.5 trillion on August 1. The Treasury Department is currently paying the government's bills. This is known as "extraordinary actions". However, its emergency cash provisions will run out sometime in the fall. Failure to act by Congress could lead to a catastrophic economic crash.The Kentucky Senate Minority Leader Mitch McConnell had indicated previously that Republicans wouldn't help Democrats raise the debt limit. He was retracted his statement on Tuesday, The Journal reported. In the past, Senate Republicans had agreed to raise the debt limit under President Donald Trump. But now they say that the responsibility should be shared with Democrats.McConnell stated that the debt ceiling will cover "all of the things we have been opposed to," McConnell said to the Journal in an interview. McConnell also added that Democrats must "do the responsible thing" and raise the debt limit, as America cannot default on its debt.McConnell is being urged by most Senate Republicans to lift the debt ceiling. They own it. It is theirs," Senator Bill Cassidy, Louisiana, told Insider Monday. They took control of White House, Senate and House. They don't require our assistance."