MNUCHIN: I am '100% confident' the debt ceiling will be raised in time

Steve Mnuchin (R), during last year’s presidential election campaign. Photo: Drew Angerer/Getty Images

US Treasury Secretary Steven Mnuchin forcefully said Friday that the debt ceiling “will be raised” before the federal government hits its borrowing limit.

“The most important issue is that the debt ceiling will be raised in September,” Mnuchin said. “I’ve had discussions with leaders in both parties in both the House and Senate and we are on the same page: The government intends to pay its debts, and the debt ceiling will be raised.”

Mnuchin also said he was “100% confident” the limit would be raised, saying there is “no scenario where the government will not be paying its bills.”

The strong comments came after Mnuchin and Senate Majority Leader Mitch McConnell said Monday at a joint event that the debt ceiling would be raised. House Speaker Paul Ryan also guaranteed an increase during an interview with CNBC on Thursday.

President Donald Trump attacked Ryan and McConnell via Twitter on Thursday for not attaching the debt ceiling increase to a recently passed bill that overhauled the Department of Veterans Affairs. He blamed them for creating a “mess” around the negotiations.

When asked about the tweets, Mnuchin said the president was simply talking about Congress’ busy schedule.

“There’s a lot to do in September, we have the debt ceiling, we have the continuing resolution to fund the government, we have a budget, so Congress has a lot of work this month and I know the president and I wished they raised the debt ceiling before they left,” Mnuchin said.

Members of Congress are currently on a month-long recess and will return in early September.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.