Barely a week before the June 5 deadline to prevent a federal default that some claim could be damaging to the U.S. and world economies, President Joe Biden and Republican House Speaker Kevin McCarthy announced that they had reached a deal to raise the federal debt ceiling.

The deal, however, includes compromises that are likely to be rejected by both those on the further left of Biden's party and those further to the right of the House speaker.

The challenge, therefore, will be to get the bill passed by Congress -- and at least one Republican House member has already come out against it, calling it an "insult to the American people."

A deal that doesn’t reduce the deficit or reduce spending.

The DC Swamp on full display! https://t.co/ifOtXuiDj1

— Matt Rosendale (@MattForMontana) May 28, 2023

Montana's Rep. Matt Rosendale issued a statement on the proposal -- which he called the "Fiscal Irresponsibility Act" late Sunday.

“The D.C. Swamp has proposed the largest debt ceiling increase in our nation’s history, adding $4 trillion to the existing $31 trillion national debt,” Rosendale said in the statement. "The Fiscal Irresponsibility Act fails to cut spending and continues to fund the Democrats’ and Biden Administration’s radical agenda.

"It is frankly an insult to the American people to support a piece of legislation that continues to put our country’s financial future at risk. Montanans did not send me to Washington to support business as usual, which is why I will be voting AGAINST the Fiscal Irresponsibility Act.

"On April 26th, Rep. Rosendale voted in favor of the Limit, Save, Grow Act, which was written to create economic growth while minimizing the damaging inflationary consequences of reckless spending. On May 25th, Rep. Rosendale signed a letter with 34 other House Republicans urging Speaker McCarthy to hold the line and fight for every policy in the legislation.

"The American people expect House Republicans to deliver on the promises made in the Limit, Save, Grow Act and put an end to Washington's reckless spending addiction."

Rosendale also included a link to the letter, reproduced below.

"The American people expect us to fight on behalf of every policy in the "Limit, Save, Grow Act" -- each of which was adopted purposefully to create economic growth while minimizing the damaging inflationary consequences of reckless spending," the letter said.

Letter to Speaker by The Western Journal on Scribd

According to the congressman's statement, the current proposal misses the mark on a number of issues the "Limit, Save, Grow Act" calls for, including:

"Full elimination of 87,000 new IRS agents

"Elimination of massive IRA green energy subsidies

"Elimination of the $400 billion student loan redistribution program

"Does not freeze spending at FY2022 levels".

Newsweek reported that McCarthy might need Biden's assistance in getting Democratic support to get the deal passed by the House Rules Committee.

This article appeared originally on The Western Journal.