The president and top congressional Democrats used the gathering in the Roosevelt Room at the White House to project a unified front against Republicans who are threatening a showdown over raising the nation's borrowing authority.
The coming showdown has a familiar precedent - a little more than a decade ago, a new generation of “tea party” House Republicans swept to power, eager to confront the Obama administration to slash federal spending and curb the nation's ballooning debt load. As vice president at the time, Biden was central to those negotiations, but the House Republicans and the White House could never strike a deal, causing a fiscal crisis.
Senate Republican leader Mitch McConnell said Tuesday, “I think it is entirely reasonable for the new speaker and his team to put spending reduction on the table.” “The time for arbitrary and unscientific pandemic protocols should be far behind us,” said freshman Rep. Nick LaLota, R-N.Y. “I am forgoing a historic trip to the White House to raise awareness of this punitive policy in hopes that President Biden will reverse it and other arbitrary, outdated, and unscientific restrictions across the federal system.”
The 2011 negotiations centered around a $1-for-$1 tradeoff of spending cuts for new debt, but the sides could never agree to the size and scope of reductions in federal health care, military, infrastructure and other accounts. So far, the Biden administration has refused to engage with House Republicans.
Source: Loan Digest (loandigest.net)
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