Biden 'should not give in to hostage-taking,' said one progressive economist.
Wednesday, the president is"negotiating before the GOP has released" the debt ceiling hostage.
Speaking to reporters at the White House on Tuesday after meeting with House Speaker Kevin McCarthy , House Minority Leader Hakeem Jeffries , Senate Majority Leader Chuck Schumer , and Senate Minority Leader Mitch McConnell , BidenBut the president added that he also"made it clear that we can cut spending and cut the deficit."
Biden offered several examples of what he would prefer to cut, such as"tax subsidies for Big Oil companies" and prescription drug costs in Medicare—budget reforms that progressives support. House Republicans, though, are pushing for far steeper and broader cuts to government spending, specifically demanding a cap on federal spending at fiscal year 2022 levels. Such a cap wouldWhile Biden has
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