Will Congress and the White House Reach a Deal on the Debt Ceiling?

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House Republicans are pushing for less spending as a condition of raising the debt ceiling, but the White House has said it would not negotiate. See potential bias and similarities in coverage from NBCNews, axios and dcexaminer: DebtCeiling

House Speaker Kevin McCarthy is pushing for controls on federal spending as a condition of raising the debt ceiling, but the White House has said it would not negotiate. White House Press Secretary Karine Jean-Pierre said Friday that Congress must raise the debt ceiling “without conditions” to avoid defaulting on the government’s debt, adding, “There’s been a bipartisan cooperation when it comes to lifting the debt ceiling, and that’s how it should be.

economy, the livelihoods of all Americans, and global financial stability.” Yellen said the U.S. would hit the current $31.4 trillion debt limit on Thursday, January 19, but the Treasury could use emergency measures to prevent a default until early June. However, House Republicans see this as an opportunity to rein in deficit spending; talking to reporters, McCarthy compared the practice to a child using a credit card.

Source: Loan Digest (loandigest.net)

 

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