House Speaker Kevin McCarthy made clear he would leverage his party's majority in the lower chamber to push President Biden to accept spending cuts.
warned Congress that the federal government was in danger of running out of money. The lack of cash would mean that the nation would not be able pay its bills and would default on its debt, potentially sending America’s economy into recession.
made clear he would keep with this trend. Leveraging the House Republican majority, the Californian is pushingto accept spending cuts. The White House said Democrats would not barter over the debt ceiling.
Biden has made clear the trade was a no-go. Still, McCarthy is pressing ahead to rally his party behind the bill. But not every GOP lawmaker is on board. Moderate South Carolina Rep.said “Without exaggeration, America’s debt is a ticking time bomb that will detonate unless we take serious, responsible action,”said at the New York Stock Exchange on Monday, urging Americans to press the White House in negotiating an agreement “that brings spending under control.”
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