President Joe Biden and House Speaker Kevin McCarthy have met for more than an hour at the White House, aiming to avert a national debt limit crisis
“No agreement, no promises except we will continue this conversation,” McCarthy told reporters outside the White House.The House speaker arrived for the afternoon session carrying no formal GOP budget proposal, but he is laden with the promises he made to far-right and other conservative Republican lawmakers during his difficultHe vowed then to work to return federal spending to 2022 levels — an 8% reduction.
The nation is heading toward a fiscal showdown over raising the debt ceiling, a once-routine vote in Congress that has taken on oversized significance over the past decade as the nation's debt toll mounts. Newly empowered in the majority, House Republicans want to force Biden and Senate Democrats into budget cuts as part of a deal to raise the limit.reaching the limit of its borrowing
Still, McConnell is doing his part to influence the process from afar, and nudging Biden to negotiate. Such mainstay programs, along with the Medicaid health care system, make up the bulk of federal spending and are politically difficult to cut, particularly with a growing population of those in need of services in congressional districts nationwide.
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