The White House on Thursday dismissed House Speaker Kevin McCarthy's proposal to increase the debt limit and cut government spending, accusing the California Republican of 'holding the American economy hostage.'
said in a statement. “MAGA House Republicans are holding the American economy hostage in order to take a hatchet to programs Americans rely on every day to make ends meet.”released a Republican plan to avoid the U.S. defaulting on its bills, which would cause economic chaos across the globe.‘s plan, the debt limit would increase by $1.5 trillion or until the end of March 2024, depending on which one comes first. The proposal also includes $4.
Mr. Biden has called on Republicans to pass a “clean” debt ceiling, meaning it’s raised with no spending cuts attached. He also refused to negotiate with Mr., meanwhile, wants spending cuts and policy concessions in exchange for raising the debt limit. In her statement, Ms. Jean-Pierre said the GOP plan would kill jobs, take health care away from “millions” of Americans, threaten food assistance and raise energy bills and taxes.
“House Republicans must avoid default and stop playing economic brinkmanship with the American people’s livelihoods and retirements,” she said.
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