Republican debt limit bill deserves Biden's fair engagement

needs to uphold his responsibility and meet with McCarthy to forge an agreement to extend the debt ceiling.$4.8 trillion

. Still, we shouldn’t applaud them too much because previous overspending due to COVID-19 alters the numbers. The legislation does cap federal spending, however. And it undoes Biden’s student loan bailout and puts a serious check on Washington’s recent wasteful spending.raises the debt ceiling to ensure the federal government can continue to pay the debt it owes, averting a potential debt crisis.

The last time the nation's credit rating was downgraded was 11 years ago when the government defaulted. Even flirting with a debt default risks another downgrade. Just last week,that"repeated near-default episodes brought on by debt limit debates could erode confidence [in] the U.S. government’s repayment capacity." A government default is more than a political statement - there are market repercussions.

On the other side of Pennsylvania Avenue, they seem to want to play politics. Instead of pushing the Senate to pass a bill, Biden has refused to even discuss spending reforms like the one the House GOP has put forward. Biden knows that this"my-way-or-the-highway" approach is unreasonable – back when he was Sen. Biden, he advocated spending reforms be attached to raising the debt ceiling.

Avoiding a government default must be a top priority for both sides. House Republicans have crafted a plan which serves as a step in the right direction. Now it’s up to Biden and Senate Majority Leader Chuck Schumer to step up.

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