Shortly, President Biden will sit down with House Speaker Kevin McCarthy and other Congressional leaders, to discuss raising the debt ceiling. He has mulishly insisted that he will only accept a so-called"clean" increase in the amount of money the federal government can borrow and will not allow a hike to be tied to spending cuts.
Most probably he will stick to his guns, lecturing GOP leaders on the need to pay for programs that Congress has already approved. The president might promise to lower spending in next year’s budget, but McCarthy won’t fall for that. He witnessed how Biden guaranteed, D-W.Va., permitting changes in return for signing onto the Inflation Reduction Act but then welched on the deal.
Biden and his fellow Democrats imagine this is a winning situation for them. They have been blanketing the airwaves with dire forecasts of global economic turmoil if the U.S. fails to pay its obligations, ready to blame any delay on GOP intransigence. announced recently that the so-called"X" date by which the U.S. will run out of money had moved up to June 1. She told ABC News over the past weekend that a default on U.S.
Incredibly, this will be the first time Biden has communicated with the Speaker of the House since February. Instead of trying to negotiate a path forward, Biden has denounced proposals advanced by the House as the work of"extreme MAGA Republicans."