Richard Eskow is a freelance writer. Much of his work can be found on eskow.substack.com. His weekly program, The Zero Hour, can be found on cable television, radio, Spotify, and podcast media. He is a senior advisor with Social Security Works.debt ceiling
, an annual financing mechanism House Republicans voted to block unless a freeze was placed on government spending. Biden’s resolve, we were told, was rooted in experience. He was vice president the last time Republicans forced a showdown over the debt ceiling. It shook financial markets, caused the first downgrade in the U.S. government’s credit rating, and led to an agreed-upon $2.1 trillion in spending cuts. AsPresident Barack Obama and Vice President Joe Biden sat by the fireplace in the Oval Office, with their top aides on the couch.
“Happy to meet with McCarthy, but not on whether or not the debt limit gets extended,” Biden said in April. “That’s not negotiable.”The latest round of negotiations took place on Monday, May 22.future spending,. But it’s hard to keep making that claim when everyone, including your own administration, is stating that the government will default if they don’t reach an agreement soon.