Debt Ceiling Standoff: White House, Bipartisan House Group, and Kevin McCarthy's Tightrope Act.
TL;DR Summary
The White House is confident that a doomsday scenario of default can be avoided and holds the upper hand in the political battle over the debt ceiling. House Speaker Kevin McCarthy proposed spending cuts in exchange for a one-year debt ceiling increase, which the White House called a "ransom note." President Biden reminded McCarthy of the GOP's hypocrisy and urged him to take default off the table. The White House is signaling to GOP moderates in the House to vote to cut popular programs at their own risk. The danger of default could grow as the U.S. could hit the debt ceiling in early June.
- How the White House sees its debt ceiling standoff with McCarthy POLITICO
- The Debt Ceiling Debate Is About More Than Debt The New York Times
- Bipartisan House group's debt ceiling plan most promising one yet: Cato Institute's Romina Boccia CNBC Television
- Opinion: If Kevin McCarthy’s tightrope act works, Democrats would face an agonizing choice CNN
- Congress can raise debt ceiling, save social security | Opinion Deseret News
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