Debt ceiling crisis threatens McCarthy's authority.

House Speaker Kevin McCarthy is seeking to pass a bill that would raise the debt ceiling for a year in exchange for deep spending cuts, which Democrats are unlikely to accept. The standoff over the debt crisis is deepening between the Republican speaker and the Democratic president, which could be fateful for the country and both their political careers. The ability of each side to unify their parties and shape public opinion to avoid – or dispense – blame will be crucial. The debt ceiling showdown is important to Biden as he seeks to protect the legislative achievements of his term so far and to portray an image of strength and purpose.