President Biden says he 'feels good' about the debt ceiling and budget deal negotiated with House Speaker Kevin McCarthy as the White House and congressional leaders work to ensure its passage this week in time prevent a disastrous US default.
negotiated with House Speaker Kevin McCarthy as the White House and congressional leaders work to ensure its passage this week in time to lift the nation's borrowing limit and prevent a disastrous U.S. default.
"I've spoken to a number of the members," he said, among them Senate Republican leader Mitch McConnell, a past partner in big bipartisan deals who largely sat this one out.To those progressive Democrats raising concerns about the package, the president had a simple message: "Talk to me."As lawmakers size up the 99-page bill, few are expected to be fully satisfied with the final product.
Overall, the package is a tradeoff that would impose some spending reductions for the next two years along with a suspension of the debt limit into January 2025, pushing the volatile political issue past the next presidential election. Raising the debt limit, now $31 trillion, would allow Treasury to continue borrowing to pay the nation's already incurred bills.
At the same time, conservative Republicans including those from the House Freedom Caucus say the budget slashing does not go nearly far enough to have their support.This "deal" is insanity," said Rep. Ralph Norman, R-S.C. "Not gonna vote to bankrupt our country."
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Crucial days ahead as debt ceiling deal goes for vote and Biden calls lawmakers for supportThe White House and congressional leaders are working to ensure passage in time to lift the nation’s borrowing limit and prevent a U.S. default.
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