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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by TheHill.com:
Speaker Kevin McCarthy (R-Calif.) in an interview on Sunday ahead of talks with President Biden dismissed the idea that the U.S. would default on its debt.
The U.S. hit its technical borrowing limit of around $31.4 trillion earlier this month, but as McCarthy alluded, the Treasury will be able to keep the government’s bills paid until sometime in June. Now, lawmakers must reach a deal to raise the debt ceiling so the government can take on new debt and avoid a default.
But early indications are that Democrats and Republicans are far apart on their demands. The White House and many Democrats want the debt ceiling to be increased with no strings attached. Republicans and a small number of moderate Democrats want the White House to commit to spending cuts before an agreement on the borrowing limit.
“We’re not going to default,” McCarthy told CBS on Sunday. “This won’t come to fruition until sometime in June.”
“There will not be a default,” he continued. “But what is really irresponsible is what the Democrats are doing right now, saying we just raise the limit.”
“The responsible thing to do is sit down like two adults and start having that discussion,” McCarthy added.
“We’re not going to default,” @SpeakerMcCarthy tells @margbrennan when asked if he will guarantee that the U.S. does not default on his watch, but McCarthy does not indicate whether he supports a short-term debt limit extension to September. pic.twitter.com/iIWLKJxJMl
— Face The Nation (@FaceTheNation) January 29, 2023
House Speaker Kevin McCarthy says he wants a "reasonable" debt ceiling deal and that he will meet with Biden on Wednesday https://t.co/dec1ONSVLR
— CBS News (@CBSNews) January 29, 2023
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To get more information about this article, please visit TheHill.com.
If a person ran a business like the government is run, you would be in jail.
No raising of the ceiling! Just cut spending! It’s not difficult. Regular Americans do it all of the time. My income has not increased, but the cost of everything has for the last 18 months. Cuts have to be made, so I make them.
The demorats just want to raise the dept ceiling so they can waste more money
Not waste, but steal more of OUR money. 🤬