The Democratic president primarily wants higher taxes on the wealthy to lower deficits; the GOP congressional leader favors sharp spending cuts.
Staring down a fast-approaching deadline to raise the U.S. government’s debt limit, they have to find some version of common ground as they jostle in public over the nation’s $31.4 trillion in red ink. But how can they reconcile their competing visions while also achieving the levels of deficit reduction both say they want?McCarthy wants House Republicans to vote this week on a proposal that would shave an estimated $4.
“We’re not going to negotiate on something that they should be doing, which is avoiding default,” Jean-Pierre said. “But when it comes to the budget, when it comes to how they want to see spending cuts for the American people, we will have that discussion.”On Monday, McCarthy’s spokesman, Chad Gilmartin, sent out an email listing quotes from 11 Democratic lawmakers who have suggested talks should start.
Moody’s Analytics on Monday released estimates showing there would by 780,000 fewer jobs at the end of 2024 if the House GOP plan became law. Expected growth in the overall economy would slow to 1.6% from 2.25%. Why does Moody’s Analytics think the Republican cuts hurt the economy? The spending caps would likely cause programs that aid the poor to be slashed. Lower-income households tend to “quickly spend any support they receive from the government,” which then circulates through the economy and supports growth and consumer activity, according to the Moody’s estimates.The problem is that both Biden and McCarthy have declared Social Security and Medicare off limits.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Senate Dems say Biden should talk to McCarthy, but without linking debt ceiling, spending cutsTwo top Democratic senators joined Sen. Joe Manchin over the weekend in calling for President Joe Biden to discuss the debt limit with House Speaker Kevin McCarthy.
Consulte Mais informação »
Biden will veto McCarthy's debt limit package, White House announcesPresident Joe Biden will veto House Speaker Kevin McCarthy's (R-CA) debt limit bill, should it pass both chambers of Congress.
Consulte Mais informação »
Biden will veto US House Speaker McCarthy's debt bill if it passed CongressIf U.S. President Joe Biden were to be presented with Republican House of Representatives Speaker Kevin McCarthy's spending and debt bill, he would veto it, the White House said on Tuesday.
Consulte Mais informação »
Democratic lieutenant governors mobilize cash as early backers of Biden-Harris ticketAn eager bench of Democrats will spend heavily to stake out positions as early supporters of Pres. Biden’s reelection campaign ahead of his expected announcement, which could come as soon as this week.
Consulte Mais informação »
Bernie Sanders endorses Biden, rules out 2024 bid of his ownSen. Bernie Sanders says he is forgoing another presidential bid of his own and endorsing President Joe Biden’s reelection. The leading progressive was Biden’s chief rival in the 2020 Democratic presidential primary. He told The Associated Press on Tuesday shortly after Biden's reelection announcement that he would “do everything I can to see the president is reelected.” He says Democrats should unite behind Biden to prevent “a Donald Trump or some other right-wing demagogue” from seizing the White House. He also discouraged any another high-profile progressive candidates from running against Biden.
Consulte Mais informação »
Why Trump beat Clinton, lost to Biden, and would lose to Biden againA single group of voters decided not only the 2016 election and the 2020 election, but is poised to decide the 2024 election as well. These voters broke for President Donald Trump in 2016, for President Joe Biden in 2020, and they are leaning heavily against Trump in 2024.
Consulte Mais informação »