President Joe Biden and House Speaker Kevin McCarthy will meet face to face today after a weekend of on again, off again negotiations over raising the nation's debt ceiling.
A look at the negotiations and why they are happening:Once a routine act by Congress, the vote to raise the debt ceiling allows the Treasury Department to continue borrowing money to pay the nation's already incurred bills.
The Republicans say the nation's debt, now at $31 trillion, is unsustainable. They also want to attach other priorities, including stiffer work requirements on recipients of government cash aid, food stamps and the Medicaid health care program. Many Democrats oppose those requirements. Start-stop negotiations were back on track late Sunday, and all sides appear to be racing toward a deal. Negotiators left the Capitol after 8 p.m. Sunday and said they would keep working.
Democrats aren't willing to go that far to cut federal spending. The White House has instead proposed holding spending flat at the current 2023 levels. “A default could cause widespread suffering as Americans lose the income that they need to get by,” she said. Disruptions to federal government operations would impact “air traffic control and law enforcement, border security and national defense, and food safety.”Some Democrats have proposed that they could raise the debt ceiling on their own, without help from Republicans.that says the validity of the public debt in the United States “shall not be questioned.
It’s a cumbersome legislative procedure, but Jeffries urged House Democrats to sign on to the measure in hopes of gathering the majority needed to trigger a vote.
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