As House Republicans wrangle cuts, one commentator claimed that former President Donald Trump never had to negotiate cuts.
The passage of the 'Limit, Save, Grow Act' plan on Wednesday detailing what actions House Republicans want to see before agreeing to raise the federal debt limit leaves President Joe Biden with precarious economic decision-making.For months, House Speaker Kevin McCarthy has demanded that Biden meet with him to negotiate a plan to cut the nearly $31.5 trillion federal deficit in order to secure a GOP commitment to raise the debt limit. Without an agreement, the U.S.
Whereas the cuts negotiated in 2019 were not linked to the threat of a default, the difficulty that Biden faces with McCarthy is that by choosing to veto the bill, the government could risk defaulting on the debt, which might have catastrophic effects on the U.S economy.Jacobson told Newsweek that the cuts in the 2019 bill were part of a 'broader budget deal on government spending levels that also raised the debt limit.
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