Debt: Deal-Yay Or Nay?
“Speaker Kevin McCarthy toiled on Wednesday to lock down the votes to pass his deal with President Biden to lift the debt ceiling and set federal spending limits, as a stream of defections from hard-right lawmakers put the fate of the measure in question.
With the nation’s first-ever default looming in days, the House was on track to begin votes Wednesday afternoon on a plan to suspend the nation’s borrowing limit for two years in exchange for two years of spending caps and a string of policy concessions Republicans demanded.”
The debt deal brokered between the White House and Kevin McCarthy has a lot riding on it and could spell disaster if the unthinkable happens and it does not pass. The international markets and World leaders are paying close attentions to the vote tally this week and both sides of the isle compromised to get this passed but the outer extremes in the GOP may try to sink the whole deal. Unfortunately, routine debt limit fights are becoming all time consuming and draw away from other pressing issues that confront the nation but yet they still drag on.
