He discussed the debt ceiling and spending cuts.
Speaker of the House of Representatives Kevin McCarthy outlined his plan to cut federal spending and arrange for an increase in the government’s debt ceiling at the New York Stock Exchange on Monday. The U.S. national debt is reportedly at $31.6 trillion, amounting to $94,690 per U.S. citizen, and it continues to grow.
The speaker said a default on the nation’s debt payments sometime this summer will happen without legislation to increase the debt limit and that he will bring a vote to the House floor on a bill to lift the debt ceiling “in coming weeks.” Regarding reckless government spending, Speaker McCarthy stated, “We must change course before it is too late.”
He said that the spending cuts he is proposing would not touch Social Security and Medicare programs.
As the Lord Leads, Pray with Us…
- For Speaker McCarthy to seek God’s direction regarding the nation’s financial situation.
- For wisdom for members of Congress as they consider the increase of the government’s debt ceiling.
- For the representatives of the House as they seek ways to reduce federal spending.
Sources: Newsmax, Wall Street Journal, NY Times
