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…
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Speaker Seeks Debt Ceiling Meeting with President
Speaker McCarthy hopes to limit government spending. In a letter sent Tuesday to President Biden, House Speaker Kevin McCarthy of California asked for a round of talks to…
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House Speaker Responds to President’s Proposed Budget
White House appears ready to negotiate. President Biden has submitted his budget to Congress. The $6.8 trillion budget addresses four main areas—deficit reduction, lower costs for families, Medicare…
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CBO Director Calls for Cutting Deficit Spending in Half
Debt could stabilize in 10 years. Congressional Budget Office Director Phillip Swagel said that reducing deficit spending by 50 percent, as measured as a percentage of the country’s…
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President’s Budget Includes Tax Increases
Increases focus on the wealthy and big corporations. President Biden promised a budget that would accomplish many things during his State of the Union address last month, including…
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Senate Minority Leader Supports Increased Defense Spending
He responds to some members of Congress suggesting that cuts be made. Senator Mitch McConnell, the chamber’s minority leader, said that there ought to be increases in America’s…
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Nation’s Household Debt at $16.9 Trillion
Greatest increase in two decades hits record. A new report from the Federal Reserve reveals that U.S. household debt has risen to a record $16.9 trillion in the…
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CBO Predicts Summer Government Default
The rise of the debt ceiling is still being negotiated. The Congressional Budget Office has projected that the Treasury Department will run out of ways to prevent a…
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President Requests Budget Details from Speaker
He reaffirmed the U.S. commitment to avoiding debt default. President Joe Biden has called on House leadership to release a budget proposal for Americans to see for themselves.…
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President Biden Sees Raising Debt Limit as Non-Negotiable
House speaker would like cuts to federal spending. National Economic Council Director Brian Deese recently relayed President Biden’s sentiments regarding lifting the nation’s debt ceiling. He stated, “It’s…
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