Biden, McCarthy divided over debt ceiling but talks continue
1 year, 7 months ago

Biden, McCarthy divided over debt ceiling but talks continue

India Today  

President Joe Biden and top lawmakers agreed on Tuesday to further talks aimed at breaking a deadlock over raising the $31.4 trillion U.S. debt limit, with just three weeks before the country may be forced into an unprecedented default. Biden called the talks "productive" and appeared to offer Republicans some possible compromises, including taking a "hard look" for the first time at clawing back unspent coronavirus relief funds to reduce government spending. Earlier Tuesday, McCarthy appeared to close the door to a short-term solution that's been widely discussed on Capitol Hill: lifting the debt ceiling through September to allow more time for agreement. Treasury Secretary Janet Yellen on Monday said a failure to raise the debt limit would hurt the U.S. economy and weaken the dollar as the world's reserve currency.

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History of this topic

Biden signs bill that averts a government shutdown and brings a close to days of Washington upheaval
3 days, 11 hours ago

Biden signs bill that averts a government shutdown and brings a close to days of Washington upheaval

Associated Press  

WASHINGTON — President Joe Biden signed a bill into law Saturday that averts a government shutdown, bringing a final close to days of upheaval after Congress approved a temporary funding plan just past the deadline and refused President-elect Donald Trump’s core debt demands in the package. That’s good news for the American people.” House Speaker Mike Johnson, R-La., had insisted …

Joe Biden signs bills to avert shutdown, ending days of political turmoil in Washington
4 days, 3 hours ago

Joe Biden signs bills to avert shutdown, ending days of political turmoil in Washington

India Today  

President Joe Biden on Saturday signed legislation that averts a government shutdown heading into Christmas, bringing a final close to days of upheaval in Washington after Congress passed a bipartisan budget plan just past the deadline and rejected Donald Trump’s core demand in the negotiations. House Speaker Mike Johnson, R-La., had insisted lawmakers would “meet our obligations” and not allow …

Biden signs bill that averts government shutdown after days of upheaval
4 days, 3 hours ago

Biden signs bill that averts government shutdown after days of upheaval

LA Times  

The Capitol is pictured in Washington on Friday. President Biden signed a bill into law Saturday that averts a government shutdown, bringing a final close to days of upheaval after Congress approved a temporary funding plan just past the deadline and refused President-elect Donald Trump’s core debt demands in the package. That’s good news for the American people.” House Speaker …

House approves funding bill, sends to Senate hours before government shutdown deadline
4 days, 3 hours ago

House approves funding bill, sends to Senate hours before government shutdown deadline

New Indian Express  

The new 118-page package would fund the government at current levels through March and adds $100 billion in disaster aid and $10 billion in agricultural assistance to farmers. The federal debt limit expires Jan. 1, and Trump doesn't want the first months of his new administration saddled with tough negotiations in Congress to lift the nation's borrowing capacity. “Congress must …

Government funding bill clears Congress and heads to Biden, averting a shutdown
5 days, 3 hours ago

Government funding bill clears Congress and heads to Biden, averting a shutdown

LA Times  

“If there is going to be a shutdown of government, let it begin now,” President-elect Donald Trump posted on social media. Facing a government shutdown deadline, the Senate rushed through final passage early Saturday of a bipartisan plan that would temporarily fund federal operations and disaster aid, dropping President-elect Donald Trump’s demands for a debt limit increase into the new …

What to know about the debt ceiling debate as a government shutdown looms in Washington
5 days, 7 hours ago

What to know about the debt ceiling debate as a government shutdown looms in Washington

Associated Press  

A debate over the debt ceiling is at the center of a dispute over funding that is pushing Washington to the brink of a federal government shutdown. The debt ceiling, or debt limit, is the total amount of money that the United States government can borrow to meet its existing legal obligations. When he rejected the spending proposal on Wednesday, …

GOP accused of breaking debt ceiling deal and 'threatening a government shutdown'
1 year, 6 months ago

GOP accused of breaking debt ceiling deal and 'threatening a government shutdown'

Raw Story  

The top Democrat on the House Appropriations Committee accused her Republican colleagues on Thursday of increasing the likelihood of a government shutdown by approving spending numbers below the levels set under the bipartisan debt ceiling agreement, which hasn't even been law for two weeks. In an appearance on CNN, Rep. Rosa DeLauro said House Republicans have already "walked away from …

Biden signs debt ceiling bill that pulls US back from brink of unprecedented default
1 year, 6 months ago

Biden signs debt ceiling bill that pulls US back from brink of unprecedented default

Associated Press  

WASHINGTON — With just two days to spare, President Joe Biden signed legislation on Saturday that lifts the nation’s debt ceiling, averting an unprecedented default on the federal government’s debt. Instead of holding a public ceremony with lawmakers from both parties — showcasing the bipartisanship that Biden had cited in an Oval Office address on Friday evening — the president …

Biden set to sign debt ceiling bill that averts prospect of unprecedented federal default
1 year, 6 months ago

Biden set to sign debt ceiling bill that averts prospect of unprecedented federal default

The Hindu  

President Joe Biden is expected to sign legislation on Saturday to raise the debt ceiling, dodging Monday's deadline when the Treasury warned that the United States would start running short of cash to pay all its bills. The agreement was hashed out by Mr. Biden and House Speaker Kevin McCarthy, giving Republicans some of their demanded federal spending cuts but …

Biden signs debt ceiling bill, pulling US from brink of default
1 year, 6 months ago

Biden signs debt ceiling bill, pulling US from brink of default

Al Jazeera  

With just two days to spare, President Joe Biden has signed legislation that lifts the nation’s debt ceiling, averting an economically disastrous default on the federal government’s debt. “We’re protecting important priorities from Social Security to Medicare to Medicaid to veterans to our transformational investments in infrastructure and clean energy.” Even as he pledged to continue working with Republicans, Biden …

5 Takeaways From The Debt Ceiling Drama
1 year, 6 months ago

5 Takeaways From The Debt Ceiling Drama

Huff Post  

LOADING ERROR LOADING WASHINGTON ― President Joe Biden will sign the Fiscal Responsibility Act into law on Saturday, capping weeks of congressional drama with a surprisingly dull end to a standoff that risked a worldwide economic catastrophe. Both sides kept their word.” The painstaking negotiations that drove headlines in Washington for months revealed several things about Republicans, Democrats and Biden’s …

Explained: How 'odd pair', Joe Biden and Kevin McCarthy, helped avert US debt default
1 year, 6 months ago

Explained: How 'odd pair', Joe Biden and Kevin McCarthy, helped avert US debt default

Firstpost  

Like bomb squad technicians who just snipped the last wire on a ticking device, Joe Biden and top Republican Kevin McCarthy are breathing a sigh of relief after reaching a deal on the US debt ceiling. On 27 May 2023, Biden and McCarthy reached a debt ceiling deal to avert US default. Biden is a Democratic president running for re-election …

U.S. Congress approves debt-limit suspension, averting default
1 year, 6 months ago

U.S. Congress approves debt-limit suspension, averting default

The Hindu  

The U.S. Senate on June 1 passed bipartisan legislation backed by President Joe Biden that lifts the government's $31.4 trillion debt ceiling, averting what would have been a first-ever default. "We are avoiding default tonight," Senate Majority Leader Chuck Schumer said on June 1 as he steered the legislation through his 100-member chamber. ‘Time is a Luxury’ Republicans had blocked …

Just Days To Spare, Senate Gives Final Approval To Debt Ceiling Deal, Sending It To Biden
1 year, 6 months ago

Just Days To Spare, Senate Gives Final Approval To Debt Ceiling Deal, Sending It To Biden

Huff Post  

LOADING ERROR LOADING WASHINGTON — Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the bipartisan deal and send it to President Joe Biden's desk to become law before the fast-approaching deadline. Senate Majority Leader Chuck Schumer said the bill's …

What is the US debt ceiling and what is in the Biden-McCarthy deal?
1 year, 6 months ago

What is the US debt ceiling and what is in the Biden-McCarthy deal?

The Telegraph  

What is the US debt ceiling? Congress passes new spending bills that will increase the debt level, but the debt ceiling is not raised until it is about to be breached. Past debt ceiling fights have typically ended with a hastily arranged agreement in the final hours of negotiations, thus avoiding a default. “That’s the responsibility of governing.” The agreement …

Just days to spare, Senate gives final approval to debt ceiling deal, sending it to Biden
1 year, 6 months ago

Just days to spare, Senate gives final approval to debt ceiling deal, sending it to Biden

LA Times  

Days away from a default crisis, the Capitol is illuminated as the Senate works into the night to finish votes on amendments on the big debt ceiling and budget cuts package. Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on …

US debt ceiling bill passes House with broad bipartisan support
1 year, 6 months ago

US debt ceiling bill passes House with broad bipartisan support

India Today  

A divided US House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition led by hardline conservatives and avoid a catastrophic default. READ | US debt ceiling deal ready to head to Congress, says Biden as cash runs low Republicans control the House by …

‘It Rewards The Hostage-Taking’: Progressives Fume At Biden's Deal With GOP
1 year, 6 months ago

‘It Rewards The Hostage-Taking’: Progressives Fume At Biden's Deal With GOP

Huff Post  

LOADING ERROR LOADING WASHINGTON — Progressive lawmakers are seething at President Joe Biden’s deal with House Republicans for raising the debt ceiling, warning that it could normalize taking the nation’s economy hostage for years to come. The Republicans are demanding changes that they cannot get through the ordinary democratic process because they’re not supported by the American people.” “The minute …

America’s debt-ceiling deal means it should now avoid Armageddon
1 year, 6 months ago

America’s debt-ceiling deal means it should now avoid Armageddon

Hindustan Times  

Even in a sharply divided Washington, DC, politics-as-usual sometimes works. The consequences of a debt default, the first in America’s modern history, would be dire: the shock from disruption in the biggest sovereign-debt market, accounting for about one-third of the global total and underpinning pricing in financial markets everywhere, threatened to reverberate through every economy around the world. The gravity …

US debt limit deal: How we got here
1 year, 6 months ago

US debt limit deal: How we got here

Al Jazeera  

Bipartisan deal to raise debt ceiling and avoid ‘disastrous’ default heads to US Congress after weeks-long impasse. The agreement negotiated by Biden and Republican House Speaker Kevin McCarthy would suspend the debt ceiling for two years and cap government spending during the same period. In April, McCarthy put forward a bill to raise the debt ceiling that would advance key …

Debt Limit deal explained: How will it impact US economy, polls and people
1 year, 6 months ago

Debt Limit deal explained: How will it impact US economy, polls and people

Hindustan Times  

The recent agreement between President Joe Biden and House Republicans regarding the debt limit and spending has sparked discussions and debates. Biden and House Speaker Kevin McCarthy reached a final agreement Sunday on a deal to raise the nation's debt ceiling while trying to ensure enough Republican and Democratic votes to pass the measure in the coming week. Non-defense Spending …

US debt ceiling deal: the key takeaways
1 year, 6 months ago

US debt ceiling deal: the key takeaways

Raw Story  

President Joe Biden and House Republicans have reached a deal to raise the government's debt ceiling and avert a devastating default. The crux of it Formally known as the Fiscal Responsibility Act of 2023, the bill provides for an increase to the debt ceiling of $31.4 trillion for two years, meaning Biden will crucially not need to negotiate it again …

Key takeaways from Biden and McCarthy's debt ceiling deal
1 year, 6 months ago

Key takeaways from Biden and McCarthy's debt ceiling deal

Firstpost  

There’s a nervous air in the United States as the deadline to increase the debt ceiling approaches. On Saturday, they reached a crucial agreement to raise the government’s debt ceiling, avoiding a disastrous default. AFP Unspent COVID money The deal would also take back some funding that Congress allocated for the coronavirus pandemic but did not spend. A statement from …

Debt ceiling agreement gets thumbs up from business groups, jeers from some on political right
1 year, 6 months ago

Debt ceiling agreement gets thumbs up from business groups, jeers from some on political right

Associated Press  

WASHINGTON — The reviews are starting to come in as details emerge about the debt ceiling agreement reached by President Joe Biden and House Speaker Kevin McCarthy. Rep. Annie Kuster, D-N.H., and chair of a center-left group known as the New Dems, which has roughly 100 members, said the group is “confident” that White House negotiators delivered a “viable, bipartisan …

Opinion: Don't call the debt-ceiling deal a success. It shouldn't have been a crisis at all
1 year, 6 months ago

Opinion: Don't call the debt-ceiling deal a success. It shouldn't have been a crisis at all

LA Times  

Hous Speaker Kevin McCarthy speaks with reporters about the debt-ceiling negotiations as he arrives at the Capitol on Friday. Here’s what would make this whole mess worth it: Adding a provision to repeal or neutralize the World War I-era law that created the debt limit in the first place. Biden, ever the tradition-bound deal-maker, said last October as Democrats talked …

As per your politics, debt ceiling plan is good or a ‘disaster’
1 year, 6 months ago

As per your politics, debt ceiling plan is good or a ‘disaster’

Al Jazeera  

While some of the US Congress’s most conservative members are not happy with the deal, business groups gave it a thumbs-up. She called the debt ceiling agreement a “terrible policy” Sunday on CNN’s State of the Union programme. I told the president that directly, when he called me last week on Wednesday, that this is saying to poor people and …

Biden says final US debt ceiling deal ready for Congress vote
1 year, 6 months ago

Biden says final US debt ceiling deal ready for Congress vote

Al Jazeera  

US president and House Speaker Kevin McCarthy confident they will be able to get enough support to avert unprecedented default. United States President Joe Biden has finalised an agreement with House Speaker Kevin McCarthy to raise the debt ceiling over two years until January 1, 2025, saying the deal is ready to move to Congress for a vote. “Takes the …

What’s next on the debt ceiling: Selling the plan and making a deal into a law
1 year, 6 months ago

What’s next on the debt ceiling: Selling the plan and making a deal into a law

Associated Press  

WASHINGTON — After weeks of negotiations, President Joe Biden and House Speaker Kevin McCarthy have announced an “ agreement in principle ” to raise the nation’s debt ceiling and avoid a potentially catastrophic default. A look at what’s next as Congress rushes to pass an agreement: FINALIZING THE DEAL Speaking to reporters in the Capitol late Saturday, McCarthy said the …

Biden, GOP Reach Tentative Deal To Raise Debt Ceiling, Avoid Calamitous US Default
1 year, 6 months ago

Biden, GOP Reach Tentative Deal To Raise Debt Ceiling, Avoid Calamitous US Default

Huff Post  

LOADING ERROR LOADING WASHINGTON — President Joe Biden and House Speaker Kevin McCarthy reached an “agreement in principle” to raise the nation’s legal debt ceiling late Saturday as they raced to strike a deal to limit federal spending and avert a potentially disastrous U.S. default. Biden called the agreement “good news for the American people, because it prevents what could …

Race for U.S. debt deal as talks go to the wire
1 year, 6 months ago

Race for U.S. debt deal as talks go to the wire

The Hindu  

Democrats and Republicans seemed within grasping distance Saturday of a deal to end the U.S. debt ceiling standoff, with both sides playing hardball in the final race for an agreement to avert a potentially catastrophic default. President Joe Biden gave the strongest sign yet on Friday night that the drama in Washington might be drawing to an end — saying …

Biden, McCarthy reach tentative deal to raise US debt ceiling
1 year, 6 months ago

Biden, McCarthy reach tentative deal to raise US debt ceiling

Al Jazeera  

Deal raises debt limit for two years while capping some spending, but uncertainty remains on whether it can pass Congress. US President Joe Biden and House Speaker Kevin McCarthy have reached a tentative deal to raise the federal government’s $3.4 trillion debt ceiling days ahead of a deadline to avert a potentially catastrophic default. The agreement on Saturday would raise …

Biden and McCarthy reach last-minute deal to raise U.S. debt limit
1 year, 6 months ago

Biden and McCarthy reach last-minute deal to raise U.S. debt limit

LA Times  

President Biden and House Speaker Kevin McCarthy reached what both men called an “agreement in principle” on Saturday to raise the federal government’s borrowing limit and cut some spending, as they sought to end a months-long stalemate that brought the government to the brink of defaulting on its credit for the first time. McCarthy said that he and Biden had …

Debt ceiling explained: What to know about the showdown in Washington as default looms
1 year, 6 months ago

Debt ceiling explained: What to know about the showdown in Washington as default looms

Associated Press  

WASHINGTON — House Republicans still do not have a deal with President Joe Biden to raise the debt ceiling as the nation is a little more than a week away from a potentially catastrophic default. Louisiana Rep. Garret Graves, one of McCarthy’s negotiators, told reporters that “Democrats right now are willing to default on the debt” over their opposition to …

Could the 14th Amendment fix America’s debt-ceiling debacle?
1 year, 6 months ago

Could the 14th Amendment fix America’s debt-ceiling debacle?

Hindustan Times  

America is hurtling towards the “X-date” of June 1st, when Janet Yellen, the treasury secretary, says the country could run out of money to pay its bills. Laurence Tribe of Harvard Law School, one of America’s most-cited law professors, has made a case for it in the New York Times and, speaking on MSNBC, advised the president: “There is every …

US debt ceiling has catastrophic effects- 83 lakh job losses, world recession I EXPLAINED
1 year, 6 months ago

US debt ceiling has catastrophic effects- 83 lakh job losses, world recession I EXPLAINED

India TV News  

US Debt ceiling row: Amid the looming catastrophic recession, US President Joe Biden and House Speaker Kevin McCarthy are narrowing in on a two-year budget deal aiming to curb federal deficits in exchange for lifting the nation’s debt ceiling and staving off an economically devastating government default. White House estimates say a prolonged default could cause 8.3 million job losses …

Where do things stand as the US rolls back debt ceiling deadline?
1 year, 6 months ago

Where do things stand as the US rolls back debt ceiling deadline?

Al Jazeera  

US Treasury Secretary Janet Yellen says the agency will run out of funds to meet financial obligations by June 5. Congress is tasked with increasing the nation’s debt ceiling, and Republican legislators have used their majority in the US House of Representatives as leverage to demand cuts to social programmes in exchange for a ceiling increase as a default looms …

‘Time’s up’: Deal on US debt ceiling close as default looms
1 year, 6 months ago

‘Time’s up’: Deal on US debt ceiling close as default looms

Al Jazeera  

A default could upend global financial markets and push the United States into a major recession. US President Joe Biden and top congressional Republican Kevin McCarthy are closing in on a deal that would raise the government’s $31.4 trillion debt ceiling for two years while capping spending on most programmes, news reports say. The potential agreement would increase funding for …

Debt ceiling deadline is extended to June 5, Yellen says
1 year, 6 months ago

Debt ceiling deadline is extended to June 5, Yellen says

LA Times  

House Speaker Kevin McCarthy talks to reporters about the debt limit negotiations at the Capitol in Washington. Earlier Friday, House Speaker Kevin McCarthy said Republican debt negotiators and the White House had hit “crunch” time and were straining to wrap up a deal with President Biden to curb federal spending and lift the nation’s borrowing limit before the deadline. In …

Threat of US credit downgrade looms over debt ceiling talks
1 year, 6 months ago

Threat of US credit downgrade looms over debt ceiling talks

Associated Press  

WASHINGTON — With one of three major rating agencies warning that America’s AAA credit is at risk, the stakes are growing in the standoff in Washington over raising the nation’s debt limit. But Yellen has warned that Treasury will likely run out of money to meet all its obligations as soon as June 1, which is being described as the …

McCarthy's Republicans push debt ceiling talks to brink, lawmakers leaving town for weekend
1 year, 6 months ago

McCarthy's Republicans push debt ceiling talks to brink, lawmakers leaving town for weekend

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. A defiant House Speaker Kevin McCarthy said the debt ceiling standoff was “not my …

McCarthy says debt ceiling standoff ‘not my fault,’ as White House warns of economic risks
1 year, 7 months ago

McCarthy says debt ceiling standoff ‘not my fault,’ as White House warns of economic risks

Associated Press  

WASHINGTON — A defiant House Speaker Kevin McCarthy said Wednesday the debt ceiling standoff was “not my fault” as he sent Republican negotiators to the White House to finish out talks, but warned the two sides need more time as they try to reach a budget deal with President Joe Biden. The White House blamed the Republicans led by McCarthy …

What is 14th Amendment and can it resolve US debt ceiling fight?
1 year, 7 months ago

What is 14th Amendment and can it resolve US debt ceiling fight?

Al Jazeera  

President Biden can invoke the 14th Amendment and order the Treasury to issue bonds and keep paying government bills in full. While United States President Joe Biden and the Republicans fight about raising the limit on government borrowing to avoid a default on its debt, one idea being kicked around is to invoke the 14th Amendment of the US Constitution. …

Dusting Off the Debt-Ceiling Playbook
1 year, 7 months ago

Dusting Off the Debt-Ceiling Playbook

Live Mint  

The 2011 debt-ceiling imbroglio might not be the best guidebook for how markets will behave through current standoff, but it is the only guidebook investors have. And this makes sense: A failure to reach a deal before the Treasury Department becomes unable to pay its bills could send financial markets into disarray and even plunge the economy into a recession. …

US on the debt ledge, will it fall?
1 year, 7 months ago

US on the debt ledge, will it fall?

Firstpost  

June 1, the earliest date by which the US could default is just a little over a week away. Meanwhile, “extraordinary measures” have been adopted by the US Treasury Department to maintain cash flow till the “hard deadline”, but without an agreement in Congress to raise the limit Treasury Secretary Janet Yellen has warned that the US may not meet …

No debt ceiling agreement, but Biden and McCarthy call White House talks productive
1 year, 7 months ago

No debt ceiling agreement, but Biden and McCarthy call White House talks productive

Associated Press  

WASHINGTON — President Joe Biden and House Speaker Kevin McCarthy both said they had a productive debt ceiling discussion late Monday at the White House, but there was no agreement as negotiators strained to raise the nation’s borrowing limit in time to avert a potentially chaotic federal default. In a brief post-meeting statement, Biden called the session productive but merely …

Joe Biden, House Speaker McCarthy fail to break the ice on debt ceiling deal
1 year, 7 months ago

Joe Biden, House Speaker McCarthy fail to break the ice on debt ceiling deal

India Today  

US President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement on Monday on how to raise the US government's $31.4 trillion debt ceiling with just 10 days before a possible default that could sink the American economy, but vowed to keep talking. The Democratic president and the top congressional Republican have struggled to make a deal, …

What happens if US fails to resolve its debt ceiling crisis? All possibilities listed
1 year, 7 months ago

What happens if US fails to resolve its debt ceiling crisis? All possibilities listed

Hindustan Times  

In a crucial development amid the looming US debt crisis, President Joe Biden is set to meet with House Speaker Kevin McCarthy on Monday to negotiate a resolution. US President Joe Biden will meet with Republican House Speaker Kevin McCarthy on Monday for another round of talks on raising the US debt ceiling less than two weeks before a key …

Why Biden is wary of using the 14th Amendment to address the debt limit crisis
1 year, 7 months ago

Why Biden is wary of using the 14th Amendment to address the debt limit crisis

Associated Press  

WASHINGTON — If the fight with Congress over raising the government’s debt limit is such a dire threat, why doesn’t President Joe Biden just raise the borrowing ceiling himself? One potential option Biden and his advisers have been looking at: Would he have the power to go around lawmakers by relying on the Constitution’s 14th Amendment in a last-ditch move …

US Debt ceiling row: Biden, McCarthy to meet aiming to avert potentially chaotic federal default
1 year, 7 months ago

US Debt ceiling row: Biden, McCarthy to meet aiming to avert potentially chaotic federal default

India TV News  

US debt ceiling row: President Joe Biden and House Speaker Kevin McCarthy are to meet Monday afternoon at the White House at a pivotal moment as Washington works to strike a budget compromise and raise the nation’s borrowing limit in time to avert a potentially chaotic federal default. “That is why we go from crisis to crisis.” Republicans have insisted …

US debt ceiling impasse continues, attacks escalate as deadline draws near
1 year, 7 months ago

US debt ceiling impasse continues, attacks escalate as deadline draws near

India Today  

President Joe Biden's administration and congressional Republicans traded barbs on Saturday over raising the federal $31.4 trillion debt ceiling, with both sides casting the other's proposals as too extreme. White House Press Secretary Karine Jean-Pierre noted in a statement that Biden and Republican House of Representatives Speaker Kevin McCarthy had agreed that any budget agreement would need to be bipartisan …

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