\n<\/p>\n
McCarthy has taken the opportunity to attempt to force government spending cuts; the U.S. needs to both lift the nation\u2019s debt ceiling and \u201ctake control of this runaway spending,\u201d McCarthy told host Margaret Brennan on Sunday. <\/p>\n
The Biden administration has argued Congress has the responsibility to pass a debt limit increase without conditions attached, noting that Congress did exactly that three times during former President Donald Trump\u2019s tenure. <\/p>\n
Asked about White House concerns that some Republicans are seeking cuts to Social Security and Medicare, McCarthy said, \u201cLet\u2019s take those off the table.\u201d <\/p>\n
Cuts to defense spending, however, are still in play, McCarthy suggested. <\/p>\n
\u201cI want to look at every dollar no matter where it\u2019s being spent,\u201d he said, when asked specifically about defense. \u201cI want to eliminate waste wherever it is.\u201d<\/p>\n
McCarthy insisted the U.S. wouldn\u2019t default on its debt \u2014 an unprecedented potential consequence of inaction that could wreak widespread damage on the nation\u2019s credit and the global economy. <\/p>\n
\u201cBut let\u2019s take a pause,\u201d McCarthy said. \u201cWe have hundreds of billions of dollars. This [default] won\u2019t come to fruition until some time in June. So the responsible thing to do is sit down like two adults.\u201d <\/p>\n
The U.S. already hit its statutory limit<\/a> on debt earlier this month, but Treasury Secretary Janet Yellen has predicted \u201cextraordinary measures\u201d could prevent default until June. Some Republicans have argued they could mitigate the situation by having the federal government prioritize who it pays and when, but it\u2019s not clear if that is feasible, given that so much of the system is automated.<\/p>\n<\/div>\n\n McCarthy has taken the opportunity to attempt to force government spending cuts; the U.S. needs to both lift the nation\u2019s debt ceiling and \u201ctake control of this runaway spending,\u201d McCarthy told host Margaret Brennan on Sunday. The Biden administration has argued Congress has the responsibility to pass a debt limit increase without conditions attached, noting …<\/p>\n","protected":false},"author":1,"featured_media":48235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[161],"tags":[],"_links":{"self":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/48234"}],"collection":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/comments?post=48234"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/48234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/48235"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=48234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=48234"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=48234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"