{"id":48282,"date":"2023-01-29T19:10:27","date_gmt":"2023-01-29T19:10:27","guid":{"rendered":"http:\/\/www.brandon.ddtest.info\/multisite-test\/mccarthy-on-debt-limit-there-will-not-be-a-default\/"},"modified":"2023-01-29T19:10:27","modified_gmt":"2023-01-29T19:10:27","slug":"mccarthy-on-debt-limit-there-will-not-be-a-default","status":"publish","type":"post","link":"http:\/\/www.brandon.ddtest.info\/multisite-test\/mccarthy-on-debt-limit-there-will-not-be-a-default\/","title":{"rendered":"McCarthy on debt limit: \u2018There will not be a default\u2019\u00a0"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Speaker Kevin McCarthy (R-Calif.) in an interview on Sunday ahead of talks with President Biden dismissed the idea that the U.S. would default on its debt.<\/p>\n<p>\u201cWe\u2019re not going to default,\u201d McCarthy said on \u201cFace the Nation\u201d on CBS. \u201cThis won\u2019t come to fruition until sometime in June.\u201d<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\">\n<\/aside>\n<p>\u201cThere will not be a default,\u201d McCarthy added. \u201cBut what is really irresponsible is what the Democrats are doing right now, saying we just raise the limit.\u201d<\/p>\n<p>The U.S. hit its technical borrowing limit of around $31.4 trillion earlier this month, but as McCarthy alluded, the Treasury will be able to keep the government\u2019s bills paid until sometime in June. Now, lawmakers must reach a deal to raise the debt ceiling so the government can take on new debt and avoid a default.<\/p>\n<p>But early indications are that Democrats and Republicans are far apart on their demands. The White House and many Democrats want the debt ceiling to be increased with no strings attached. Republicans and a small number of moderate Democrats want the White House to commit to spending cuts before an agreement on the borrowing limit.<\/p>\n<p>\u201cThe responsible thing to do is sit down like two adults and start having that discussion,\u201d McCarthy said on CBS.\u00a0<\/p>\n<aside class=\"thehill-promo-link\">\n\t\t<a href=\"https:\/\/thehill.com\/homenews\/administration\/3835190-poll-equal-percentage-of-americans-concerned-about-biden-trump-classified-docs\/\" class=\"thehill-promo-link__link\" target=\"_blank\" rel=\"noopener\"><br \/>\n\t\tPoll: Equal percentage of Americans concerned about Biden, Trump classified docs\t<\/a><br \/>\n\t\t<a href=\"https:\/\/thehill.com\/homenews\/sunday-talk-shows\/3835160-cbc-asks-to-meet-biden-on-police-reform\/\" class=\"thehill-promo-link__link\" target=\"_blank\" rel=\"noopener\"><br \/>\n\t\tCBC asks to meet Biden on police reform\t<\/a><br \/>\n\t<\/aside>\n<p>McCarthy also announced that a much-anticipated meeting with Biden <a href=\"https:\/\/thehill.com\/homenews\/sunday-talk-shows\/3835095-mccarthy-says-hell-meet-biden-on-wednesday-to-talk-debt-ceiling\/\">would be held on Wednesday<\/a>.<\/p>\n<p>While lawmakers quarrel over how to advance, Treasury Secretary Janet Yellen <a href=\"https:\/\/thehill.com\/policy\/finance\/3834948-yellen-nervous-about-us-defaulting-on-debt\/\">is sounding the alarm<\/a> on how harmful a U.S. default would be. She told Axios over the weekend that the country would face an economic crisis and spiral into a deep recession if lawmakers were unable to find a compromise on the debt ceiling. <\/p>\n<aside class=\"ad-unit ad-unit--mr2_ab\">\n<\/aside>\n<p><em>\u2013Updated at 1:49 p.m.<\/em><\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiamh0dHBzOi8vdGhlaGlsbC5jb20vaG9tZW5ld3Mvc3VuZGF5LXRhbGstc2hvd3MvMzgzNTE4Ny1tY2NhcnRoeS1vbi1kZWJ0LWxpbWl0LXRoZXJlLXdpbGwtbm90LWJlLWEtZGVmYXVsdC_SAW5odHRwczovL3RoZWhpbGwuY29tL2hvbWVuZXdzL3N1bmRheS10YWxrLXNob3dzLzM4MzUxODctbWNjYXJ0aHktb24tZGVidC1saW1pdC10aGVyZS13aWxsLW5vdC1iZS1hLWRlZmF1bHQvYW1wLw?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Speaker Kevin McCarthy (R-Calif.) in an interview on Sunday ahead of talks with President Biden dismissed the idea that the U.S. would default on its debt. \u201cWe\u2019re not going to default,\u201d McCarthy said on \u201cFace the Nation\u201d on CBS. \u201cThis won\u2019t come to fruition until sometime in June.\u201d \u201cThere will not be a default,\u201d McCarthy &hellip;<\/p>\n","protected":false},"author":1,"featured_media":48283,"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\/48282"}],"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=48282"}],"version-history":[{"count":0,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/posts\/48282\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media\/48283"}],"wp:attachment":[{"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/media?parent=48282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/categories?post=48282"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.brandon.ddtest.info\/multisite-test\/wp-json\/wp\/v2\/tags?post=48282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}