Dems reject matched spending cuts, setting up showdown with House Republicans over debt ceiling
(Worthy News) – It’s that time again: Congress has less than one week to hammer out an agreement to raise the debt limit before the U.S. Treasury Department must take “extraordinary measures.”
The U.S. government is expected to reach the $31.4 trillion debt ceiling by Jan. 19. The national debt is currently $31.3 trillion. The debt ceiling was last increased in December 2021.
Members of the conservative House Freedom Caucus have said that spending cuts should match the amount of any debt limit increase. [ Source: Just the News (Read More…) ]