{"id":561297,"date":"2023-03-09T04:01:16","date_gmt":"2023-03-09T01:01:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mccarthy-uses-cbo-briefing-to-prod-biden-on-debt-limit-talks\/"},"modified":"2023-03-09T04:01:16","modified_gmt":"2023-03-09T01:01:16","slug":"mccarthy-uses-cbo-briefing-to-prod-biden-on-debt-limit-talks","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mccarthy-uses-cbo-briefing-to-prod-biden-on-debt-limit-talks\/","title":{"rendered":"#McCarthy uses CBO briefing to prod Biden on debt limit talks"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35009875e36\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35009875e36\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/mccarthy-uses-cbo-briefing-to-prod-biden-on-debt-limit-talks\/#McCarthy_uses_CBO_briefing_to_prod_Biden_on_debt_limit_talks\" >McCarthy uses CBO briefing to prod Biden on debt limit talks<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"McCarthy_uses_CBO_briefing_to_prod_Biden_on_debt_limit_talks\"><\/span>McCarthy uses CBO briefing to prod Biden on debt limit talks<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/mccarthykevin_030823gn09_w.jpg?w=900\" \/><\/p>\n<div>\n<p>Speaker Kevin McCarthy (R-Calif.) took aim at President Biden as he emerged from a bipartisan members briefing by the director of the Congressional Budget Office (CBO), prodding the president to arrange another meeting to negotiate on raising the debt limit.<\/p>\n<p>\u201cWhen the president delays our opportunity to negotiate together to help solve this problem, it only harms our economy more,\u201d McCarthy said on Wednesday.<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\"><\/aside>\n<p>The prepared presentation\u00a0by CBO Director Phillip Swagel warned that revenues under current law <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/Congressional%20Budget%20Office\">will not keep pace with spending<\/a> and that major trust funds, including <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security and Medicare, will be exhausted within 10 years.<\/p>\n<p>\u201cThe longer action is delayed, the larger the policy changes would need to be,\u201d it said.<\/p>\n<p>Biden and McCarthy have had one White House meeting, on Feb. 1, which the Speaker left projecting optimism about negotiating spending cuts as a condition of raising the debt ceiling. But negotiations have since stalled, with the White House saying that Republicans should first release their proposed budget.<\/p>\n<p>McCarthy said Biden has not reached back out since that February meeting.<\/p>\n<p>\u201cI believe eventually he will, but that\u2019s a month wasted,\u201d McCarthy said. \u201cThat\u2019s a month that brings more doubt financially. That\u2019s a month that hurts Americans. The sooner we get together, the better off all America will be.\u201d<\/p>\n<p>The briefing was a move by McCarthy to put focus on spending and the debt. Congress will have to vote to raise the debt ceiling by an expected summer deadline \u2014 an exact date for when the Treasury\u2019s \u201cextraordinary measures\u201d will be exhausted is uncertain \u2014 in order to avoid severe economic consequences.<\/p>\n<aside class=\"ad-unit ad-unit--mr2_ab\"><\/aside>\n<p>McCarthy and House Majority Leader Steve Scalise (R-La.) both thanked House Minority Leader Hakeem Jeffries (D-N.Y.) for bringing Democrats and Republicans together for the briefing.<\/p>\n<p>\u201cWe can agree to disagree on our vision and our plans and our strategies to bend the curve, to put us on a sustainable path, and to save the country from a debt crisis. But what we can\u2019t do is disagree on the math,\u201d House Budget Committee Chairman Jodey Arrington (R-Texas) said. \u201cSo this isn\u2019t today wasn\u2019t about Republican or Democrat. It\u2019s about the mathematic reality that our country faces.\u201d<\/p>\n<p>Democrats, though, saw the timing as strategic. Biden is set to release his budget on Thursday, which is expected to include\u00a0tax hikes on wealthy individuals and corporations that he estimates could reduce the deficit by $2 trillion over a decade.<\/p>\n<aside class=\"ad-unit ad-unit--mr3_ab\"><\/aside>\n<p>\u201cHe wants us to look at the budget with this in mind. We can go, \u2018Oh, no, no, no, no, no. We can\u2019t spend any more. We\u2019re already in the red,\u2019\u201d Rep. Jamaal Bowman (D-N.Y.) said. \u201cAnd it\u2019s like, that\u2019s not really how our budget works.\u201d<\/p>\n<p>And rather than influencing Democrats away from Biden\u2019s positions on the budget, House Minority Whip Katherine Clark (D-Mass.) said the event \u201csets the groundwork for the president\u2019s budget.\u201d<\/p>\n<p>\u201cHe\u2019s trying to make our tax code work for everyday Americans and protect Medicare into the future,\u201d Clark said.<\/p>\n<aside class=\"ad-unit ad-unit--mr4_ab\"><\/aside>\n<p>The findings lawmakers were briefed on during the presentation also included projections showing the federal debt held by the public was on track to reach a record high in 2033, climbing to 118 percent of GDP before reaching 195 percent in 2053, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/cbo.gov\/publication\/58905\">according to presentation slides<\/a> released\u00a0by the CBO.<\/p>\n<p>Republicans leaving the presentation sought to pin blame on spending greenlit under the Biden administration and put pressure on the White house to come to the table in spending talks.\u00a0<\/p>\n<p>\u201cSpeaker McCarthy has laid out many times that he wants to have more conversations with President Biden to figure out how to get control over this problem,\u201d Scalise said.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr5_ab\"><\/aside>\n<p>Jeffries, like the White House, indicated that the ball is in Republicans\u2019 court and said that he hopes the House GOP releases a budget soon.<\/p>\n<p>\u201cWe need to operate from a common set of facts in order to tackle the challenges that are in front of us. President Biden is going to release his budget tomorrow. It will be in the public domain, setting forth the Democratic vision for building a strong economy for everyday Americans,\u201d Jeffries said.\u00a0<\/p>\n<\/div>\n<p>Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thehill.com\/business\/budget\/3890835-mccarthy-uses-cbo-briefing-to-prod-biden-on-debt-limit-talks\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>McCarthy uses CBO briefing to prod Biden on debt limit talks Speaker Kevin McCarthy (R-Calif.) took aim at President Biden as he emerged from a bipartisan members briefing by the director of the Congressional Budget Office (CBO), prodding the president to arrange another meeting to negotiate on raising the debt limit. \u201cWhen the president delays&#8230;<\/p>\n","protected":false},"author":1,"featured_media":561298,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/mccarthykevin_030823gn09_w.jpg?w=1280","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[30889,51697,134418,134353,139529,87077,35813,40445,115,139979,70289,89448],"class_list":["post-561297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-biden","tag-budget","tag-congress-blog","tag-court-battles","tag-defense-national-security","tag-hakeem-jeffries","tag-kevin-mccarthy","tag-media","tag-news","tag-phillip-swagel","tag-senate","tag-steve-scalise"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=561297"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/561297\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/561298"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=561297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=561297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=561297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}