CBO fiddles with debt ceiling deadline, now could be end of July

May 12, 2023
World Net Daily

This story was originally published by the WND News Center.

The massive federal government spending under Joe Biden over the last few years has pushed the nation's debt to its legal ceiling, and the process usually is for Congress raise that limit.

Which the House GOP already has done.

A report at PJMedia said the CBO explained, "It’s just a guessing game in the end. The CBO has no idea how much revenue the government is going to take in between now and the beginning of June."

The report said, "Biden has finally — reluctantly — agreed to sit down with Republicans and negotiate a deal to cut spending in return for raising the debt limit. This is something he said he would never, ever do, and his rabid radical base is already screaming that they’ve been betrayed."

Biden and McCarthy already have met once on the dispute, and were scheduled to meet again only it was delayed until next week.

PJMedia said, "McCarthy told reporters at the Capitol that the delay was not a sign of trouble in the talks but that he believed the staff negotiators who had been meeting this week needed to continue to talk before the principals met again."

The report continued, "White House officials acknowledge that they must accept some spending cuts or strict caps on future spending if they are to strike a deal, two sources said, while insisting they must preserve Biden’s signature climate legislation that passed along party lines last year."

It was last month that the House GOP took action to address the developing problem – and solve it by raising the ceiling.

They also capped future spending.

The report explained, "Republicans will probably settle for some caps on future spending over 2-10 years and reduced incentives for renewables. If that doesn’t sound like much, it isn’t. But it’s all Republicans are going to get from a president who spent more than $5 trillion in unnecessary spending and can’t face the consequences of his policies."

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