President Biden will sharply rebuke House Republicans on Wednesday, accusing them of holding the U.S. economy hostage by demanding spending cuts in exchange for a debt ceiling deal.
will sharply rebuke House Republicans on Wednesday, accusing them of holding the U.S. economy hostage by demanding spending cuts in exchange for a debt ceiling deal.
It is the latest escalation of rhetoric on both sides as negotiations on the debt ceiling are reaching a pivotal level in order to avoid a default.refuses to budget, insisting that Congress should raise the nation’s debt limit unconditionally, while House Speaker Kevin McCarthy, California Republican, is demanding massive spending cuts and policy concessions in exchange for increasing the debt ceiling.
Both sides are making their case to the American people rather than each other. Mr. McCarthy on Monday delivered a speech at the New York Stock Exchange outlining the GOP plan.is set to deliver a searing rebuttal during a speech at a union hall in Accokeek, Maryland, just south of Washington.will highlight his plan and say the Republicans’ proposed spending cuts could plunge the U.S. into an economic crisis.
“The president will highlight the impacts of Speaker McCarthy and extreme MAGA House Republicans’ threatened 22% spending cuts — to veterans’ health care, child care, and opioids treatment,” the official said. Also, the official said “he’ll explain how House Republicans are trying to take away food assistance and health care from millions of Americans and repeal the Inflation Reduction Act, sending manufacturing overseas.”’s attacks on House Republicans, who took control of the House in January.
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