Page 28 - Debt Ceiling Increase News Today

Their small majority on a debt ceiling increase. >> they came up with a plan. they raise the debt ceiling. they go back to twenty, twenty two spending levels. it also other measures for energy independence, etc. and it score s out of the cbo o at, what, four point a trillion in savings over 10 years. how does kevin mccarthy make another deal with biden? go back to his caucus and get a majority of them to agreey with him to make some concessions? i dont see that happening in 14 days. so if we in ...

This has been focused on trying to narrow the scope of the negotiations. to try to more clearly define the contours around where a deal can be achieved in terms of potential spending cuts going forward. as part of that, i am told the white house has been making very clear what they will not negotiate on. at the top of the list that they are taking off the table is the presidents landmark inflation reduction act which made historic investments in combatting climate change, that house republicans ...

And extreme. >> joining me now is republican congressman chip roy of texas, a member of the house freedom caucus. thank you so much for joining me this evening. the first question is your reaction to what you are hearing from the president, from congressional leaders, and maybe even what you heard in the halls as they came back. >> great to be on, dana. this is pretty much what we expected. i did not think there would be the proverbial white smoke rising from the white house, that some grand dea...

A clean bill, raising the debt limit without conditions, but republicans are calling for major spending cuts. among them is utah senator mike lee, he is leading a group of 43 republicans in the senate vowing to oppose a debt ceiling increase unless they see reforms. >> we have told president biden, look, we will work with you but its not going to be free. the president needs to be reminded of the fact that he has one voice in this, its an important voice, its a powerful voice, but he cant pass s...

The treasury secretary is warning of economic catastrophe as the nation speeds closer to default and neither side is budging ahead of crucial talks at the white house tomorrow. president biden has insisted on a clean bill, raising the debt limit without conditions, but republicans are calling for major spending cuts. among them is utah senator mike lee. he is leading a group of 43 republicans in the senate vowing to oppose a debt ceiling increase unless they see reforms. >> we have told presiden...

That the u.s. has accumulated. and theyve already passed a bill in house. just in the last couple of weeks that would impose a slew of spending cuts and try to rein in some of the biden administration policies. something that is a non starter in a democrat-led senate. so what will happen after this meeting tuesday? well, the president agreed that there needs to be some level of negotiations. that he and kevin mccarthy should sit down. that is uncertain. white house is indicating he will reiterat...

Any major breakthroughs today. this is really the beginning of a much longer dance, sara. >> okay. we just heard from lauren fox there. they are happy to at least be at the negotiating table but the question here is will president biden negotiate and will the republicans negotiate their stance as well. whats bidens plan at this point or strategy? >> reporter: well, sara, president biden is heading into this meeting intent on holding firm for his call for a clean debt ceiling increase. he heads i...

Benefits, even though republicans did take that issue off the table. the house speaker just a little while ago did express some hope, though, heading into this meeting. take a listen. >> this meeting at the white house, what are you hoping for? >> i hope its different than its been for the last 97 days. february 1st, i went to see the president, sat down with him, saying we should work on the debt ceiling, so we wouldnt -- unfortunately 97 days to come back. >> jacqui: some rumblings the white h...

A republican negotiating point. we were talking about this in the break, knowing speaker mccarthy as i do, i dont think that there is a chance in h-e-double hockey sticks he will allow the u.s. to go into default. >> at the same time, in order to keep his job, he cannot pass a clean debt and when the runner hits the road, kevin mccarthy said im not interested in punting, like a short-term, but when we are up against it, things could change. >> john: mccarthy, and that strategy is fraught because...

Wall street, on main street, and just about everywhere in between. jeremy diamond is at the white house for us. the administration really seems to be throwing some cold water on the idea well be seeing progress today. >> reporter: brianna, theyre setting expectations very low for the potential for any kind of substantive progress to come out of this meeting. white house officials tell me heading into this meeting that president biden is determined to hold the line on his view that a clean debt c...