Following a number of rounds of discussions between House Republican officials and the Biden administration, the two sides still haven’t reached an agreement on increasing the federal debt limit.
House Speaker Kevin McCarthy, R-Calif., described a Monday evening conversation at the White House, however, as “productive.”
An important factor surrounding the issue is McCarthy’s negotiating position. With Republicans holding a relatively narrow majority, there were doubts whether the speaker could find a majority, 218 votes, for a package addressing both the debt limit and the nation’s rapidly deteriorating finances.
Yet McCarthy managed to thread the needle and guide the Limit, Save, Grow Act to passage. The bill would reduce deficits by trillions of dollars and cut red tape that stands in the way of hundreds of thousands of jobs.
Even as McCarthy has invested heavily in attempting to bring a measure of fiscal sanity to the Washington swamp, his public image has improved. There has been a clear upward polling trend this year in both his national approval and net favorable ratings.
Despite that, there’s tremendous pressure on McCarthy and other Republicans in Congress to back down and increase the debt limit without any measures to reduce inflationary deficit spending.
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