McCarthy Pitches Path Forward on Debt Limit as Congress Returns – By Kaia Hubbard (US News) / Apr 17 2023
Congress returns to Washington this week as the next phase of the debt ceiling fight gets underway.
House Speaker Kevin McCarthy kicked off the next phase of the debt ceiling debate on Monday as lawmakers return to Washington from a two-week recess with a lengthy to-do list.
Speaking at the New York Stock Exchange on Monday morning, McCarthy relayed his party’s plan to use a looming debt limit deadline to cut spending, saying that negotiations over raising the debt ceiling – which economists say failing to do would have catastrophic consequences – provide an “opportunity to examine our nation’s finances.”
The California Republican outlined a plan that he said is fiscally responsible because “it limits, it saves and it grows.”
