As negotiators are nearing an agreement to increase the nation’s debt ceiling, conservative House Republicans have urged House Speaker Kevin McCarthy (R-Calif.) to add to their demands on President Joe Biden rather than making concessions in order to close the deal. Negotiators from both sides have been meeting intensely for the past two weeks to…

Negotiations over raising the U.S. debt limit ahead of the June 1 deadline have stalled over the issue of 2024 limits on federal discretionary spending. White House negotiators Steve Ricchetti, counselor to the president, and Shalanda Young, director of the Office of Management and Budget, have been meeting with Rep. Garret Graves (R-La.) and Rep….

News Analysis Alexander Hamilton, the 32-year-old wunderkind serving as secretary of the Treasury, proposed a bold plan to the first U.S. Congress on Jan. 9, 1790. The federal government should assume the wartime debts of the 13 states, about $25 million worth, and retire them with funds borrowed at a lower rate of interest, then…

Democrats are addicted to spending, and that must be stopped, according to House Speaker Kevin McCarthy (R-Calif.). The speaker staked out the primary objective of negotiations with President Joe Biden over increasing the nation’s $31.4 trillion debt ceiling in comments to reporters on Capitol Hill on the morning of May 22. Beginning in January, McCarthy…

President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) will meet on May 22 for in-person talks on resolving the debt ceiling crisis. Over the weekend, negotiations between representatives from each side stalled as both doubled down on their demands. Rep. Garret Graves (R-La.), the lead negotiator for Republicans, told reporters on May 19 that…

House Speaker Kevin McCarthy (R-Calif.) expects to bring a deal on raising the federal debt ceiling before the House next week, he told reporters on May 18. The positive tone marks a change for the Speaker, who as recently the day before had refused to say he was optimistic about reaching an agreement with President…