"Debt ceiling crisis sparks fiscal plan pitch by House Republicans"

House Speaker Kevin McCarthy plans to make the case on Wall Street for starting a fiscal showdown that carries enormous economic stakes. Republicans have pledged to halt the nation’s ability to borrow to pay its bills, seeking to force President Biden to accept steep spending cuts and other policy concessions. The consequences of congressional inaction — the first-ever government default — could devastate an economy already teetering on the precipice of recession.