Debt ceiling proposal causes discomfort for House Republicans.
TL;DR Summary
US House Speaker Kevin McCarthy is trying to persuade his fellow Republicans to support a $1.5tn increase in the nation's debt ceiling, which is facing early indications of a possible revolt in his thin majority. McCarthy is trying to couple it with tough new spending controls. If the divided Congress fails to raise the federal government's $31.4tn debt ceiling, the government could face a default that would shake the US and world economies.
Topics:nation#debt-ceiling#democratic-president-joe-biden#kevin-mccarthy#politics#spending-controls#us-house-republicans
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