Navigating the High-Stakes Politics of the Debt Ceiling

Speaker Kevin McCarthy faces a tougher challenge in finding a debt ceiling bill that can win support from House Republicans and President Biden by the June 1 deadline set by Treasury Secretary Janet Yellen. McCarthy must work across the aisle to prevent a government default while keeping the confidence of conservatives in his conference who expect him to hold a hard line on federal spending and deficit reduction. Biden is demanding a "clean" hike, and the Republican proposal is dead on arrival in the Democratic-led Senate, where legislation to lift the borrowing cap to prevent a default will require bipartisan buy-in.