Joe Biden had a meeting with Republican and Democratic leaders about the debt ceiling on Tuesday, but they did not come to any agreements and there was no new movement in the negotiations, apart from Biden finally getting off his duff, out of the basement, and meeting with them.
As my colleague Bob Hoge explained:
McCarthy has offered a budget proposal that would trade spending cuts for an increased borrowing limit, but Biden has shown little interest in negotiating. The president has his own budget proposal: a $6.9 trillion behemoth that would spend $1.8 trillion more than the government would take in. He claims that massive new taxes would make up the difference and even lower the deficit.
In other words, Biden wants to keep on spending like it’s going out of style, despite how that spending has already led to record inflation and crushing the pocketbooks of Americans. The claim that somehow massive new taxes will enable him to continue to spend is madness. Once again, if he was trying to drive us off a cliff, what would he be doing differently? Not a heck of a whole lot.
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