Principle of agreement in the United States to raise the debt ceiling

This Saturday the Republican leader kevin mccarthy He confirmed that Republicans and the White House have reached an ‘agreed principle’ that will increase the federal debt limit or debt ceiling in exchange for cuts in government spending.

The debt ceiling It is the total amount of money that the United States Government is authorized to borrow to meet its legal obligations. Unlike other countries, the US government must accept the limit imposed by Congress.

The Republican-led proposal the legislative course would begin. In the next 72 hours, legislators must read the proposal and it would later be voted on in the House.
​

“I just got off the phone with the president a while ago. After he fooled around and refused to negotiate for months, we have come to an agreement in principle that he is worthy of the American people.“McCarthy said on his social networks.

Furthermore, he noted that “The agreement includes a historic reduction in public spending and reforms that will lift people out of poverty and incorporate them into the workforce”.

This Friday the president Joe Biden assured: “I feel optimistic” against the possibility of raising the debt ceiling.

EFE AGENCY