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Shop NowWe have less than a month now before the government defaults on its debt.
House Speaker Kevin McCarthy (R-CA) has all bet begged Joe Biden to address this issue since January.
Biden was hoping McCarthy and Republicans would soften on their stance to cut back spending, but that has not happened.
In fact, McCarthy just passed legislation that would give Joe Biden $1.5 trillion space while at the same time reducing spending on his upcoming budget.
Time to Sit Down
Biden is now worried about time running out and a default happening, so he called a bipartisan meeting next week to discuss the issue.
Even though he will attend the meeting, Senator McConnell (R-KY) has already removed himself from the process.
As far as McConnell is concerned, this fight is between McCarthy and Biden, but that is not true.
Senator Schumer (D-N.Y.) will also play a role in this because he will have to pass whatever legislation McCarthy puts forward, if he decides to change anything from his original proposal.
This is the defining moment for both McCarthy and Biden right now.
Both have postured, but someone is going to have to blink, as I just don’t see them allowing the country to default on its debt.
With McCarthy already having a plan in place, I believe Biden is the one that will ultimately have to make a concession here.
There is simply no way he can allow the default, as it would crash the economy and ensure that the GOP took over in 2024.
He can try to blame this on Republicans all he wants, but they put forth a solution, so he would be seen as not willing to move off his mark, which would devastate the Democrat Party.
Source: Just the News
