How did two of the most powerful figures in Washington stave off an unprecedented default that could have ravaged the economy and held unknown political consequences? They tapped a handful of emissaries to negotiate a deal to lift the debt limit.
Speaker of the House Kevin McCarthy, R-Calif., walks to the House chamber at the Capitol in Washington, Wednesday, May 31, 2023. as the House moves toward passage of the debt limit bill.
Speaker of the House Kevin McCarthy, R-Calif., walks to the House chamber at the Capitol in Washington, Wednesday, May 31, 2023. as the House moves toward passage of the debt limit bill.
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Here's how Biden and McCarthy struck a debt limit deal and staved off a catastropheIt's a tale of an underestimated House speaker determined to defy expectations that he couldn't address a complex debt limit fight, and a president who tuned out the noise from his own party to ensure a default would not happen on his watch.
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Here's how Biden and McCarthy struck a debt limit deal and staved off a catastropheIt's a tale of an underestimated House speaker determined to defy expectations that he couldn't address a complex debt limit fight, and a president who tuned out the noise from his own party to ensure a default would not happen on his watch.
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How Biden and McCarthy struck a debt limit deal and staved off a catastropheHaving lived through the debacle of a 2011 debt limit fight, Biden would not entertain any concessions for a task that he viewed as Congress’ fundamental responsibility. But McCarthy was intent on using the nation’s borrowing authority as leverage
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How Biden and McCarthy struck a debt limit deal and staved off a catastropheThe debt limit deal is a tale of an underestimated House speaker determined to defy expectations that he couldn’t address a complex debt limit fight, and a president who tuned out the noise from his own party to ensure a default would not happen.
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McCarthy credited for win on deal ceiling; leads House members through difficult bipartisan voteIn the face of their parties’ loud opposition to the debt ceiling bill, House Republicans and Democrats cast their votes to pull the legislation across the finish line.
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