The House Budget Committee chairman said in an interview that the GOP budget process could take months to play out, pushing it past the deadline for Congress to act on raising the debt ceiling
The U.S. relies on debt for much of its spending — but what would spending cuts look like? WSJ explains how much the Treasury relies on debt, where it goes and what happens when the Treasury hits the debt ceiling.WASHINGTON—President Biden said he needs to see House Republicans’ budget proposal to start negotiations related toThe chairman of the House Budget Committee, Texas Rep.
Jodey Arrington, said in an interview that the GOP budget process could take months to play out, pushing it past the deadline for Congress to act on raising the debt ceiling and avoid a U.S. default on debt payments and other government obligations. Instead, he and other top Republicans want to start talks immediately on a shorter list of demands for this year, without a formal budget in hand.
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