May 25, 2023

McCarthy Says He's Not Optimistic on Debt Limit Deal decision

House Speaker Kevin McCarthy said that he was not optimistic about quickly reaching a debt limit deal as he traveled to the Capitol on Tuesday.

The comments were shared in a report with Fox News on the latest developments in the battle on Capitol Hill.

"I don't think we'll get one today," McCarthy said as he walked past the reporter.

"McCarthy met with President Biden on Monday, and although he hailed the discussions as 'productive,' he told his conference later that night that the White House was still 'dug in' on raising taxes and increasing spending," the report added.

"A simple way for the Democrats to avoid default is to pass the Limit, Save, Grow Act in the Senate," McCarthy tweeted Tuesday.

"With just 9 days left to go, Republicans remain the only ones in Washington who have actually done anything to lift the debt limit and avoid default," he wrote.

The government is expected to run out of money to pay its current obligations by June 1 in an issue that could lead to government shutdowns.

Democrats want to raise the limit without any changes in a move that would keep the left's spending increase intact. The Biden administration is also fighting the GOP's effort to force spending cuts that would end student loan debt forgiveness budgeting.

The Democrats are also working on their own method to bypass the GOP-led bill passed in the House.

The latest news shows that little progress has been made with only days remaining before the situation could grow much worse.

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