“White House officials are leaving the door open to a compromise with House Republicans on government spending that also resolves the impasse over the federal debt ceiling — a strategy that could allow both parties to claim victory while averting a national economic catastrophe,” the Washington Post reports.
“President Biden has been adamant that he will not acquiesce to Republicans’ proposed spending cuts to secure their support to raise the debt limit, arguing that he cannot reward the GOP for taking the U.S. economy hostage. But Speaker Kevin McCarthy (R-CA) has been equally adamant that the House won’t lift the debt limit without securing cuts.”
“One way out of this logjam — widely discussed on both ends of Pennsylvania Avenue — would be reaching an agreement that each party then defines differently, with Biden claiming he gave up nothing for the debt limit hike and McCarthy claiming he won concessions on spending.”
Playbook: “Expect the staring contest, in fact, to continue well into May — testing the nerves of political leaders, Wall Street investors and everyday Americans alike.”
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