The Biden White House anticipates Republicans were going to put the whole system on a little bit of a diet and makes them feel through this process like they're winning that diet, even though they always plan to be on the diet. And so the debate over the spending caps is really how restrictive is that diet? They disagree about how to spread the budget cuts across the government.
Top White House officials and Republican lawmakers are racing to reach an agreement as the date when the United States is projected to default on its debt approaches.
Jim Tankersley, who covers the White House for The New York Times, looks at the state of the negotiations and explains what it will take to win over enough votes in Congress to avoid an economic disaster.
Guest: Jim Tankersley, a White House correspondent for The New York Times.
Background reading:
- The details have not been finalized, but the deal taking shape would allow Republicans to point to spending reductions and Democrats to say they had prevented large cuts.
- The longer it takes to reach an agreement, the more turmoil there could be for the United States and the global economy. Here’s what to know.
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