It Appears That House Republicans Are Getting Ready to Cave on the Debt Limit

Over the past few months, Democrats have accused Republicans of driving the US towards defaulting on its financial responsibilities. Meanwhile, the GOP has maintained that it will not compromise on the debt limit but is looking to cut excessive spending in the country’s capital. This stance has rallied conservatives behind House Speaker Kevin McCarthy.

However, it seems like there has been very little progress in finding a way forward on this issue. McCarthy has not spoken or negotiated with President Joe Biden for months, and the plan the GOP leadership has proposed seems to be throwing everything at the wall and seeing what sticks.

An article from Punchbowl News states that the GOP’s plan is proposing to limit the budget’s growth to one percent annually for the next ten years. The plan would also rescind unspent COVID-19 funds, revoke some green tax credits, prohibit student loan forgiveness, and enact work requirements for social programs. Representative Garret Graves (R-LA) is leading the plan’s creation, deputized by Speaker Kevin McCarthy. However, McCarthy’s apparent lack of effort in creating the plan is worrying. Graves, being a moderate Republican, has raised some concerns among conservatives. McCarthy’s decision to delegate the creation of the plan suggests that he is not genuinely committed to conservative ideals regarding government spending.

These issues have come to the forefront as McCarthy prepares to speak to the New York Stock Exchange to allay concerns they have about the U.S. debt ceiling. However, Punch