This week, House Republicans issued their policy demands for specific spending reductions and reforms totaling $4.8 trillion needed in exchange for an increase to the debt ceiling later this summer.
Capping growth to 1 percent annually sets the country on a workable path to control spending and limit debt accumulation.
House conservatives are insisting on a rescission for unspent Covid money that is returned to the treasury to both pay down the debt and alleviate inflationary pressure on working families.
Repeal Biden's unconstitutional student loan debt cancellations to save $460 billion over ten years.
House conservatives have insisted that work requirements for able-bodied adults be attached to any debt limit increase.
In exchange for the cuts and policy reforms outlined above, the House could raise the debt limit until March 2024, ensuring no leverage is forfeit and House conservatives can continue to enforce the contours of annual federal spending caps.
It will now be up to the Biden administration to either accept these reforms in exchange for a debt ceiling increase or in their own words, jeopardize the "Full faith and credit of the United States."
https://citizensrenewingamerica.com/issues/primer-an-update-on-the-debt-ceiling-showdown/
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