Share

Pelosi to meet Mnuchin in hopes of deals on debt, spending

Share

WASHINGTON (AP) — House Speaker Nancy Pelosi and other congressional leaders have arranged to meet with Treasury Secretary Steven Mnuchin and acting White House chief of staff Mick Mulvaney next week to explore an agreement to increase the government’s borrowing cap as well as legislation to stave off a severe round of cuts to agency budgets and the Pentagon.

A spokesman for Pelosi on Friday confirmed the meeting and said the two politically nettlesome items wouldn’t necessarily be paired together. Both are among the few must-do items for Pelosi, D-Calif., and her powerful Senate GOP counterpart, Mitch McConnell of Kentucky.

Failure to increase the government’s debt limit could cause a catastrophic first-ever default on U.S. obligations, while lifting so-called spending “caps” is needed for a successful bipartisan round of spending bills. Failure to agree on the spending side of the ledger could ultimately spark a round of automatic budget cuts called sequestration of well more than $100 billion that all sides are eager to avoid.

The government has never defaulted on its debt or other obligations like Social Security, but increasing the debt limit can be a complicated, heavy lift. And many GOP conservatives dislike spending agreements that allow both sides to get around tight limits on spending for agency operations.

Conservative forces inside the White House have resisted the idea of an agreement on spending caps, but it’s commonly assumed that it would advance along with the debt limit legislation.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →



loading

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
Share
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




loading

Conversation