White House sounds alarm on debt ceiling fight, warns Medicaid, food stamps at risk

Former Congressional Budget Office Director Doug Holtz-Eakin on the options for the U.S. debt ceiling.  The Biden administration is warning state and local governments about drastic cuts to Medicaid, food stamps, disaster relief and other federal programs if Congress fails to raise or suspend the debt ceiling soon. The battle to raise the government’s borrowing limit carries big risks for state and local officials, the White House said in a fact sheet obtained by the Associated Press. With the total debt standing at $28.5 trillion, the government would be forced to slash federal programs unless the cap is either suspended or lifted.The Treasury Department began implementing extraordinary measures to keep the government running after the debt limit was reinstated in August around $22 trillion – about $6 …

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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