ANALYSIS: Debt Ceiling Crisis Tests Biden’s Leadership
News analysis
For weeks, President Joe Biden successfully shifted responsibility for the debt ceiling crisis onto the shoulders of House Speaker Kevin McCarthy (R-Calif.).
By refusing to risk the “full faith and credit” of the United States in negotiating over the debt ceiling, the president was able to portray the speaker as “holding the economy hostage.” After releasing his 2024 budget proposal on March 9, Biden was able to tell McCarthy, “Show me your plan” for cutting spending and refuse to enter talks until he did.
Now, McCarthy’s victory in uniting the fractious Republican caucus to pass a debt and spending bill in the narrowly divided House of Representatives calls the president’s strategy into question….