The debt ceiling drama seems to be nearing its end, as the US House of Representatives passed legislation that would lift the debt ceiling in accordance with a deal reached last weekend between Joe Biden, the president, and Kevin McCarthy, the Republican speaker of the House. The Republicans have been fighting to force cuts in spending and/or eligibility for food stamps (Snap), Medicaid, childcare and pre-schools, education and grants for higher education.
By linking these and other provisions to the lifting of the debt ceiling, the Republicans tried to use the threat of default on the public debt to force Democrats to accept them. The legislation, which now goes to the Senate where it is expected to pass, did not satisfy most of their desires.
