Joe Biden's $4.5 Trillion Cut to the Debt Ceiling

The debt ceiling is the maximum amount the US government can spend on its existing obligations. President Biden, McCarthy says has a choice: Come to the table or risk bumbling your way into the first default in our nation's history. Republicans don't have a lot of breathing room; we have no room for defections. They need to all 222 of them resolve that they will not capitulate"