The nation is days away from defaulting on its obligations.The Republican House speaker, pushed by conservatives in his party, demands deep spending cuts.The president, a Democrat, works on negotiating a package to avert a fiscal calamity.No, it's not 2023.It's 2011, when then-President Barack Obama agreed to a debt ceiling deal with then-House Speaker John Boehner that called for more than $900 billion in upfront spending cuts and deficit reduction, as well as the creation of a joint congressional committee that would find at least $1.2 trillion in additional belt tightening.
#back #years #republicans #biden-administration #president-joe-biden #negotiations #conservatives #house-republicans #president-barack-obama #obligations
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