Debt ceiling standoff: Spending on Covid gives way to new focus on deficit
debt ceiling standoff: The ambitious COVID-19 era of government spending to cope with the pandemic and rebuild is giving way to a new focus on tailored investments and stemming deficits.
President Joe Biden has said recouping unspent coronavirus money is “on the table" in budget talks with Congress. While the White House has threatened to veto Republican House Speaker Kevin McCarthy’s debt ceiling bill with its “devastating cuts" to federal programs, the administration has signaled a willingness to consider other budget caps.
The end result is a turnaround from just a few years ago, when Congress passed and then-president Donald Trump signed the historic $2.2 trillion CARES Act at the start of the public health crisis in 2020.
It’s a dramatic realignment even as Biden’s bipartisan infrastructure law and Inflation Reduction Act are now investing billions of dollars into paving streets, shoring up the federal safety net and restructuring the U.S.
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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