The Conversation - Was the debt ceiling fight worth it?

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With the risk of default still looming, Democratic and Republican leaders are racing to pass the debt ceiling deal agreed to over Memorial Day weekend. President Joe Biden and House Speaker Kevin McCarthy expressed confidence that they’ll find the votes before June 5, when the U.S. is expected to run out of money to pay all its bills.

Republicans brought the U.S. to the brink of default over their concerns that federal spending and the resulting national debt are too high. So, as lawmakers continue to work out the finer details of the deal, how did the GOP do?

Not very well, if you ask Raymond Scheppach, a former official at the Congressional Budget Office who’s now a professor of public policy at the University of Virginia.

The deal “does hardly anything to address America’s long-term debt problem,” he writes, “which to me shows why a debt ceiling standoff is not the right way to solve it.”

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Bryan Keogh

Deputy Managing Editor and Senior Editor of Economy and Business

House Speaker Kevin McCarthy has billed the deal as a victory for his party. AP Photo/J. Scott Applewhite

COVID-19 clawbacks, spending caps and a cut – what House Republicans got in return for pushing the US to the brink of default

Raymond Scheppach, University of Virginia

The White House and House Republicans agreed to a deal just days before the US is expected to default – but they still have to get it approved by Congress. 

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  • What it takes to become a spelling bee champ

    Pawan Dhingra, Amherst College

    The road to becoming a champion speller is made easier with support from family and friends, but ultimately it depends on an individual student’s commitment to learning, a scholar writes.

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