United States House Speaker Kevin McCarthy has pledged on Monday to pass legislation to raise the nation’s debt ceiling — on the condition of capping future federal spending at one percent.In a high-profile speech at the New York Stock Exchange, McCarthy — the Republican leader who is marking his 100th day as speaker of the US House of Representatives — lashed out at President Joe Biden for refusing to engage in budget-cutting negotiations to prevent a debt crisis.He called the nation’s debt load a “ticking time bomb” and denounced Biden as “missing in action” as the deadline nears to raise the debt limit.
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