Politics - CBSNews.com
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A key element of the debt ceiling negotiations in Washington, D.C., are demands from Republican lawmakers that the nation chop federal spending, including outlays that ballooned during the pandemic.
The push for cuts comes as the U.S. has been spending more each year than it has received in taxes and other revenue since 2001, when President Bill Clinton left the White House. During the pandemic, spending and deficits surged, thanks to the double whammy of President Donald Trump's 2017 tax cuts in addition to spending on emergency measures like...
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