What are the consequences of the GOP's plan to trim the federal deficit?

The White House has analyzed House Speaker Kevin McCarthy's plan to trim the federal deficit and has concluded that it would lead to a 22% cut to non-defense spending, leaving children poorer, veterans sicker, families hungrier, and housing more expensive. White House budget director Shalanda Young argued that McCarthy's budget caps mask the full extent of the likely cuts that would harm millions of U.S. households in the long run, writing in a draft that the GOP's legislation is "vague by design -- but that doesn't obscure the fact that it will force devastating cuts that will hurt millions of people, damage our economy and undermine our national security." In response, Republican lawmakers are not spelling out specific cuts to potentially minimize backlash to their plan. Instead, they are betting on public support for a smaller government. McCarthy's proposal would raise the debt ceiling by $1.5 trillion into March 2024 in exchange for a long list of Republican priorities. President Joe Biden has opposed the idea of budget talks being involved in raising the limit on the government's legal borrowing authority.

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