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US debt ceiling talks, discrepancies over $70 billion discretionary spending ‘close to agreement’ = sources | Reuters

Negotiations between President Biden and House Speaker McCarthy over raising the US debt ceiling are nearing a deal, with a difference of just $70 billion between the two on “discretionary spending,” excluding social security and other items. (2023 REUTERS/Craig Hudson)

[ワシントン 25日 ロイター] – Talks between President Biden and Speaker of the House McCarthy over raising the US debt ceiling are nearing agreement, with a difference of opinion between the two on “discretionary spending” excluding social security and other items amounting to just $70 billion. sources.

The sources said they expected the deal to be a simple document with a few key figures, rather than a long bill of hundreds of pages. Overall figures for discretionary spending will be hammered out, and sectors such as housing and education will be left to lawmakers to work out the details over the next few months through the normal budgeting process, he said.

Discretionary spending will reach $1.7 trillion in 2022, according to federal statistics. It accounted for 27% of total spending ($6.27 trillion), about half of which was for defense. Some lawmakers have argued that defense spending should not be cut.

The White House declined to comment.

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