The U.S. only has a few months until it can no longer pay its bills. Republicans say they’ll only raise the debt ceiling if Democrats agree to aggressive spending cuts. WSJ’s Natalie Andrews explains the Republican proposal and what’s at stake for the economy.

Further Reading:

-Kevin McCarthy, House GOP Debt-Limit Plan Face Crucial Test This Week 

-Kevin McCarthy Says House GOP Plans to Vote on Debt Limit, Spending Cuts 

-U.S. Nears Debt Ceiling, Begins Extraordinary Measures to Avoid Default 

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