Jason Furman: McCarthy pretending spending cuts are about debt. 'This is about the Speaker's agenda'

Former Obama Council of Economic Advisers Chairman Jason Furman and Brendan Buck, former senior adviser to Speakers Boehner and Ryan, join Andrea Mitchell to weigh in on the debt limit negotiations between the White House and congressional Republicans eight days before the “X-date” for default projected by Treasury Secretary Janet Yellen. “The idea that they have painless, magical ways to get around this that I hear about, frankly, from both sides, is just wrong,” Furman says. Regarding the proposed Republican spending cuts, he adds, “Let's not pretend this is about the debt when you're raising defense spending, when he started out saying he wanted to reduce tax enforcement. Things like work requirements have little budgetary impact. This is about the Speaker's agenda, and he should be clear about that and not pretend this is really about the debt.”May 24, 2023