Debt ceiling talks push Washington toward new era of deficit cuts
FILE - Speaker of the House Kevin McCarthy of Calif., left, listens as President Joe Biden speaks before a meeting on the debt limit in the Oval Office of the White House, Tuesday, May 9, 2023, in Washington. One outcome is becoming clear as Biden and congressional leaders reach for a budget deal to end the debt ceiling standoff: The COVID-era big government spending, to halt the pandemic and rebuild in its aftermath, is giving way to a new fiscal focus on longer term investments and stemming deficits. (AP Photo/Evan Vucci, File)
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