President Joe Biden wants to see a Republican budget before resuming fiscal talks with Speaker Kevin McCarthy. But Republicans say their budget will be delayed as they urge negotiations over raising the debt limit. CQ Roll Call’s David Lerman, Lindsey McPherson and Aidan Quigley outline the debt limit standoff and a war of words between the parties over the impact of potential spending cuts.

Show Notes:

• Chicken-or-egg game is on as Congress barrels toward debt limit
• White House, Democrats unload on GOP spending cuts scenarios
• Balanced budget takes back seat to paring spending to ’22 levels at GOP retreat