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Sen. Joe Manchin, D-W.Va., said at a news conference that the smaller budget bill needed more analysis before he would endorse it.

Manchin not ready to back $1.75T budget package

President Joe Biden arrives at the Capitol with Speaker Nancy Pelosi and House Majority Leader Steny H. Hoyer, left, for a meeting Thursday with the House Democratic Caucus on the reconciliation package.

Biden makes $1.75T sales pitch to House Democrats

Federal Reserve Chairman Jerome Powell testifies before the House Financial Services Committee on Feb. 27, 2018. The gross federal debt has grown to more than $28 trillion since then.

Economy, Fed paper over debt problem