House Republicans to highlight US debt ahead of Biden budget proposal

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(In 5th paragraph, corrects to say fiscal year begins Oct. 1, not Sept. 1) By David Morgan WASHINGTON (Reuters) -U.S. House Republicans plan to focus on the federal government’s $31.4 trillion debt in a closed-door meeting on Wednesday, the day before President Joe Biden unveils a 2024 spending plan the White House says will help limit the debt’s growth. Democrats and Republicans are expected to hear from director of the nonpartisan Congressional Budget Office (CBO), Phillip Swagel, who has warned the federal debt will surpass the size of the U.S. economy within the next decade if no steps are…

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