Richmond, Va. (Newsradiowrva.com) - Senator Tim Kaine (D), in a zoom call with Virginia reporters, offered a broad outline of what he thinks is coming out of any deal on the debt ceiling. The debt ceiling must be raised by June 1st, or the government will default on its debts, meaning federal employees and the military won't get paid. Financial markets will also likely take a hit.
Kaine says any deal will likely extend the debt ceiling for a period of time. He says it also likely to include broad outlines on budget cuts. The Democrat also thinks it is possible there may be a commission to look at longer reforms.
Kaine would not say what cuts he would accept, saying the "devil is in the details." He says he'd rather not put down red lines, and wants to see what negotiators come up with.
