Mike shares some analysis of House Speaker Kevin McCarthy’s debt ceiling deal with Biden.

GALLAGHER: I understand the frustration we feel with the Democrats. I also know that to some people, compromise is a dirty word. I am listening to some really smart people on this. Newt Gingrich comes to mind. Last night he was with Sean Hannity on Fox News channel. Listen to what the former Speaker said about Kevin McCarthy’s deal with Joe Biden.

GINGRICH: I believe, having done this, as you know, in my new book, ‘March to the Majority,’ where I explain how we spent four years negotiating with Bill Clinton, getting to the only four years of a balanced budget in your lifetime, we did it one step at a time. Well, this is the first step. Now, Republicans can decide it is a pretty reasonable first step, not everything they want, but it starts the game towards the balanced budget, towards appropriations this fall. Remember, what McCarthy did was establish a ceiling not a basement. So you can cut from the ceiling down further.

GALLAGHER: Here’s what I know. I know that Joe Biden said that he was not going to negotiate. I know he said that he was not going to yield at all. McCarthy in the house Republicans forced Biden to come to the table and he did cave. He gave in. Listen to the Democrats. Listen to how they are screeching to the mountain tops. They don’t want any work requirements in order to get welfare. They don’t want that Covid money to come back for China. Listen, this is pretty powerful stuff. Washington is going to spend less then they spent the year before. That is a big stinking deal. Kevin McCarthy pointed this out. I think it is fair to say that Speaker McCarthy is loyal to Donald Trump, but he does point out an economic reality about what house Republicans might be able to accomplish that did not get accomplished during the four years of the Trump presidency.

MCCARTHY: I understand people get upset about walking through a debt ceiling, but this is a House, the Senate and the presidency. I think when you read the ‘Wall Street Journal,’ you read the ‘New York Post,’ you sit back and listen to a lot of economists, they’ll say, this is the strongest debt ceiling we’ve ever had. And if I compare it to when Republicans were in the majority, when they had the House, the Senate and the presidency, they didn’t cut anything, they just added more money.