Republican debt-limit plan would cut US jobs, slow growth, economist tells Senate panel

A Republican <a href="/world/us/whats-us-house-republicans-debt-ceiling-spending-cut-bill-2023-04-27/">plan</a> to cut federal spending in exchange for lifting the U.S. government's <a href="/markets/us/us-debt-ceiling-straightforward-vote-is-not-usual-path-2023-02-01/">debt ceiling</a> would lower employment, slow economic growth and "meaningfully increase" the likelihood of a recession, Moody's Analytics' chief economist told a Senate committee on Thursday.