Speaker McCarthy vows to pass debt bill — but can he do it?

Speaker of the House Kevin McCarthy speaks during an event at the New York Stock Exchange in New York, Monday, April 17, 2023. (AP Photo/Seth Wenig)

WASHINGTON — House Speaker Kevin McCarthy pledged on Monday to pass legislation to raise the nation’s debt ceiling — but only on condition of capping future federal spending increases at 1% — as he lashed out at President Joe Biden for refusing to engage in budget-cutting negotiations to prevent a debt crisis.