Newsbreak 2 weeks ago in Administration, Around The World, Ben LaBolt, Debt Ceiling, House Freedom Caucus, News, President Biden, Scott Perry, Spending Cuts 0 Category: Debt Ceiling
White House brands Freedom Caucus deficit plan as ‘tax breaks for the super wealthy’
Newsbreak 2 weeks ago in Administration, Around The World, Ben LaBolt, Debt Ceiling, House Freedom Caucus, News, President Biden, Scott Perry, Spending Cuts 0 The White House branded the House Freedom Caucus’ deficit plan as “tax breaks for the super wealthy and wasteful spending for special interests,” as the two sides continued to trade jabs amid an escalating debt ceiling battle. “MAGA House Republicans are proposing, if spread evenly across affected discretionary programs, at least a 20 [percent] across the board cut,” White House Communications Director Ben LaBolt said…
US could default on debt as soon as June: analysis
Newsbreak 4 weeks ago in Around The World, Budget, Business, Debt Ceiling, debt default, Economy, federal debt limit, Inflation, Personal Finance, Recession, Treasury Department 0 The U.S. could default on the nationwide debt as soon as June if lawmakers and the White House don’t strike a deal to lift the federal borrowing restrict, in accordance with projections released Wednesday by outstanding non-partisan suppose tank The Bipartisan Policy Center (BPC), which intently tracked the debt ceiling, issued new projections Wednesday of the “X-Date,” the date at which the Treasury Department will…
Five ways a federal debt default could hurt Americans
Newsbreak 1 month ago in Around The World, Debt Ceiling, debt ceiling showdown, Finance, Joe Biden, Kevin McCarthy, Recession 0 Americans are getting a crash course on the country’s borrowing restrict, as a high-stakes standoff on Capitol Hill dominates nationwide consideration. Last month, the Treasury Department announced it’s implementing “extraordinary measures” to keep the nation from defaulting on its debt, after it hit the roughly $31.4 trillion restrict set by Congress more than a year in the past. The Treasury said the measures are anticipated…
House Republican says he’s working with Democrats on ‘fail-safe’ option for debt ceiling
Newsbreak 2 months ago in Around The World, Biden, Brian Fitzpatrick, Debt Ceiling, House, McCarthy, News 0 Rep. Brian Fitzpatrick (R-Pa.) said on Sunday that he’s working throughout the aisle on a bipartisan answer on the debt ceiling as lawmakers brace for bitter negations in coming months over nation’s funds. Fitzpatrick, who heads the Problem Solvers Caucus with Rep. Josh Gottheimer (D-N.J.), said the pair are working on a backup plan if the White House and House Republicans cannot attain an settlement…
House GOP struggles over budget concepts
Newsbreak 2 months ago in Around The World, Budget, budget deficit, Debt Ceiling, Finance, House, Kevin McCarthy, Medicare, News, Policy, Social Security, Tom Cole 0 House Republicans are struggling to unify because the celebration tries to hash out a cost-cutting budget technique, creating complications for Speaker Kevin McCarthy (R-Calif.) as he launches high-stakes talks with President Biden over elevating the debt restrict. Republicans charged into the year newly energized with their House majority, and all factions of the convention say they need to take concrete steps to rein in federal…
McCarthy: ‘We won’t touch Medicare or Social Security’
Speaker Kevin McCarthy (R-Calif.) said on Thursday that House Republicans won’t goal Medicare or Social Security in their negotiations over the debt ceiling. “We won’t touch Medicare or Social Security,” he told Donald Trump Jr. in an interview in the Speaker’s workplace for Trump’s “Triggered” podcast. The comment comes as some House Republicans have been eyeing entitlement applications as a possible goal for trimming down…
A Republican House majority will ‘eagerly sow economic chaos’ if Democrats don’t ‘develop a backbone’ and do as much as...
Newsbreak 4 months ago in Around The World, Biden, Chuck Schumer, Debt Ceiling, Dick Durbin, Economy, Elizabeth Warren, lame duck, Policy, Politics, Republicans, Student Debt, Trump, universal childcare 0 U.S. Sen. Elizabeth Warren (D-MA). Win McNamee/Getty Images Sen. Elizabeth Warren referred to as on Democrats to do as much as they can during the lame duck session. She mentioned Republicans will “eagerly sow economic chaos” with a House majority. She referred to as for eliminating the debt ceiling and engaged on different priorities like common childcare. With the purple wave that by no means…
Obama says Republicans are ‘not interested in solving downside,’ but they are ‘interested in making you indignant’
Newsbreak 5 months ago in 2022 elections, Around The World, Barack Obama, Debt Ceiling, Economy, Joe Biden, Mandela Barnes, Medicare, Politics, Republican Party, Ron Johnson, Social Security, Tony Evers, Wisconsin 0 Former President Barack Obama delivers a speech at a Democratic rally in Milwaukee, Wis., on October 29, 2022. AP Photo/Morry Gash Former President Obama mentioned Republicans are disinterested in tackling points affecting actual folks. “Own the libs and getting Donald Trump’s approval. That’s their agenda,” he mentioned on Saturday. Obama made the remarks as he stumped for Gov. Tony Evers and Lt. Gov. Mandela Barnes…
Biden says Republicans want to risk economic chaos by using the debt ceiling to force Medicare and Social Security cuts
Newsbreak 5 months ago in Around The World, Debt Ceiling, Debt Limit, Economy, Mint the Coin, Politics, US debt ceiling, US debt limit 0 President Joe Biden speaks outside Independence Hall, Thursday, Sept. 1, 2022, in Philadelphia. (AP Photo/Matt Slocum) President Joe Biden said that the GOP wants to hold the economy hostage over Social Security and Medicare. If they retake the House, the GOP wants to use debt ceiling negotiations to enact spending cuts. But Biden has ruled out repealing the debt ceiling, despite Democratic pushes. As the…