'Things are looking good': President Biden hopeful on debt ceiling after Treasury warns of June 5 default
1 year, 6 months ago

'Things are looking good': President Biden hopeful on debt ceiling after Treasury warns of June 5 default

Firstpost  

Negotiators are discussing a deal that would lift the limit for two years, but remain at odds over whether to stiffen work requirements for some anti-poverty programs Democratic President Joe Biden and a Republican negotiator said on Friday they were working on a deal to raise the US government’s $31.4 trillion debt ceiling after the Treasury Department warned that a June 5 default loomed without action. “But we have to make sure we have a tax line, we have a line on an agreement - there are significant challenges ahead.” The two spoke, separately, shortly after US Treasury Secretary Janet Yellen said the government would run short of money to pay its bills on June 5. Negotiators are discussing a deal that would lift the limit for two years, but remain at odds over whether to stiffen work requirements for some anti-poverty programs. Right-wing Republicans have insisted that any deal must include steep spending cuts, while Democrats have resisted the new work requirements for benefits programs.

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History of this topic

Medicare and Social Security go-broke dates are pushed back in a ‘measure of good news’
7 months, 2 weeks ago

Medicare and Social Security go-broke dates are pushed back in a ‘measure of good news’

Associated Press  

WASHINGTON — The go-broke dates for Medicare and Social Security have been pushed back as an improving economy has contributed to changed projected depletion dates, according to the annual Social Security and Medicare trustees report Monday. Meanwhile, Social Security’s trust funds — which cover old age and disability recipients — will be unable to pay full benefits beginning in 2035, …

Social Security, Medicare, and 2024: House Republicans proposed wildly unpopular cuts to entitlement programs—and President Biden pounced.
54 years, 11 months ago

Social Security, Medicare, and 2024: House Republicans proposed wildly unpopular cuts to entitlement programs—and President Biden pounced.

Slate  

Does Joe Biden have a little momentum? Recently, both Trump and Republican members of Congress have generously taken to making Biden’s case for him—grabbing the third rail of American politics with both hands by pledging to cut beloved entitlement programs like Social Security and Medicare. It calls for raising the eligibility age for Social Security, a major benefit cut; overhauling …

Republicans rip Biden's 'reckless' $7.3 trillion budget that will 'accelerate America's decline': Top GOP members says plan is a 'another example of disregard for fiscal responsibility'
9 months, 1 week ago

Republicans rip Biden's 'reckless' $7.3 trillion budget that will 'accelerate America's decline': Top GOP members says plan is a 'another example of disregard for fiscal responsibility'

Daily Mail  

House Republican leadership tore into President Biden's new budget plan for fiscal year 2025, deeming it a 'roadmap to accelerate America's decline.' House Republican leadership tore into President Biden's new budget plan for fiscal year 2025, deeming it a 'roadmap to accelerate America's decline' The White House plans to pay for its ambition agenda - which includes $3 billion for …

Debt deal imposes new work requirements for food aid and that frustrates many Democrats
1 year, 6 months ago

Debt deal imposes new work requirements for food aid and that frustrates many Democrats

The Independent  

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Biden set to sign debt ceiling bill that averts prospect of unprecedented federal default
1 year, 6 months ago

Biden set to sign debt ceiling bill that averts prospect of unprecedented federal default

The Hindu  

President Joe Biden is expected to sign legislation on Saturday to raise the debt ceiling, dodging Monday's deadline when the Treasury warned that the United States would start running short of cash to pay all its bills. The agreement was hashed out by Mr. Biden and House Speaker Kevin McCarthy, giving Republicans some of their demanded federal spending cuts but …

Biden celebrates a ‘crisis averted’ in Oval Office address on bipartisan debt ceiling deal
1 year, 6 months ago

Biden celebrates a ‘crisis averted’ in Oval Office address on bipartisan debt ceiling deal

Associated Press  

WASHINGTON — President Joe Biden celebrated a “crisis averted” in his first speech to the nation from the Oval Office Friday evening, ready to sign a budget agreement that eliminates the potential for an unprecedented government default that he said would have been catastrophic for the U.S. and global economies. “We averted an economic crisis and an economic collapse.” Biden …

Just Days To Spare, Senate Gives Final Approval To Debt Ceiling Deal, Sending It To Biden
1 year, 6 months ago

Just Days To Spare, Senate Gives Final Approval To Debt Ceiling Deal, Sending It To Biden

Huff Post  

LOADING ERROR LOADING WASHINGTON — Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the bipartisan deal and send it to President Joe Biden's desk to become law before the fast-approaching deadline. Senate Majority Leader Chuck Schumer said the bill's …

After Calling Joe Biden Senile, Republicans Complain He Outsmarted Them
1 year, 6 months ago

After Calling Joe Biden Senile, Republicans Complain He Outsmarted Them

Huff Post  

LOADING ERROR LOADING WASHINGTON ― In March, House Speaker Kevin McCarthy’s colleagues laughed as the California Republican mocked President Joe Biden’s age, saying he would bring Biden “soft food” so they could negotiate over the debt ceiling. “Republicans got outsmarted by a President who can’t find his pants,” Rep. Nancy Mace tweeted on Tuesday, making clear she opposed the compromise …

Here’s what’s in, what’s out of the debt limit bill to avert US default
1 year, 6 months ago

Here’s what’s in, what’s out of the debt limit bill to avert US default

Associated Press  

WASHINGTON — President Joe Biden and House Speaker Kevin McCarthy have been working the phones in an intense push to sell Congress on the 99-page bill that would suspend the nation’s debt limit through 2025 to avoid a federal default while limiting government spending. With the details of the deal now released, here’s what’s in and out: TWO-YEAR DEBT LIMIT …

Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government
1 year, 6 months ago

Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government

Associated Press  

WASHINGTON — Even with the new spending restraints in the debt limit deal that cut borrowing by $1.5 trillion, the U.S. government’s deficits are still on course to keep climbing to record levels over the next few decades. “This debt limit agreement is shaking out to be a political face-saving deal without much substance in terms of changing the U.S. …

‘It Rewards The Hostage-Taking’: Progressives Fume At Biden's Deal With GOP
1 year, 6 months ago

‘It Rewards The Hostage-Taking’: Progressives Fume At Biden's Deal With GOP

Huff Post  

LOADING ERROR LOADING WASHINGTON — Progressive lawmakers are seething at President Joe Biden’s deal with House Republicans for raising the debt ceiling, warning that it could normalize taking the nation’s economy hostage for years to come. The Republicans are demanding changes that they cannot get through the ordinary democratic process because they’re not supported by the American people.” “The minute …

House approves the Biden-McCarthy debt ceiling bill as default deadline looms
1 year, 6 months ago

House approves the Biden-McCarthy debt ceiling bill as default deadline looms

NPR  

House approves the Biden-McCarthy debt ceiling bill as default deadline looms Enlarge this image toggle caption Drew Angerer/Getty Images Drew Angerer/Getty Images House lawmakers have passed a piece of compromise legislation brokered between President Biden and House Speaker Kevin McCarthy to avoid an unprecedented debt default with just days to spare. But sitting with one House, with a Democratic Senate …

Opinion: The debt ceiling deal’s ‘work requirements’ really just take food away from poor people
1 year, 6 months ago

Opinion: The debt ceiling deal’s ‘work requirements’ really just take food away from poor people

LA Times  

President Biden and House Republicans’ tentative deal to raise the debt ceiling makes cuts in domestic spending that are likely to disproportionately hurt low-income and other vulnerable people. The media have lazily echoed Republicans’ characterizations of the proposed new restrictions on nutritional assistance as “work requirements.” They are not. President Clinton’s welfare reform ushered in a new kind of “work …

Biden says final US debt ceiling deal ready for Congress vote
1 year, 6 months ago

Biden says final US debt ceiling deal ready for Congress vote

Al Jazeera  

US president and House Speaker Kevin McCarthy confident they will be able to get enough support to avert unprecedented default. United States President Joe Biden has finalised an agreement with House Speaker Kevin McCarthy to raise the debt ceiling over two years until January 1, 2025, saying the deal is ready to move to Congress for a vote. “Takes the …

US debt ceiling deal: What’s in, what’s out of the bill
1 year, 6 months ago

US debt ceiling deal: What’s in, what’s out of the bill

Al Jazeera  

The Democratic president and Republican speaker are trying to win over lawmakers to the plan in time to avert a default. The debt-ceiling deal between President Joe Biden and House Speaker Kevin McCarthy would suspend the United States’ debt limit through 2025 to avoid a federal default while limiting government spending, but its details are unlikely to be popular with …

Here’s what’s in Biden-McCarthy’s deal to raise the debt limit
1 year, 6 months ago

Here’s what’s in Biden-McCarthy’s deal to raise the debt limit

LA Times  

Speaker of the House Kevin McCarthy departs after speaking to members of the media gathered in the National Statuary Hall at the U.S. Capitol on Wednesday in Washington, D.C. Over the weekend, President Biden and House Speaker Kevin McCarthy announced a deal to increase the government’s debt limit, enabling the nation to avoid a debt default and economic turmoil. Speaking …

Joe Biden Agrees To Stricter Work Requirements To Avoid Default
1 year, 6 months ago

Joe Biden Agrees To Stricter Work Requirements To Avoid Default

Huff Post  

LOADING ERROR LOADING WASHINGTON — Democrats appear set to swallow stricter work requirements for safety net programs and even a minor rollback of a key part of their signature legislative accomplishment in order to avoid a cataclysmic economic default and raise the debt limit for the next two years under a deal negotiated and blessed by President Joe Biden’s White …

Here's What's In The Deal To Raise The Debt Ceiling
1 year, 6 months ago

Here's What's In The Deal To Raise The Debt Ceiling

Huff Post  

LOADING ERROR LOADING WASHINGTON — President Joe Biden and House Speaker Kevin McCarthy have reached an agreement in principle on legislation to increase the nation’s borrowing authority and avoid a federal default. A look at what’s in and out of the deal, based on what’s known so far: TWO-YEAR DEBT INCREASE, SPENDING LIMITS The agreement would keep nondefense spending roughly …

Biden, McCarthy reach tentative deal to raise debt ceiling, avoid calamitous U.S. default
1 year, 6 months ago

Biden, McCarthy reach tentative deal to raise debt ceiling, avoid calamitous U.S. default

The Hindu  

President Joe Biden and House Speaker Kevin McCarthy reached an “agreement in principle” to raise the nation's legal debt ceiling late on Saturday as they raced to strike a deal to limit federal spending and avert a potentially disastrous U.S. default. Mr. Biden called the agreement “good news for the American people, because it prevents what could have been a …

Biden, GOP reach tentative deal to raise debt ceiling, avoid calamitous US default
1 year, 6 months ago

Biden, GOP reach tentative deal to raise debt ceiling, avoid calamitous US default

Associated Press  

WASHINGTON — President Joe Biden and House Speaker Kevin McCarthy reached an “agreement in principle” to raise the nation’s legal debt ceiling late Saturday as they raced to strike a deal to limit federal spending and avert a potentially disastrous U.S. default. Biden called the agreement “good news for the American people, because it prevents what could have been a …

Biden, GOP Reach Tentative Deal To Raise Debt Ceiling, Avoid Calamitous US Default
1 year, 6 months ago

Biden, GOP Reach Tentative Deal To Raise Debt Ceiling, Avoid Calamitous US Default

Huff Post  

LOADING ERROR LOADING WASHINGTON — President Joe Biden and House Speaker Kevin McCarthy reached an “agreement in principle” to raise the nation’s legal debt ceiling late Saturday as they raced to strike a deal to limit federal spending and avert a potentially disastrous U.S. default. Biden called the agreement “good news for the American people, because it prevents what could …

Biden says debt deal ‘very close’ with default deadline now set at June 5
1 year, 6 months ago

Biden says debt deal ‘very close’ with default deadline now set at June 5

Associated Press  

WASHINGTON — President Joe Biden said a deal to resolve the government’s debt ceiling crisis seemed “very close” late Friday, even as the deadline for a potentially catastrophic default was pushed back to June 5 and seemed likely to drag negotiations between the White House and Republicans into another frustrating week. As talks pushed into another late night, one of …

Biden and McCarthy reach last-minute deal to raise U.S. debt limit
1 year, 6 months ago

Biden and McCarthy reach last-minute deal to raise U.S. debt limit

LA Times  

President Biden and House Speaker Kevin McCarthy reached what both men called an “agreement in principle” on Saturday to raise the federal government’s borrowing limit and cut some spending, as they sought to end a months-long stalemate that brought the government to the brink of defaulting on its credit for the first time. McCarthy said that he and Biden had …

Biden says debt ceiling deal 'very close.' Here's why it remains elusive
1 year, 6 months ago

Biden says debt ceiling deal 'very close.' Here's why it remains elusive

NPR  

Biden says debt ceiling deal 'very close.' Here's why it remains elusive Enlarge this image toggle caption Chip Somodevilla/Getty Images Chip Somodevilla/Getty Images White House and GOP negotiators are entering the weekend without a deal to stop the country from defaulting on its loans, despite President Biden saying the two sides are "very close." Republicans are Sponsor Message Moments after …

Biden, McCarthy to speak on debt limit; talks stalled as Republicans seek deep spending cuts
1 year, 7 months ago

Biden, McCarthy to speak on debt limit; talks stalled as Republicans seek deep spending cuts

Associated Press  

HIROSHIMA, Japan — President Joe Biden planned on Sunday to speak directly with House Speaker Kevin McCarthy, hoping to salvage talks to raise the debt limit that have stalled in recent days while he was abroad at the Group of Seven summit. “We’re going to get a chance to talk later today,” Biden said of McCarthy, R-Calif., while the president …

Column: Debt ceiling negotiations were hard when Biden was vice president. They’re even harder now
1 year, 7 months ago

Column: Debt ceiling negotiations were hard when Biden was vice president. They’re even harder now

LA Times  

Senate Republican leader Mitch McConnell, House Speaker Kevin McCarthy and Senate Democratic leader Charles E. Schumer, from left, visit with President Biden in the Oval Office earlier this month before a meeting on the debt limit. For a brief moment last week, it was possible to imagine that President Biden and House Speaker Kevin McCarthy had found a patch of …

Debt limit talks seem to make little headway as Biden, world leaders watch from afar for progress
1 year, 7 months ago

Debt limit talks seem to make little headway as Biden, world leaders watch from afar for progress

LA Times  

President Biden, attending the G-7 summit in Hiroshima, Japan, on Saturday, says he believes “we’ll be able to avoid a default and we’ll get something decent done.” Debt limit talks between the White House and House Republicans stopped, started and stopped again heading into the weekend, as President Biden and other world leaders watched from afar, hoping high-stakes negotiations would …

Trump tells GOP no deal on debt ceiling unless 'they get everything they want'
1 year, 7 months ago

Trump tells GOP no deal on debt ceiling unless 'they get everything they want'

Raw Story  

Former President Donald Trump on Friday piled pressure on House Speaker Kevin McCarthy to default on the national debt and wreck the American economy unless Democrats cave and give Republicans "everything they want." In an all-caps Truth Social post, the former president laid out a stark choice for Republicans as they try to negotiate a way to raise the national …

Biden, McCarthy push forward towards deal on US debt ceiling
1 year, 7 months ago

Biden, McCarthy push forward towards deal on US debt ceiling

India Today  

President Joe Biden and top US congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default. READ | As US debt crisis peaks, Biden to skip Australia, Papua New Guinea trip; only to attend G7 summit in Japan Republicans, who control …

New work requirements for federal aid? GOP pushes proposals in debt talks
1 year, 7 months ago

New work requirements for federal aid? GOP pushes proposals in debt talks

Associated Press  

WASHINGTON — Work requirements for federal aid programs have emerged as a sticking point in ongoing negotiations over raising the nation’s debt ceiling, and President Joe Biden has signaled openness to a possible compromise even as many in his party have balked. Legislation passed by the House in April would impose new or expanded work requirements for three federal programs …

Biden Signals Willingness To Accept Changes To Work Requirements For Debt Limit Deal
1 year, 7 months ago

Biden Signals Willingness To Accept Changes To Work Requirements For Debt Limit Deal

Huff Post  

LOADING ERROR LOADING WASHINGTON — President Joe Biden on Wednesday signaled a willingness to accept changes to welfare work requirements to win Republican approval of a debt limit increase. He added, though, that he would reject “any work requirement that’s going to impact on medical health needs of people,” and said the changes could not be “anything of any consequence.” …

How A House Republican Pitched Joe Biden On SNAP Work Requirements
1 year, 7 months ago

How A House Republican Pitched Joe Biden On SNAP Work Requirements

Huff Post  

LOADING ERROR LOADING WASHINGTON — Republicans have said for months that they want stricter “work requirements” for federal benefits as a way to save government money and shove layabouts into jobs. Progressives have pushed back and Biden has said he’ll fight changes that make people poorer, though he hasn’t definitively ruled out including work requirements in a final deal. In …

Smirking Biden says 'we're having a wonderful time' at start of debt talks
1 year, 7 months ago

Smirking Biden says 'we're having a wonderful time' at start of debt talks

Daily Mail  

Biden, McCarthy, Jeffries, Schumer and McConnell all met at the White House Tuesday afternoon, along with VP Harris The Treasury Department reiterated Monday that they still believe the day the nation could run out of funds to pay its bills could be as soon as June 1 President Biden's trip across the globe in the middle of crucial debt ceiling …

Job cuts, no Social Security checks: How consumers could be pinched by a US government default
1 year, 7 months ago

Job cuts, no Social Security checks: How consumers could be pinched by a US government default

Associated Press  

WASHINGTON — All the hand-wringing in Washington over raising the debt limit can seem far removed from the lives of everyday Americans, but they could end up facing huge consequences. The bill would also reclaim billions of unspent COVID-19 funding, eliminate clean energy tax credits Biden signed into law last year and reverse his student debt forgiveness and repayment plan. …

McCarthy demands work requirements on ‘all the programs’ including Social Security, Medicare, Medicaid, and SNAP
1 year, 7 months ago

McCarthy demands work requirements on ‘all the programs’ including Social Security, Medicare, Medicaid, and SNAP

Raw Story  

Republican Speaker of the House Kevin McCarthy is under fire after announcing Tuesday he is demanding work requirements for "all" social safety net programs as part of his debt ceiling "negotiations" with President Joe Biden. "What work requirements actually do is help people get a job," he told reporters. Work requirements do nothing to "help" people get jobs, they simply …

Progressives Warn Joe Biden Over Debt Limit Concessions
1 year, 7 months ago

Progressives Warn Joe Biden Over Debt Limit Concessions

Huff Post  

LOADING ERROR LOADING WASHINGTON — Progressive groups and lawmakers are growing anxious about President Joe Biden’s negotiations with congressional Republicans, sounding alarms about the impact of potential cuts to programs for low-income Americans. “We have made clear publicly and privately that not just work requirements but spending cuts, broad spending cuts, these are off the table,” Rep. Pramila Jayapal, the …

Debt ceiling: McCarthy says ‘no progress’ ahead of talks Tuesday with Biden
1 year, 7 months ago

Debt ceiling: McCarthy says ‘no progress’ ahead of talks Tuesday with Biden

Associated Press  

WASHINGTON — House Speaker Kevin McCarthy said Monday there’s been “no progress” on debt ceiling talks ahead of a meeting with President Joe Biden on Tuesday at the White House, as the country pushes closer to a crisis over the need to raise its legal borrowing limit. Ahead of Biden’s trip, National Security Council spokesman John Kirby said that so …

"Pretty troubling": Progressives raise concerns over White House comments on spending cuts
1 year, 7 months ago

"Pretty troubling": Progressives raise concerns over White House comments on spending cuts

Salon  

This article originally appeared at Common Dreams. After meeting with congressional leaders earlier this week as the U.S. barrels toward a catastrophic debt default, President Joe Biden said that "we should be cutting spending," a remark that fueled concerns among progressives that the White House is preparing to cede to at least some Republican demands in exchange for a deal …

Debt limit fight: Biden meeting with Congress leaders put off until next week; staff talks proceed
1 year, 7 months ago

Debt limit fight: Biden meeting with Congress leaders put off until next week; staff talks proceed

Associated Press  

WASHINGTON — President Joe Biden’s meeting Friday with congressional leaders on the debt limit crisis was abruptly postponed to next week, with staff-level talks making progress and expected to continue through the weekend, the White House and congressional aides said Thursday. “I say to the Republicans out there — congressmen, senators — if they don’t give you massive cuts, you’re …

Biden warns ‘millions of jobs’ at risk if debt ceiling not raised
1 year, 7 months ago

Biden warns ‘millions of jobs’ at risk if debt ceiling not raised

Al Jazeera  

US president accuses Republicans of holding economy hostage by demanding spending cuts to raise debt limit. United States President Joe Biden has warned the economy could enter a recession and shed millions of jobs unless Republicans agree to raise the country’s $31.4 trillion debt ceiling before a fast-approaching deadline. In a campaign-style speech in a swing district in New York …

Debt options abound, but can Biden, McCarthy strike a deal?
1 year, 7 months ago

Debt options abound, but can Biden, McCarthy strike a deal?

Associated Press  

WASHINGTON — The White House and Congress could strike a deal to raise the debt ceiling in exchange for budget cuts. As President Joe Biden meets Tuesday with House Speaker Kevin McCarthy and other congressional leaders for the first time over the debt ceiling crisis, the options for easing out of the standoff are many. More likely, Democratic president Biden …

US debt-ceiling: Biden, McCarthy aim to break standoff as default crisis looms
1 year, 7 months ago

US debt-ceiling: Biden, McCarthy aim to break standoff as default crisis looms

Live Mint  

President Joe Biden and top Republicans and Democrats from Congress are set to sit down this week to try to resolve a three-month standoff over the $31.4 trillion US debt ceiling and avoid a crippling default before the end of May. Biden is due to meet on Tuesday at the White House with McCarthy for the first time since Feb. …

US Treasury says government may default on debt as early as June
1 year, 7 months ago

US Treasury says government may default on debt as early as June

Al Jazeera  

United States Treasury Secretary Janet Yellen has sent a letter to Republican House Speaker Kevin McCarthy warning him that the federal government could hit its spending limit by June 1 if Congress does not raise the debt ceiling. Though Yellen’s letter indicates the US could enter default as early as June 1, the treasury secretary also noted that it is …

US House of Representatives passes debt bill, faces Biden veto
1 year, 7 months ago

US House of Representatives passes debt bill, faces Biden veto

Al Jazeera  

The Biden administration has called on House Speaker McCarthy to instead raise the debt ceiling ‘without conditions’. The Republican-led House of Representatives has passed a bill that would boost the United States’s $31.4 trillion federal debt ceiling in exchange for slashing government spending, including programmes championed by Democratic President Joe Biden. But the bill’s success in the Congress’s lower chamber …

The stark differences in Biden and McCarthy’s debt limit fight
1 year, 7 months ago

The stark differences in Biden and McCarthy’s debt limit fight

Associated Press  

WASHINGTON — They’re not quibbling about minor points. PLAYING CHICKEN McCarthy wants House Republicans to vote this week on a proposal that would shave an estimated $4.8 trillion off deficits, mostly through spending caps on “discretionary spending.” By having the House pass his plan, McCarthy hopes to goad Biden into negotiations. This is the simple summary of what McCarthy has …

'Work or die': Kevin McCarthy sneaks Matt Gaetz's Medicaid plan into debt ceiling bill
1 year, 8 months ago

'Work or die': Kevin McCarthy sneaks Matt Gaetz's Medicaid plan into debt ceiling bill

Raw Story  

House Speaker Kevin McCarthy appears to have granted a request from Rep. Matt Gaetz to include work requirements for Medicaid in a bill that would raise the nation's debt limit. NBC News reported that McCarthy might not have enough Republican votes to pass the Limit, Save, Grow Act of 2023, a 320-page bill that would raise the debt ceiling at …

Biden Says McCarthy's Debt Plan Demands ‘Huge Cuts’ to Programs Helping Americans in Need
1 year, 8 months ago

Biden Says McCarthy's Debt Plan Demands ‘Huge Cuts’ to Programs Helping Americans in Need

News 18  

House Speaker Kevin McCarthy worked furiously Tuesday to build support for a Republican plan that would demand strict limits to federal spending in return for agreeing to raise the nation’s debt limit and stave off an unprecedented US default. But President Joe Biden swiftly swatted down the plan, which would cap much federal spending at increases of 1% a year, …

Kevin McCarthy to Wall Street: GOP will hold economy hostage to cut aid programs
1 year, 8 months ago

Kevin McCarthy to Wall Street: GOP will hold economy hostage to cut aid programs

Salon  

This article originally appeared at Common Dreams. U.S. House Speaker Kevin McCarthy told the New York Stock Exchange on Monday that his caucus will not pass legislation to raise the debt ceiling unless it includes steep federal spending cuts and work requirements for key aid programs, a position that Democratic lawmakers slammed as dangerous and foolish hostage-taking. "Speaker McCarthy went …

US House won't raise debt limit without spending cuts, says Republican leader Kevin McCarthy
1 year, 8 months ago

US House won't raise debt limit without spending cuts, says Republican leader Kevin McCarthy

Firstpost  

McCarthy, a close ally of former president Donald Trump, said President Joe Biden’s policies added trillions of dollars of debt to the US fiscal portfolio, which he argued had also caused the inflation crisis New York, United States: Ahead of budget talks with President Joe Biden, Republican leader Kevin McCarthy said on Monday that the US House would not support …

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