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 far, “we are still planning to leave as scheduled.” The president remained hopeful that an agreement could be reached with McCarthy and other congressional leaders when they meet to avoid what would be an unprecedented debt default, which could trigger a financial catastrophe. But Yellen assessment leaves some opening for a possible time extension on a national default, stating that “the actual date Treasury exhausts extraordinary measures could be a number of days or weeks later than these estimates.” She said she would update Congress next week “as more information becomes available.” Aides said talks had continued throughout the weekend. I would characterize the engagement as serious, as constructive,” Lael Brainard, head of the White House’s National Economic Council, said on CBS’ “Face the Nation.” McCarthy has insisted on using the threat of defaulting on the nation’s debts to wrangle spending changes, arguing that the federal government can’t continue to spend money at the pace it is now.

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History of this topic

Joe Biden signs bills to avert shutdown, ending days of political turmoil in Washington
3 days, 20 hours ago

Joe Biden signs bills to avert shutdown, ending days of political turmoil in Washington

India Today  

President Joe Biden on Saturday signed legislation that averts a government shutdown heading into Christmas, bringing a final close to days of upheaval in Washington after Congress passed a bipartisan budget plan just past the deadline and rejected Donald Trump’s core demand in the negotiations. House Speaker Mike Johnson, R-La., had insisted lawmakers would “meet our obligations” and not allow …

House approves funding bill, sends to Senate hours before government shutdown deadline
3 days, 20 hours ago

House approves funding bill, sends to Senate hours before government shutdown deadline

New Indian Express  

The new 118-page package would fund the government at current levels through March and adds $100 billion in disaster aid and $10 billion in agricultural assistance to farmers. The federal debt limit expires Jan. 1, and Trump doesn't want the first months of his new administration saddled with tough negotiations in Congress to lift the nation's borrowing capacity. “Congress must …

McCarthy rejects Senate spending bill while scrambling for a House plan that averts a shutdown
1 year, 2 months ago

McCarthy rejects Senate spending bill while scrambling for a House plan that averts a shutdown

Associated Press  

WASHINGTON — A government shutdown appeared all but inevitable as House Speaker Kevin McCarthy dug in Thursday, vowing he will not take up Senate legislation designed to keep the federal government fully running despite House Republicans’ struggle to unite around an alternative. I’ve got time to do other things,” McCarthy told reporters Thursday evening at the Capitol, adding, “At the …

Speaker McCarthy is giving hard-right Republicans what they want. But it never seems to be enough.
1 year, 3 months ago

Speaker McCarthy is giving hard-right Republicans what they want. But it never seems to be enough.

Associated Press  

WASHINGTON — Staring down a fast-approaching government shutdown that threatens to disrupt life for millions of Americans, Speaker Kevin McCarthy has turned to a strategy that so far has preserved his tenuous hold on House leadership but also marked it by chaos: giving hard-right lawmakers what they want. “Because shutting down — and having border agents not be paid, your …

Kevin McCarthy and House Republicans will own this shutdown
1 year, 3 months ago

Kevin McCarthy and House Republicans will own this shutdown

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Back in …

Angry and frustrated, McCarthy challenges right-flank colleagues to try to oust him from his post
1 year, 3 months ago

Angry and frustrated, McCarthy challenges right-flank colleagues to try to oust him from his post

Associated Press  

WASHINGTON — Angry, frustrated and unable to lead a fractured and unruly Republican majority, House Speaker Kevin McCarthy on Thursday told the colleagues threatening to oust him: Do it. A top Trump ally, Gaetz reiterated the conservative flank’s many demands after McCarthy’s meeting — single-subject spending bills, a subpoena for Hunter Biden in the impeachment inquiry and other priorities. “Kevin …

McCarthy facing revolt from 'fed up' moderates for letting extremists hold the party 'hostage'
1 year, 3 months ago

McCarthy facing revolt from 'fed up' moderates for letting extremists hold the party 'hostage'

Raw Story  

With budget negotiations heating up and the far-right Republican Party House members clamoring for impeachment hearings on President Joe Biden, House Speaker Kevin McCarthy is entering the most fraught period of his already tenuous speakership. Now, according to a new report from Politico, the threat to his leadership is coming from GOP moderates who are furious with the California Republican …

Opinion: Watch as Kevin McCarthy puts on 'impeachment theater' while the government teeters
1 year, 3 months ago

Opinion: Watch as Kevin McCarthy puts on 'impeachment theater' while the government teeters

LA Times  

House Speaker Kevin McCarthy holds a news conference at the Capitol in Washington as the House prepares to leave for its August recess. Last spring House Speaker Kevin McCarthy rightly got props from folks across the political spectrum, myself included, for compromising with President Biden to raise the nation’s debt limit and thereby avert economic armageddon. As Florida Man Rep. …

A House impeachment inquiry of President Biden is a ‘natural step forward,’ Speaker McCarthy says
1 year, 3 months ago

A House impeachment inquiry of President Biden is a ‘natural step forward,’ Speaker McCarthy says

Associated Press  

PHOENIX — Speaker Kevin McCarthy suggested Sunday that an impeachment inquiry of President Joe Biden was becoming more likely, calling it “a natural step forward” as Congress soon ends its summer break and House Republicans seek to expand their investigative powers. Meanwhile, McCarthy said passing a short-term spending bill to keep the government running past the end of September would …

Hard-line conservatives demand concessions from House Speaker McCarthy in debt-ceiling standoff
1 year, 6 months ago

Hard-line conservatives demand concessions from House Speaker McCarthy in debt-ceiling standoff

Hindustan Times  

Hard-line conservatives angered by House Speaker Kevin McCarthy’s debt-ceiling deal are demanding power-sharing and budget-cutting concessions from him in exchange for allowing legislation to move on the House floor. U.S. House Speaker Kevin McCarthy speaks to reporters on Capitol Hill in Washington, U.S., June 8, 2023. REUTERS/Amanda Andrade-Rhoades/ In agreeing Monday to temporarily lift a nearly week-long blockade of the …

GOP conservatives shutter House to protest McCarthy-Biden debt deal, setting up next budget brawl
1 year, 6 months ago

GOP conservatives shutter House to protest McCarthy-Biden debt deal, setting up next budget brawl

Associated Press  

WASHINGTON — In fallout from the debt ceiling deal, Speaker Kevin McCarthy is suddenly confronting a new threat to his power as angry hard-right conservatives bring the House chamber to a halt, reviving their displeasure over the compromise struck with President Joe Biden and demanding deeper spending cuts ahead. It’s all setting the stage for a potentially disastrous showdown ahead, …

House conservatives block GOP bills, voice frustration in response to last week’s debt ceiling vote
1 year, 6 months ago

House conservatives block GOP bills, voice frustration in response to last week’s debt ceiling vote

Associated Press  

WASHINGTON — House conservatives staged a mini-revolt Tuesday in retaliation for Speaker Kevin McCarthy’s leadership on last week’s vote to raise the debt ceiling, the right wing banding together to block progress on a mixture of bills and vent their frustration. “The debt limit last week displayed just how far House Republicans have come as a team.” What led the …

Biden signs debt ceiling bill that pulls US back from brink of unprecedented default
1 year, 6 months ago

Biden signs debt ceiling bill that pulls US back from brink of unprecedented default

Associated Press  

WASHINGTON — With just two days to spare, President Joe Biden signed legislation on Saturday that lifts the nation’s debt ceiling, averting an unprecedented default on the federal government’s debt. Instead of holding a public ceremony with lawmakers from both parties — showcasing the bipartisanship that Biden had cited in an Oval Office address on Friday evening — the president …

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 signs debt ceiling bill, pulling US from brink of default
1 year, 6 months ago

Biden signs debt ceiling bill, pulling US from brink of default

Al Jazeera  

With just two days to spare, President Joe Biden has signed legislation that lifts the nation’s debt ceiling, averting an economically disastrous default on the federal government’s debt. “We’re protecting important priorities from Social Security to Medicare to Medicaid to veterans to our transformational investments in infrastructure and clean energy.” Even as he pledged to continue working with Republicans, Biden …

5 Takeaways From The Debt Ceiling Drama
1 year, 6 months ago

5 Takeaways From The Debt Ceiling Drama

Huff Post  

LOADING ERROR LOADING WASHINGTON ― President Joe Biden will sign the Fiscal Responsibility Act into law on Saturday, capping weeks of congressional drama with a surprisingly dull end to a standoff that risked a worldwide economic catastrophe. Both sides kept their word.” The painstaking negotiations that drove headlines in Washington for months revealed several things about Republicans, Democrats and Biden’s …

'Stuff it': Debt deal showed GOP has the 'power to defeat the MAGA wing nuts'
1 year, 6 months ago

'Stuff it': Debt deal showed GOP has the 'power to defeat the MAGA wing nuts'

Raw Story  

Something strange and hopeful happened this week, wrote Dana Milbank for The Washington Post. House Speaker Kevin McCarthy, having cut a surprisingly balanced debt ceiling deal with President Joe Biden, ignored the howling and threats of the far-right flank of his party. "Many of the same House GOP extremists who nearly denied Kevin McCarthy the speakership did their utmost this …

How Biden and McCarthy struck a debt limit deal and staved off a catastrophe
1 year, 6 months ago

How Biden and McCarthy struck a debt limit deal and staved off a catastrophe

Associated Press  

WASHINGTON — It was advice that Mitch McConnell had offered to Joe Biden once already: To resolve the debt limit standoff, he needed to strike a deal with House Speaker Kevin McCarthy — and McCarthy alone. I told you then, it’s not how you start, it’s how you finish.” This account of the weeks-long saga of how Washington defused the …

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

Associated Press  

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 ahead of voting that the …

Underestimated McCarthy emerges from debt deal empowered as speaker, still threatened by far right
1 year, 6 months ago

Underestimated McCarthy emerges from debt deal empowered as speaker, still threatened by far right

Associated Press  

WASHINGTON — House Speaker Kevin McCarthy is nothing if not a political survivor. And perhaps most importantly for McCarthy, who has worked hard to maintain a relationship with Donald Trump, the former president gave a subdued nod of approval to the deal struck by the ally he used to affectionately call “My Kevin.” “I would have taken the default if …

Explained: How 'odd pair', Joe Biden and Kevin McCarthy, helped avert US debt default
1 year, 6 months ago

Explained: How 'odd pair', Joe Biden and Kevin McCarthy, helped avert US debt default

Firstpost  

Like bomb squad technicians who just snipped the last wire on a ticking device, Joe Biden and top Republican Kevin McCarthy are breathing a sigh of relief after reaching a deal on the US debt ceiling. On 27 May 2023, Biden and McCarthy reached a debt ceiling deal to avert US default. Biden is a Democratic president running for re-election …

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 …

McCarthy proved he’s a stronger House speaker than many expected. But GOP is split over cutting government
1 year, 6 months ago

McCarthy proved he’s a stronger House speaker than many expected. But GOP is split over cutting government

LA Times  

House Speaker Kevin McCarthy leaves the chamber Wednesday after winning a crucial procedural vote on the debt ceiling and budget package he negotiated with President Biden. A win, but with limits By parceling out significant authority to each of the major factions in the House majority — the “five families,” as Republicans have taken to calling them — McCarthy gave …

What is the US debt ceiling and what is in the Biden-McCarthy deal?
1 year, 6 months ago

What is the US debt ceiling and what is in the Biden-McCarthy deal?

The Telegraph  

What is the US debt ceiling? Congress passes new spending bills that will increase the debt level, but the debt ceiling is not raised until it is about to be breached. Past debt ceiling fights have typically ended with a hastily arranged agreement in the final hours of negotiations, thus avoiding a default. “That’s the responsibility of governing.” The agreement …

US debt deal passes House vote: How this is a big win for McCarthy
1 year, 6 months ago

US debt deal passes House vote: How this is a big win for McCarthy

Firstpost  

When the debt limit fight began, it was widely assumed that House Speaker Kevin McCarthy, untested and inexperienced in high-stakes negotiations, would either preside over an economically and politically calamitous government default or lose his hard-won post in a right-wing mutiny after caving to Democrats. With House approval Wednesday night of the debt-limit package he personally negotiated with President Joe …

House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate
1 year, 6 months ago

House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate

Associated Press  

WASHINGTON — Veering away from a default crisis, the House approved a debt ceiling and budget cuts package late Wednesday, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans against fierce conservative blowback and progressive dissent. Tensions ran high throughout the day as hard-right Republicans refused the deal, while Democrats said “extremist” …

Debt Ceiling Deal Clears House On Bipartisan Vote; Senate Up Next
1 year, 6 months ago

Debt Ceiling Deal Clears House On Bipartisan Vote; Senate Up Next

Huff Post  

LOADING ERROR LOADING The bill to raise the government’s limit on borrowing and trim the federal budget deficit passed the House late Wednesday, leaving the Senate the last obstacle to avoiding a debt default. “We produced a bill that — in divided government — takes a step towards smaller government, less regulation, more economic growth, and more take-home pay,” McCarthy …

US debt ceiling bill passes House with broad bipartisan support
1 year, 6 months ago

US debt ceiling bill passes House with broad bipartisan support

India Today  

A divided US House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition led by hardline conservatives and avoid a catastrophic default. READ | US debt ceiling deal ready to head to Congress, says Biden as cash runs low Republicans control the House by …

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

LA Times  

Days away from a default crisis, the Capitol is illuminated as the Senate works into the night to finish votes on amendments on the big debt ceiling and budget cuts package. 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 …

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 …

‘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 …

House approves bipartisan deal to suspend debt limit, reducing fear of U.S. default
1 year, 6 months ago

House approves bipartisan deal to suspend debt limit, reducing fear of U.S. default

LA Times  

House Speaker Kevin McCarthy leaves the chamber after passage of a crucial procedural vote on the debt ceiling and budget cuts package he negotiated with President Biden. “Democrats voting for the rule because he couldn’t get the vote for the rule.” In a rare demonstration of their differences on policy, the three House Democrats vying to replace Sen. Dianne Feinstein …

House to vote on McCarthy-Biden compromise debt deal, a key test for speaker
1 year, 6 months ago

House to vote on McCarthy-Biden compromise debt deal, a key test for speaker

NPR  

House to vote on McCarthy-Biden compromise debt deal, a key test for speaker Enlarge this image toggle caption Kevin Dietsch/Getty Images Kevin Dietsch/Getty Images After weeks of negotiations between the White House and House Speaker Kevin McCarthy, the House is set to vote Wednesday night on a compromise bill to lift the debt ceiling, as lawmakers race against the clock …

Ahead of House vote, Biden and McCarthy scramble to corral support on debt-limit deal
1 year, 6 months ago

Ahead of House vote, Biden and McCarthy scramble to corral support on debt-limit deal

LA Times  

House Speaker Kevin McCarthy and President Biden are working to drum up enough votes in Congress to pass their debt-limit deal. Hard-fought to the end, the federal debt ceiling and budget cuts package is heading toward a crucial House vote as President Biden and Speaker Kevin McCarthy assemble a coalition of centrist Democrats and Republicans to push it through, past …

Lauren Boebert throws tantrum over debt deal: 'That's the end of Kevin McCarthy's speakership'
1 year, 6 months ago

Lauren Boebert throws tantrum over debt deal: 'That's the end of Kevin McCarthy's speakership'

Raw Story  

Rep. Lauren Boebert on Tuesday did not rule out a motion to vacate the chair in an attempt to remove Kevin McCarthy as speaker over a deal that would raise the U.S. debt ceiling. During an appearance on Steve Bannon's War Room podcast, Boebert accused McCarthy of a "violation" of his promises because amendments were not being allowed in the …

Why McCarthy and Biden both stand to gain from the debt deal — if they can get it passed
1 year, 6 months ago

Why McCarthy and Biden both stand to gain from the debt deal — if they can get it passed

LA Times  

President Biden and House Speaker Kevin McCarthy have different reasons for striking a debt deal, but both men stand to benefit politically. Despite the sharp rhetoric leading up to last weekend’s debt and budget agreement, both House Speaker Kevin McCarthy and President Biden stand to benefit politically. “But we made it clear at the outset of this Congress that we …

Key takeaways from Biden and McCarthy's debt ceiling deal
1 year, 6 months ago

Key takeaways from Biden and McCarthy's debt ceiling deal

Firstpost  

There’s a nervous air in the United States as the deadline to increase the debt ceiling approaches. On Saturday, they reached a crucial agreement to raise the government’s debt ceiling, avoiding a disastrous default. AFP Unspent COVID money The deal would also take back some funding that Congress allocated for the coronavirus pandemic but did not spend. A statement from …

Debt ceiling agreement gets thumbs up from business groups, jeers from some on political right
1 year, 6 months ago

Debt ceiling agreement gets thumbs up from business groups, jeers from some on political right

Associated Press  

WASHINGTON — The reviews are starting to come in as details emerge about the debt ceiling agreement reached by President Joe Biden and House Speaker Kevin McCarthy. Rep. Annie Kuster, D-N.H., and chair of a center-left group known as the New Dems, which has roughly 100 members, said the group is “confident” that White House negotiators delivered a “viable, bipartisan …

Biden and McCarthy reach a final deal to avoid US default and now must sell it to Congress
1 year, 6 months ago

Biden and McCarthy reach a final deal to avoid US default and now must sell it to Congress

Associated Press  

WASHINGTON — With days to spare before a potential first-ever government default, President Joe Biden and House Speaker Kevin McCarthy reached final agreement Sunday on a deal to raise the nation’s debt ceiling and worked to ensure enough support in Congress to pass the measure in the coming week. The package would next go to the Senate, where Republican leader …

Debt ceiling tests Speaker McCarthy as he rides breezily through high-wire act of his career
1 year, 6 months ago

Debt ceiling tests Speaker McCarthy as he rides breezily through high-wire act of his career

Associated Press  

WASHINGTON — One morning during the debt ceiling crisis, House Speaker Kevin McCarthy climbed onto his mountain bike and took a ride along the National Mall, marveling at the monuments. The White House refused initially to engage with McCarthy over the debt ceiling, insisting Congress must simply do its job, raise the nation’s debt limit and skip the political brinksmanship. …

As per your politics, debt ceiling plan is good or a ‘disaster’
1 year, 6 months ago

As per your politics, debt ceiling plan is good or a ‘disaster’

Al Jazeera  

While some of the US Congress’s most conservative members are not happy with the deal, business groups gave it a thumbs-up. She called the debt ceiling agreement a “terrible policy” Sunday on CNN’s State of the Union programme. I told the president that directly, when he called me last week on Wednesday, that this is saying to poor people and …

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 …

Opinion: Don't call the debt-ceiling deal a success. It shouldn't have been a crisis at all
1 year, 6 months ago

Opinion: Don't call the debt-ceiling deal a success. It shouldn't have been a crisis at all

LA Times  

Hous Speaker Kevin McCarthy speaks with reporters about the debt-ceiling negotiations as he arrives at the Capitol on Friday. Here’s what would make this whole mess worth it: Adding a provision to repeal or neutralize the World War I-era law that created the debt limit in the first place. Biden, ever the tradition-bound deal-maker, said last October as Democrats talked …

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

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, McCarthy reach tentative deal to raise US debt ceiling
1 year, 6 months ago

Biden, McCarthy reach tentative deal to raise US debt ceiling

Al Jazeera  

Deal raises debt limit for two years while capping some spending, but uncertainty remains on whether it can pass Congress. US President Joe Biden and House Speaker Kevin McCarthy have reached a tentative deal to raise the federal government’s $3.4 trillion debt ceiling days ahead of a deadline to avert a potentially catastrophic default. The agreement on Saturday would raise …

Column: With debt ceiling deal, GOP reveals its only real goal was cruelty to the poor
1 year, 6 months ago

Column: With debt ceiling deal, GOP reveals its only real goal was cruelty to the poor

LA Times  

House Speaker Kevin McCarthy got very little for his threat to crash the U.S. economy by refusing to increase the debt ceiling. No one should be surprised that the resolution of our most moronic fiscal policy, the federal debt ceiling, involved our stupidest social policy, work requirements for assistance programs. In negotiations between the Biden White House and House Speaker …

'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 …

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 …

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