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May 28 2023
President Biden and House Speaker Kevin McCarthy (R., Calif.) reached an agreement in principle late Saturday night to raise the debt ceiling, and some details of the deal were still emerging. The deal, which comes after several long days of talks, raised the debt ceiling for two years, past the presidential election.
Here are some major components of the deal, according to peopleHotAir
May 28 2023
In one unexpected development, the bill would approve all the remaining permits to complete the stalled Mountain Valley Pipeline, an Appalachian natural gas project that has been a top priority of West Virginia Sens. and . Manchin had tried last year to secure approval of the permit in return for providing the decisive support for Biden’s climate bill — only to see GOP opposition sink hisPolitico
May 25 2023
Congressional Democrats are dreading a potential debt default. They are also dreading a potential debt ceiling deal.
Why it matters: What’s good for President Biden – and the economy – might not feel so good for congressional Democrats, who are largely in the dark on the deal's specifics and concerned they'll be forced to support a bill that eviscerates programs they have longAxios
May 23 2023
Then-House Speaker John Boehner of Ohio before voting on a plan to raise the debt ceiling on Capitol Hill in 2011. The 2011 debt-ceiling imbroglio might not be the best guidebook for how markets will behave through current standoff, but it is the only guidebook investors have. The stock market has been responding to the on-again, off-again debt-ceiling negotiations in a predictable fashion.Wall Street Journal (News)
May 22 2023
The next debt ceiling meeting between President Biden and House Speaker Kevin McCarthy is set for Monday afternoon. But there’s another possible constitutional option that some Democrats are pushing for: using the 14th Amendment. • And, a $29 hot dog in Manhattan is the new symbol for food inflation. Credits: Axios Today is produced by Niala Boodhoo, Fonda Mwangi and Alex Sugiura. Music isAxios
May 15 2023
Ten years ago, when Barack Obama faced down an attempt by House Republicans to extract concessions in return for lifting the debt ceiling, he explained that he saw this tactic as inimical to functioning self-government. “If we continue to set a precedent in which a president … is in a situation in which each time the United States is called upon to pay its bills, the other party can simply sitNew York Magazine
May 11 2023
U.S. Senate Minority Leader Mitch McConnell (R-Ky.), House Speaker Kevin McCarthy (R-Calif.), and President Joe Biden meet with other lawmakers in the Oval Office of the White House in Washington on May 9, 2023. (Anna Moneymaker/Getty Images) President Biden continued to stonewall and insist on an unamended debt ceiling increase (as I wrote in a previous column, calling Biden’s plan “clean” isThe Epoch Times
May 03 2023
Good morning! It’s Wednesday, May 3, 2023. The 2024 elections are 552 days away. Read this newsletter in your browser. If this newsletter was forwarded to you, subscribe here. If you want to contribute to support my work, donate here. Back in January, when the debt ceiling crisis was just beginning to take shape, I outlined the various off-ramps that had been proposed to avoid a defaultWake Up to Politics
Jun 01 2023
President Biden taking questions at the White House on Memorial Day after a debt-ceiling deal had been reached with Republican leaders in principle over the weekend. At the center of the compromise legislation is a two-year suspension of the debt ceiling, which would allow the government to continue borrowing money so that it can pay its bills on time. In exchange for that suspension,New York Times (News)