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May 26 2023
Joe Biden is the new FDR, right? I mean, that’s what we were told over and over again—for years. Time magazine gave us the headline, “How Joe Biden is Positioning Himself as a Modern FDR.” Three months into Biden’s term, CNN chipped in with “Three Striking Similarities Between FDR and Biden.” The New Republic won the most-absurdly-effusive headline contest with “Forget FDR. Biden is a MajorDaily Beast
May 27 2023
House Speaker Kevin McCarthy announced Saturday that he and President Joe Biden had reached a deal in principle to raise the debt limit days ahead of a possible default, marking a major breakthrough in a monthslong impasse over the issue. “After weeks of negotiations, we have come to an agreement in principle.” McCarthy told reporters late Saturday. “We still have a lot of work to do, but IU.S. News & World Report
May 25 2023
Negotiations to prevent the US government from running out of money are headed down to the wire.
The Treasury says Congress must agree to raise the debt ceiling by 1 June or the US will run out of cash to pay its bills, resulting in economic disaster.
Top congressional Republican Kevin McCarthy says his party and the Democrats remain "far apart".
Fitch, one of the bigBBC News
May 23 2023
A version of this story appears in CNN’s What Matters newsletter. To get it in your inbox, sign up for free here. The debt ceiling snafu, which has the potential to wreck the US economy, is a civics lesson in the bizarrely inefficient way the American government spends your money. Here’s the broadest outline of how members of Congress oversee trillions in tax dollars each year and theCNN (Online News)
May 23 2023
A Debt Ceiling Deal Is Near-Term Risk For Stocks Authored by Simon White, Bloomberg macro strategist, Far from being a risk-on stimulus, a debt-ceiling resolution will expose stocks to a correction as the resulting increase in Treasury issuance sucks liquidity from the system. With all the banal inevitability of rain on your day off, debt-ceiling negotiations are threatening to go to the wireZeroHedge
May 22 2023
0047 GMT — Gold prices are steady in the morning Asian session amid the market’s focus on the U.S. debt-ceiling talks. The precious metal is likely to trade in a choppy manner as the so-called X-date approaches, says Edward Moya, senior market analyst at Oanda, in an email. If President Biden and House Speaker McCarthy can get a deal done early this week, this could lead to a decent selloffWall Street Journal (News)
May 19 2023
The debt limit negotiations between GOP negotiators and the White House ended Friday night with no progress after meeting for roughly an hour and a half. And there's no set plans for the next meeting, according to negotiators, who just left the Capitol. "At the direction of the Speaker of the House, we re-engaged, had a very, very candid discussion, talking about where we are, talking aboutABC News (Online)
May 17 2023
Seen from outside Washington, the debt ceiling battle might seem like an abstract argument between the political parties over federal spending and deficits. But for millions of low-income Americans who depend on the federal government for health care and basic nutrition, the debate is about their very lives. That’s because Republicans have singled them out, yet again, as a prime target in thisNew York Times (Opinion)
May 15 2023
In a letter to Congress Monday, Treasury Secretary Janet Yellen urged immediate action to increase the nation’s debt ceiling before June 1 when she estimates the U.S. government will run out of money. “In my May 1 letter, I noted that our best estimate was that Treasury would be unable to continue to satisfy all of the government’s obligations by early June if Congress does not raise orNewsmax (News)
May 09 2023
A majority of voters back House Speaker Kevin McCarthy's plan to increase the debt ceiling and in exchange for lower future deficit spending. Most voters also expect the White House to compromise on the bill, according to a Rasmussen Reports national survey released Tuesday. The results of the poll showed that 57% of likely U.S. voters support the debt-ceiling bill passed by the Republicans inNewsmax (News)