President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) will meet on May 22 for in-person talks on resolving the debt ceiling crisis. Over the weekend, negotiations between representatives from each side stalled as both doubled down on their demands. Rep. Garret Graves (R-La.), the lead negotiator for Republicans, told reporters on May 19 that…
Biden Budget Reduces Amounts for Emergency Requirements: CBO
President Joe Biden’s proposed discretionary budget for 2024 is well below baseline projections for both funding and spending that were estimated by the Congressional Budget Office (CBO). The president’s proposed funding is 4 percent below CBO projections for the year and 12 percent for the coming decade, according to a May 18 report. About 75…
McCarthy Predicts Debt Ceiling Deal to Reach House Next Week
House Speaker Kevin McCarthy (R-Calif.) expects to bring a deal on raising the federal debt ceiling before the House next week, he told reporters on May 18. The positive tone marks a change for the Speaker, who as recently the day before had refused to say he was optimistic about reaching an agreement with President…
Biden Optimistic About Debt Ceiling Deal, Defends Asia Trip
America will not default on its financial obligations and an agreement on spending priorities will be reached in the coming days, President Joe Biden said before departing on a trip to strengthen U.S. relationships with allies. “America is not a deadbeat nation. We pay our bills. The nation has never defaulted on its debt, and…
McCarthy on Debt Ceiling Talks with Biden: ‘A Little More Productive’
President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) have delegated primary negotiations over raising the debt ceiling and cutting spending to trusted surrogates, establishing a clearer process for resolving the standoff between the parties. Steve Richetti, counselor to the president, and Shalanda Young, director of the Office of Management and Budget, will negotiate on…
Biden Hopeful of Debt Ceiling Deal as McCarthy Says Democrats ‘Want a Default’
President Joe Biden is optimistic about reaching an agreement with congressional Republicans on the nation’s debt ceiling. A follow-up meeting between the parties will likely take place on May 16, the president said. House Speaker Kevin McCarthy (R-Calif.) told reporters that Democrats appear to want a default more than they want a solution to the…
Biden to Discuss ‘Inclusive Economic Growth’ During Papua New Guinea Visit: White House
U.S. President Joe Biden will visit Papua New Guinea (PNG) later this month to discuss cooperation in advancing “inclusive economic growth” with the Pacific nation, the White House has confirmed. Biden will stop in PNG while traveling from Japan—where he will attend the G7 Leaders’ summit—to Australia for a Quad Leaders’ meeting on May 24,…
IN-DEPTH: Both Democrats and Republicans Think They Have Public On Their Side In Debt Fight—Why They’re Wrong
The political standoff over raising the federal debt ceiling, now in its fourth month, has brought the country within four weeks of defaulting on its financial obligations. As the impasse has become an exercise in political brinksmanship, both Republicans and Democrats appear to be betting that public opinion is on their side. They’re both right…
IN-DEPTH: How Democrat and Republican Voters See the Debt Crisis
The political standoff over raising the federal debt ceiling, now in its fourth month, has brought the country within four weeks of defaulting on its financial obligations. As the impasse has become an exercise in political brinksmanship, both Republicans and Democrats appear to be betting that public opinion is on their side. They’re both right…
IN-DEPTH: President Has Legal Grounds to Ignore Debt Ceiling, Some Experts Say
The three-month standoff between the White House and Congress over the debt ceiling threatens a first-ever default on the nation’s financial obligations, which could occur as soon as June 1. That possibility could be avoided if the president chose to simply ignore the debt ceiling and resume borrowing money to pay the legal debts Congress…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`