HIROSHIMA, Japan—President Joe Biden has asked his negotiators to coordinate a call with House Speaker Kevin McCarthy for Sunday morning, U.S. time, after he concludes his G-7 meetings on the last day of the summit in Japan. The White House has engaged in a heated exchange with Republicans over the debt ceiling negotiations that stalled…
US Default Risk Casts Shadow Over Biden’s G-7 Trip
May 21, 2023
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White House Says ‘Serious Differences’ in US Debt Limit Talks ‘Not Generating Alarm’ at G-7 Summit
HIROSHIMA, Japan—President Joe Biden has addressed U.S. debt limit concerns at the G-7 Summit in Japan, seeking to assure world leaders of his capability to navigate negotiations and prevent a historic default on the United States debt, according to U.S. national security adviser Jake Sullivan. At a press briefing in Hiroshima, one of two Japanese…
Gen. Flynn Criticizes Pentagon’s $3 Billion Overestimation of Ukraine Aid: ‘Should Not Have Occurred’
The Pentagon is found to have overestimated the value of weapons sent to Ukraine by $3 billion. General Michael Flynn joins us to discuss the issue. High-stakes negotiations over the debt ceiling have hit a road bump. Find out why Republicans have hit the pause button. The United States is laying out the largest set of…
What Voters Fear Most if Debt Ceiling Talks Fail and Default Comes Knocking
Even though both President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) have said in recent days they don’t believe the debt ceiling negotiations will end in a fiasco and trigger an economically damaging debt default, markets are jittery and voters nervous as they mull the implications of America failing to meet its debt obligations….
The High Dudgeon of the Debt Debate
Commentary “Debts and lies are generally mixed together,” said Francois Rabaleis. It was true 500 years ago when he said it and it has never been more true now. People hide their debts because they reveal a great deal of stupidity, profligacy, and miscalculation. Certainly that is true in personal finance. It is even more…
Steady Progress on Debt Ceiling Talks, White House Informs Biden in Japan
Debt ceiling talks are showing “steady progress,” according to the White House late on Thursday, amid a looming June 1 federal default deadline. President Joe Biden is currently in Hiroshima, Japan, for the Group of Seven (G-7) Summit. He received an update Thursday morning from his designated negotiating team, as they continue trying to reach…
3 in 4 Americans Worry Debt-Ceiling Default Could Hurt Them: Reuters/Ipsos Poll
WASHINGTON—Americans are worried about the prospect of the U.S. government defaulting if Congress fails to raise the debt ceiling, but are divided over the action to be taken, according to a Reuters/Ipsos poll completed on Monday. The polls show neither Democratic President Joe Biden nor congressional Republicans hold a clear advantage in public opinion as…
Yellen Warns Bank Executives of ‘Severe Consequences’ of Default
May 18, 2023
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Treasury Secretary Janet Yellen met with more than two dozen CEOs and executives at a meeting convened by the Bank Policy Institute (BPI) to discuss the debt ceiling and the state of the economy and banking system. Yellen reiterated her public position that the U.S. banking system is sound and resilient, alluding to its high…
US Treasury Cash Balance Shrinks to Alarming Levels Amid Debt Ceiling Battle
The U.S. Treasury cash balance inside its bank account at the Federal Reserve continues to shrink at an alarming level as the department attempts to prevent the federal government from defaulting. According to the latest Daily Treasury Statement, the Treasury General Account (TGA) opening balance was $87.431 billion on May 16, down from about $143…
House Republicans and White House Show Optimism in Reaching Deal on Debt Limit
Congressional Republicans and President Joe Biden are expressing optimism about avoiding an economic catastrophe. What are both sides saying about the deal on the nation’s debt? Congressman Brian Babin (R-Texas) weighs in on the ongoing debt ceiling negotiations. He tells us Republicans don’t want to see a default. Donors reportedly want Florida Gov. Ron DeSantis…
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