Commentary Hillary Clinton writes in The New York Times that Republican insistence to link any increase in the nation’s debt ceiling to spending control and cuts threatens our national security. “It’s a sad irony that Mr. McCarthy and many of the same congressional Republicans seemingly intent on sabotaging America’s global leadership by refusing to pay…
IN-DEPTH: US Debt Default Fears Spark Rising Unease Among Investors
April 26, 2023
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The cost of insuring exposure to United States sovereign debt rose on Wednesday to its highest level since 2011 after Treasury Secretary Janet Yellen warned that failure to lift the federal borrowing cap would trigger an economic catastrophe, suggesting investors are growing more nervous about the debt ceiling deadlock in Washington. Spreads on U.S. five-year…
Yellen Warns of ‘Economic and Financial Catastrophe,’ but Insists It’s ‘Preventable’
April 25, 2023
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Treasury Secretary Janet Yellen on Tuesday warned of an “economic and financial catastrophe” that would decimate jobs and make loans more expensive for years to come if Congress fails to raise the debt ceiling and the government defaults on its obligations. Yellen issued the warning in prepared remarks for the 51st annual Sacramento Metro Chamber’s…
ANALYSIS: Debt Ceiling Is High Stakes, and a GOP Opportunity
April 25, 2023
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House Speaker Kevin McCarthy has thrown down the gauntlet at President Joe Biden and the Democrats over the debt ceiling. McCarthy has said he will extend the debt ceiling through May 2024, to $32.9 trillion, but only if the president and Congressional Democrats agree to: return roughly $50 to $60 billion of unspent COVID-19 funding…
Insane Deficit Spending Is Immoral
Commentary In “Armageddon,” Bruce Willis blows himself up on an asteroid to save his daughter and all of humanity. (Sorry for the spoiler, but the movie is 25 years old.) That theme—parents providing for, and sacrificing for, their children—is the deeply moral and moving story that Americans used to love. I say “used to,” because something…
White House Blasts GOP Debt-Ceiling Proposal: ‘Blueprint to Devastate’ American Families
April 20, 2023
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White House press secretary Karine Jean-Pierre has issued a sharply critical statement on the Republican debt-ceiling proposal, calling it a “blueprint to devastate hard-working American families” and accusing the GOP of “holding the American economy hostage” in order to push for spending cuts. Her statement, issued on Thursday, builds on a rebuke of the Republican plan…
Risk of Debt Default Is ‘Non-Trivial,’ Warns JPMorgan
April 20, 2023
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JPMorgan has warned that there’s a “non-trivial risk” of a default on U.S. government obligations as the debt-limit deadline looms with no agreement in sight. Analysts at the bank said in the Wednesday note that they expect the debate over the debt ceiling as well as the one on the federal funding bill to come…
‘Show Me Your Budget’: Biden Renews Attack on House Republicans Over Debt Ceiling
April 19, 2023
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President Joe Biden on Wednesday gave a speech in Accokeek, Maryland, to promote his economic agenda and rally support for it. He began his remarks by criticizing “MAGA Republicans” for standing in the way of his economic vision and threatening to undo all of his policies. “This ain’t your father’s Republican Party. It’s a different…
LIVE NOW: NTD Evening News (April 19): McCarthy Proposes $1.5T Debt Limit Increase Tied to $4.5 in Spending Cuts; 3 Charged in AL Shooting
Republicans on April 19 introduced legislation to increase the nation’s debt ceiling by $1.5 trillion or until March 31, 2024, whichever comes first. Speaker Kevin McCarthy said the package would lower spending by $4.5 trillion over the coming 10 years. Two teen brothers and a 20-year-old man have been arrested and charged with murder in…
NTD Evening News (April 19): McCarthy Proposes $1.5 Trillion Debt Limit Increase Tied to $4.5 Trillion in Spending Cuts; 3 Charged in AL Shooting
Republicans on April 19 introduced legislation to increase the nation’s debt ceiling by $1.5 trillion. Speaker Kevin McCarthy said the package would lower spending by $4.5 trillion over the coming 10 years. Two teen brothers and a 20-year-old man have been arrested and charged with murder in connection to the birthday party shooting in Alabama…
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