President Joe Biden wants to avoid a default on U.S. financial obligations while spending an estimated $421 billion more than projected revenues this year. House Speaker Kevin McCarthy (R-Calif.) wants to balance the nation’s budget and reduce federal spending. In advance of a February 1 meeting between the two, the White House released a memo…
President Biden to Speaker McCarthy: Say You Won’t Default on US Debt
Biden Announces $1.2 Billion in Mega Grants as Republicans Target ‘Wasteful Spending’ in Debt Cap Standoff
January 31, 2023
admin
Business & Marketsdebt ceilingExecutive BranchHudson tunnel projectJoe Bidenmega grantPoliticsRepublicansUSUS News
0 Comment
President Joe Biden on Jan. 31 announced nearly $1.2 billion in mega grants for a series of infrastructure projects, including $292 million to build a new rail tunnel beneath the Hudson River between New York and New Jersey, which comes amid a government borrowing limit standoff with Republicans who are pushing for spending curbs. The…
Republicans Take Social Security, Medicare ‘Off the Table’ in Debt Ceiling Talks
Rep. James Comer (R-Ky.), chairman of the House Oversight Committee, said on Jan. 30 that Republicans would not consider cuts to Social Security or Medicare in negotiations on raising the nation’s debt ceiling. “We’re not going to default,” Comer said. “But Republicans are going to fight for spending cuts. And I think the American taxpayer…
Rationality and Irrationality in the Debt-Ceiling Issue
Commentary Well, here we go again: For the next few months we’ll be witnessing what I call “the debt ceiling dance”—the same old back-and-forth rhetorical sallies (GOP: “We need to cut some spending”; Democrats: “Raise the limit unconditionally”). The ritual of the debt-ceiling dance is well known because we’ve been through it many times before….
Spendaholic Politicians Are Destroying Your Economic Future
Commentary Most people don’t lie awake at night worried about the national debt. Unfortunately, that includes President Joe Biden and the spendaholic Democrats in Congress. They should be worried. Frankly, so should you, no matter what your politics. Economics is a science, and numerous studies by world-class economists confirm that when a nation’s debt gets…
Reaching the US Debt Ceiling Could Affect Social Security Benefits
January 26, 2023
admin
Brightbudgetingdebt ceilingDebt ManagementMedicarepersonal financePolicies & ImpactsPoliticsretirementSocial SecurityUS
0 Comment
On Jan. 19, 2023, the U.S. government again reached its debt ceiling. Congress sets the limit, and once reached, no more debt can be incurred without paying on the national debt. Disagreements have left Congress trying to figure out how to proceed. Many are afraid that it will affect Social Security and Medicare payments. In…
US Senators Hold Press Conference on Debt Ceiling
U.S. Sens. Rand Paul (R-Ky.), Mike Lee (R-Utah), Rick Scott (R-Fla.), Ted Cruz (R-Texas), Mike Braun (R-Ind.), and Ron Johnson (R-Wis.) hold a media availability on Debt Ceiling at 2:00 p.m. ET on Jan. 25. The Epoch Times will livestream the event. …
McConnell Says Debt Limit Negotiations Hinge on McCarthy and Biden
Senate Minority Leader Mitch McConnell (R-Ky.) said Tuesday that he is counting on House Republicans to reach a deal with President Joe Biden to address the U.S. debt ceiling and avoid a first-ever default by Washington. Given the Democrats’ slim Senate majority of 51-49 in the new Congress and the 60-vote filibuster threshold to pass legislation,…
Manchin Calls White House Stand to Not Negotiate With Republicans on Debt Ceiling a ‘Mistake’
Democratic Sen. Joe Manchin of West Virginia said on Sunday that it’s a “mistake” that the White House won’t negotiate with Republicans on the debt ceiling limit. The senator made his comments on CNN’S Sunday “State of the Union” program when Dana Bash, the show’s host, asked his opinion regarding the recent White House statement…
US Debt Ceiling: Shutdown, Default, or Extraordinary Measures
January 20, 2023
admin
Business & MarketsBusiness Columnistsdebt ceilinggovernment shutdownsOpinionspending cutsthe constitutionViewpoints
0 Comment
Commentary House Democrats refuse spending cuts to keep the United States out of default. Treasury Secretary Janet Yellen confirmed on Jan. 19 that the United States has reached its debt ceiling of $31.4 trillion and that the government would have to take extraordinary measures to avoid slipping into default. House Democrats blame the Republicans for not…
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`