During Wednesday’s “Reigniting American Growth and Prosperity Series: Removing the Burdens of Government Overreach” hearing, Rep. Ralph Norman (R-S.C.) expressed reservations about President Joe Biden’s policy and fiscal responsibility, insisting the mounting interest burden facing the nation is a ticking time bomb. “We’ve got $660 billion in interest alone. That’s going to surpass our military…
‘Hold the Line’: Rep. Roy to McCarthy On GOP Debt Ceiling Demands
Rep. Chip Roy (R-Texas) circulated a memo on May 24 encouraging Speaker of the House Kevin McCarthy (R-Calif.) to “hold the line” on Republicans’ debt ceiling demands. “I hope … Speaker McCarthy continues to pressure President [Joe] Biden to do what is right for the American people,” Roy wrote in a memo to his colleagues…
US Debt Ceiling Default Deadline Is Still Early June, Yellen Warns
May 24, 2023
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Treasury Secretary Janet Yellen reiterated her projection that the U.S. debt ceiling default deadline is still early June, when her department might exhaust the extraordinary measures employed since January. Yellen confirmed at a virtual Wall Street Journal CEO Summit on May 24 that she would soon update Congress about government finances, adding that payment prioritization…
Speaker McCarthy Updates Reporters on the Debt Crisis
House Speaker Kevin McCarthy (R-Calif.) holds a news briefing in the Capitol on the debt crisis at 11:45 a.m. ET on May 24. …
Welfare Work Requirements Make Everyone Better Off
Commentary The Congressional Budget Office (CBO) has just released its latest projection for the next ten years. “In the agency’s updated projections, annual deficits nearly double over the next decade, reaching $2.7 trillion in 2033 …. As a result of those deficits, debt held by the public also increases in CBO’s projections, from 98% of…
Debt Limit Default Could Cost California More Than 840,000 Jobs: Analysts
May 23, 2023
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With the debt limit debate raging in Washington, D.C., some experts are projecting significant impacts on regional economies if no deal is reached before the June 1 deadline, with more workers in California expected to lose their job than in any other state if the breach is prolonged, according to a recently released report from…
Yellen Sounds Alarm on Default in New Warning to McCarthy on Debt Ceiling Deadlock
May 23, 2023
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Treasury Secretary Janet Yellen has issued a renewed—and alarmist—warning to House Speaker Kevin McCarthy (R-Calif.) and other congressional leaders, reiterating her earlier position that the country could run out of money to pay its debt obligations as early as June 1, but this time around expressing more confidence in her dire prediction. Yellen has repeatedly…
Trump Welcomes Scott to 2024 Race: ‘Big Step Up’ From DeSantis
May 22, 2023
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Sen. Tim Scott (R-S.C.) formally announced his 2024 presidential bid. His platform is to revive hope in the American Dream. Hear what the South Carolina senator has to say, and how former President Donald Trump is reacting. In Florida, Gov. Ron DeSantis has been accused of being hostile to black Americans. And now a civil rights group, the National…
LIVE 7 PM ET: McCarthy Holds Press Conference in Capitol After Meeting Biden on Debt Ceiling
May 22, 2023
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House Speaker Kevin McCarthy (R-Calif.) holds a news conference on the debt crisis in the Capitol at 7:00 p.m. ET on May 22 after meeting President Joe Biden. …
McCarthy Speaks With Reporters After Meeting Biden on Debt Ceiling
May 22, 2023
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House Speaker Kevin McCarthy (R-Calif.) holds a news conference on the debt crisis in the Capitol at 7:00 p.m. ET on May 22 after meeting President Joe Biden. …
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