President Joe Biden renewed his call for House Republicans to raise the nation’s debt ceiling with no insistence on spending cuts during his State of the Union address on Feb. 7. The president elicited jeers from Republicans when he suggested that they intended to “take the economy hostage” in negotiations over the debt ceiling and…
Bill Would Require Treasury Secretary to Appear Before Congress When Debt Ceiling Is Near
Rep. David Schweikert (R-Ariz.) introduced a bill that would require the U.S. Treasury Secretary to appear before Congress before the debt ceiling is reached, or when extraordinary measures are taken to prevent the nation from defaulting on its financial obligations. H.R. 846, referred to as the ‘Debt Explanation Before Taxwriters Act, or DEBT Act, was…
McCarthy Makes Case for ‘Responsible’ Increase in Debt Ceiling, Spending Cuts
February 6, 2023
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House Speaker Kevin McCarthy addressed the nation to rally public support for a “responsible” increase in the nation’s debt ceiling while cutting federal spending. McCarthy described the national debt as the greatest threat to the country’s future, eclipsing inflation, illegal immigration, and China’s “infiltration” of our culture in his 10-minute speech aired live on Feb….
Republicans Eye Spending Caps and ‘Paid-For’ Tax Cuts Ahead of Talks on Debt Ceiling
Rep. Kevin Hern (R-Okla.) has outlined the policies Republicans are discussing in connection with debt ceiling negotiations, which include rollbacks on discretionary spending, a cap on future spending, and ‘paid-for’ tax cuts. Hern, who chairs the House Republican Study Committee (RSC), listed the policy ideas in a letter to committee members on Feb. 1. Republicans…
Yellen: ‘Every Responsible Member of Congress Must Agree to Raise Debt Ceiling’
U.S. Treasury Secretary Janet Yellen says Congress must increase the nation’s debt ceiling to avoid financial disaster. “America has paid its bills on time since 1789. And not to do so would produce an economic and financial catastrophe,” Yellen said Feb. 6 on ABC’s “Good Morning America.” “And every responsible member of Congress must agree…
Republican Senators Demand Action on the Economy, Tenacious Foreign Policy
January 31, 2023
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Senate Republicans harshly criticized President Joe Biden’s economic policies. They made it clear that the key to addressing their concerns is to negotiate an increase of the debt ceiling with Speaker of the House Kevin McCarthy (R-Calif.). At a press conference after the Senate Republicans’ weekly policy lunch, minority leader Mitch McConnell (R-Ky.) said he…
House Democrats Propose Eliminating Debt Ceiling; Yellen Shoots Down $1 Trillion Coin
January 24, 2023
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Dozens of House Democrats believe it is time to eliminate the debt ceiling and instead allow unlimited borrowing so the government can spend whatever it needs. The federal government is entrenched in another battle over the debt ceiling after Washington hit its borrowing limit of about $31.4 trillion last week. As a result, the Treasury…
NTD Business (Jan. 19): UN Chief Slams Fossil Fuel Industry at WEF Meeting; US Reaches Borrowing Limit
The United States reaches its borrowing limit. The Treasury Department is now trying to avoid a government default. A San Francisco business owner has been arrested. A video of him went viral on social media, where he was seen spraying a homeless woman with water, trying to get her to move. At the World Economic…
LIVE 5 PM ET: NTD Business (Jan. 19): UN Chief Slams Fossil Fuel Industry at WEF Meeting; U.S. Reaches Borrowing Limit
The United States reaches its borrowing limit. The Treasury Department is now trying to avoid a government default. A San Francisco business owner is arrested–a video of him went viral on social media, where he was seen spraying a homeless woman with water, trying to get her to move. At the World Economic Forum meeting…
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