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House Speaker Kevin McCarthy told Sen. Joe Manchin (D-WV) that Republcans would not make cuts to social security or Medicare to offset the debt ceiling during a meeting on Tuesday, according to Punch Bowl News co-founder Jake Sherman. Sherman noted in a tweet that Manchin also “hopes” President Joe Biden will negotiate with Republicans, who want spending cuts in exchange for their help raising the debt ceiling.

The Chinese Embassy in the African nation of Zambia telling the US to get its own house in order when it comes to debt... The UN Special Envoy for Haiti says that an international force must be deployed there... "They've been asleep for a year. NATO is pouring advisors and weapons into Ukraine to counter a massive Russian invasion. There is no real diplomatic effort. Does anyone in the west or in Russia-think Putin would accept defeat without using nukes?" The opinion of Ezra Levant of Rebel News as the "Bulletin of Atomic Scientists" moved their "Doomsday Clock" 10 seconds...

The sky seems to be perpetually falling if you ask Democrats, journalists, and even some Republicans, and the current fiscal fight in the House seems to be no exception.Joe Biden and the Democrats are adamant that a clean debt ceiling increase has to happen or else the consequences will be dire. Mitch McConnell, the GOP leader in the Senate, is only telling reporters “We will not default.” But in the House, Republicans are poised to force a lengthy battle over the debt ceiling and potential cuts to the federal budget.That puts House Speaker Kevin McCarthy somewhere he may not be...

Chinese officials in Zambia have responded sharply over US Treasury Secretary Janet Yellen's remarks calling China a "barrier" to debt reform in Africa After US Treasury Secretary Janet Yellen called China a "barrier" to debt reform in Africa this week, Chinese officials in Zambia had a pointed response-get your own house in order. The Chinese Embassy in Zambia said on its website Tuesday "the biggest contribution that the US can make to the debt issues outside the country is to act responsible on monetary policies, cope with its own debt problem, and stop sabotaging other sovereign countries' active efforts to...

Dozens of House Democrats have proposed legislation that would eliminate the debt ceiling, which would allow the government to borrow without any limit set by Congress. The federal government hit the $31.381 trillion debt ceiling last week, and House Republicans are pushing for commitments to cut back on the record growth in federal spending before agreeing to allow more borrowing. But Democrats accuse Republicans of setting up the possibility of prohibiting a debt ceiling hike, which would make the government unable to fund all of its current obligations.

Democrats may have to come to the table prepared to negotiate with Republicans over the debt ceiling that could put the U.S. economy down a hole. However, Senate Majority Leader Chuck Schumer (D-NY) and President Joe Biden have so far refused to settle with House Speaker Kevin McCarthy (R-Calif) on raising the debt ceiling. Last week, McCarthy called on Democrats to discuss plans to increase the federal debt limit despite Biden and Schumer standing their ground, avoiding all talks. “What I would like to do is I would like to sit down with all the leaders and especially the president...

Speaker of the House Kevin McCarthy (R-Calif.) rejected President Joe Biden’s demand that Congress increase the nation’s debt ceiling without attaching any conditions such as the spending cuts that virtually all congressional Republicans are demanding.In an informal news conference with reporters just outside the Capitol, McCarthy said “we’re six months away, approximately, and what I would like to do is sit down with all the leaders, especially the President, and start having the discussion.”The Speaker said Biden’s refusal to discuss anything other than a “clean” increase in the debt ceiling, which limits federal borrowing, is “a sign of arrogance that...

We are now told that the so-called “X-date” (when the federal government hits the current debt limit) is fast approaching, potentially much sooner than previously anticipated. Leading economists can’t seem to agree on precisely when this will happen, with some saying “in the next few weeks” and other, more optimistic prognosticators putting the date at “some time this summer.” But either way, the date is clearly coming. The Fed can implement what are described as “extraordinary measures” (bookkeeping tricks) to push the deadline back a bit, but that will only hold for so long. This leaves us with two obvious...

Treasury Secretary Janet Yellen is to remain as head of the department, which she reportedly agreed to do at the request of President Joe Biden, according to a report from Bloomberg. White House officials familiar with the details told Bloomberg that Biden asked for her to stay in the role in mid-December, according to one official, as the president is preparing to have turnovers throughout his Cabinet. This comes as questions arose about how long Yellen would stay in the Biden administration and a potential fight is brewing in the Republican-controlled U.S. House over the looming debt ceiling and the...

On debt limit battle ahead with new GOP House, @PressSec cites Moody's study that a default would wipe out 6 million jobs - says "there will be no hostage taking" and Congress needs to raise the debt limit without conditions.

Donald J. Trump @realDonaldTrump · 4h It’s Mitch McConnell’s fault. Spending money to defeat great Republican candidates instead of backing Blake Masters and others was a big mistake. Giving 4 Trillion Dollars to the Radical Left for the Green New Deal, not Infrastructure, was an even bigger mistake. He blew the Midterms, and everyone despises him and his otherwise lovely wife, Coco Chow!

Former President Trump laid into Senate Minority Leader Mitch McConnell (R-Ky.) on Sunday after Senate Democrats passed their long-awaited health care, tax and climate package. “Mitch McConnell got played like a fiddle with the vote today by the Senate Democrats,” Trump wrote on Truth Social. “First he gave them the fake Infrastructure Bill, then Guns, never used the Debt Ceiling for negotiating purposes (gave it away for NOTHING!), and now this,” Trump said. “Mitch doesn’t have a clue – he is sooo bad for the Republican Party!”

The Senate passed a $2.5 trillion debt ceiling increase that will push the ceiling past the 2022 midterm elections by temporarily bypassing the Senate’s filibuster. It passed, 50-49, with solely Democrat votes. The measure moves to the House, where it is quickly expected to pass and get sent to President Biden. The federal government may face a default on its debt if Congress fails to raise the debt ceiling by December 15. The Senate passed the debt ceiling increase after members created a one-time carveout to the Senate’s rules, allowing Democrats to pass the bill with a simple majority. Sen....

President Biden on Thursday signed a bill raising the debt ceiling by $2.5 trillion, narrowly averting default on the nation’s debt. The measure passed the Senate Tuesday afternoon in a 50-49 vote that was strictly along party lines after Democrats and Republicans reached a deal to sidestep the filibuster. The House moved to pass the bill late Tuesday in a 221-209 vote with one Republican member voting in favor, sending it to Biden’s desk for his signature.

Senator Joe Manchin was right. In September, he suggested that Democrats “hit the pause button” on their massive spending plans. At that time, the Build Back Better bill was $3.5 trillion — an inflationary bomb just waiting to go off.Even after the Democrats cut the bill in half to $1.75 trillion, Manchin kept sounding the inflation alarm. He kept insisting that inflation wasn’t “transitory,” as Joe Biden still insists to this day. Manchin also asserted that it was fiscal madness to take on so much debt at this time.Manchin’s September op-ed in the Wall Street Journal summed up the danger.Those...

Fox News contributor Karl Rove explains how the debt ceiling crisis could unfold amid the infrastructure and budget reconciliation bills.

...With a deadline of October 18th approaching—the point at which, according to Treasury Secretary Janet Yellen, the U.S. would default on its debt if the debt ceiling were not raised by $480 billion—McConnell and Schumer agreed to raise the debt limit through December.... ...The critics might want to hold their fire until they see what happens in December. According to McConnell's allies, the minority leader had very good reasons for striking the deal. They say it connects all the important political dots now laid out before him as GOP leader, in ways that will benefit Republicans going into a midterm...

Joe Biden has been throwing a big fit over Republicans not wanting to go along with raising the debt ceiling.He even claimed that if the GOP didn’t agree to do it they would be the equivalent of sending a “meteor headed to crash into our economy.” Imagine using that terminology to describe not wanting to keep spending into oblivion.Earlier, we reported that Senate Minority Leader Mitch McConnell had thrown out a potential offer for a short-term suspension of the debt ceiling.My new statement on the Democrats’ self-created debt limit crisis: pic.twitter.com/XwuqyS9oZ0— Leader McConnell (@LeaderMcConnell) October 6, 2021“We have already made...

“A default could potentially — but not necessarily — delay the payment of Social Security benefits, which reach about 65 million Americans in some form,” the Times said. “It could also delay payments to government contractors, including hospitals that accept patients who use Medicare and Medicaid benefits.” A default would also have effects that trickle down further, including to state-run programs, as well as the expanded child tax credit. The next scheduled payment from that is October 15, which is before the possible default date, although another payment is due November 15.

President Biden on Wednesday ​resorted to histrionics, saying that a “meteor” could crash into the US economy if Congress doesn’t raise the government’s debt ceiling — ​even as Republicans ​noted that Democrats can simply lift the spending cap on their own.​ Biden insisted Republicans could cause the US to default on its debt after an Oct. 18 deadline as he attempted to undercut conservative pressure on Democrats to own the vote as they push for trillions in new spending. “The United States is the financial rock the world looks to and trusts. Now in one cynical destructive partisan ploy —...