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I have to give it to Speaker McCarthy.Since his election as Speaker of the House back in January, which took 15 ballots to achieve, he has been doing a bit of a Houdini act. BREAKING: 15th Vote Finally Decides Kevin McCarthy as Speaker of the HouseHe has kept the GOP caucus together during the debt limit armageddon, which the Biden White House had not expected to happen but which put pressure on them to cancel part of Biden’s latest foreign policy adventure. That forced the president to come home early, preventing any more embarrassing gaffes internationally which is actually a...

On Saturday, House Speaker Kevin McCarthy (R-CA) announced that an agreement had been reached with the White House after stalled negotiations and uncompromising sticking points threatened the United States to go into default by June 5. McCarthy declared victory, calling the deal “worthy of the American people” and highlighting policy objectives that Republicans secured including, “historic reductions in spending…no new taxes, no new government programs.”Then, a backlash ensued. The House Freedom Caucus tweeted on Saturday, calling the agreement “Unacceptable.”Read More:Freedom Caucus Says McCarthy Got Rolled on the Debt Ceiling and the Evidence Indicates They Are RightMSNBC Throws the Goalposts Into...

Senate Republican Leader Mitch McConnell (R-Ky.) is calling on Senate colleagues, including conservative members of his conference, not to drag out the consideration of the debt-limit deal, which could be delayed past the June 5 deadline if senators use every procedural tool available to slow it down. McConnell applauded Speaker Kevin McCarthy (R-Calif.) for winning significant concessions from President Biden, including a cut in non-defense discretionary spending, a recission in funding for the Internal Revenue Service, new work requirements for federal assistance programs and permitting reform for major energy projects.

Some Democrat leaders have acknowledged some of the losses in the debt ceiling negotiations and have urged their fellow members to vote “yes” anyway. According to Congressional reporter Max Cohen, former House Majority Leader Steny Hoyer (D-MD) has been urging his colleagues to vote “yes” despite some of their misgivings.

Several Republican representatives say they're unhappy with the debt ceiling deal after the White House and House Speaker reached a tentative agreement Saturday night. Kevin McCarthy said he'd spoken with President Joe Biden on the phone twice and struck a deal in principle after weeks of fraught negotiations. The deal means the US will avert a national debt default, which could trigger chaos on financial markets and send the dollar sinking – but the legislation still has to pass both the House and the Senate. Republican Congressmen Ralph Norman and Ken Buck both attacked the agreement. Norman, of South Carolina,...

With the X-date for potential US default now estimated at June 5, House GOP and White House negotiators appear to be settling on an agreement to raise the debt limit and cap federal spending for two years, Bloomberg reports, citing people familiar with the discussions. That said, while the two sides have whittled down their differences over the past several days, the details are tentative, and a final agreement is not yet in sight. The two sides have yet to agree on the amount of the cap, however under the emerging agreement, defense spending would be allowed to rise 3%...

T The official Black Lives Matter organization lost millions of dollars in 2022, according to recently unearthed tax returns. According to the Washington Free Beacon, the Black Lives Matter Global Foundation Network saw a deficit of $8.5 million in 2022, and also lost $10 million from its investment accounts. In addition, the group recorded a loss of $961,000 on a securities sale of $172,000, amounting to a roughly 85 percent loss as a result of the transaction. Patrisse Cullors, one of the co-founders of the group, had previously criticized the idea of so-called charities being forced to disclose their finances,...

Black Lives Matter ended last year on a nearly $9 million deficit — while still paying out millions to organizers as well as relatives of controversial co-founder Patrisse Cullors. Tax documents shared by The Washington Free Beacon show that BLM’s Global Network Foundation ended the financial year in the red to the tune of $8,559,748. The filings show that the non-profit recorded revenue of $8.5 million — roughly half the more than $17 million it spent. That deficit is made even more extreme given that the previous year it actually increased its piggybank, earning nearly $42 million after expenses. The...

It sounds like President Joe Biden and House Speaker Kevin McCarthy have resolved one crucial point on the debt negotiations. They’ve reached the most important agreement — they will avoid a default and take that option off the table.They came together to list their points of agreement:JUST IN: Pres. Biden outlines agreements and pain points in ongoing debt ceiling negotiations with House Speaker McCarthy: "We both agree default's not really on the table. We've got to get something done here." https://t.co/9q3mCFLnXe pic.twitter.com/cCVsPE3WSy— ABC News (@ABC) May 22, 2023That’s going to flip out the left who seemed set on driving us...

In January 2022, California Governor Gavin Newsom gloated over his financial prowess in a tweet:NEW: With a surplus of over $45.7 BILLION — California is a model for the nation on how we can confront our greatest existential threats and make historic investments in our future.We can lead with science and still have a successful economy.— Gavin Newsom (@GavinNewsom) January 10, 2022That tweet hasn’t aged well, to put it mildly.On Friday, the exquisitely coiffed governor announced that not only had the surplus evaporated, but the state was actually running at a $32 billion deficit—$10 billion more than he had predicted...

James Carter (no, not Mr. Peanut, the smart one at America First Policy Institute’s Center for American Prosperity) had a nice op-ed on American Thinker entitled “The Biden Administration’s Budget Hypocrisy.” The Biden administration’s claims of deficit reduction come in stark contrast to the president and his team, having added $4.8 trillion to the deficit through 2031. No, but Biden and Congress are serious about bankrupting the US Treasury and moving to a Socialist model. And what even James Carter doesn’t mention is the staggering levels of UNFUNDED LIABILITIES of $187 TRILLION. The question for Biden is …. how are...

(Reuters) - The world is failing to cut carbon emissions fast enough to avoid disastrous climate change, a dawning truth that is giving life to a technology that for years has been marginal – pulling carbon dioxide from the air. Leading the charge, the U.S. government has offered $3.5 billion in grants to build the factories that will capture and permanently store the gas - the largest such effort globally to help halt climate change through Direct Air Capture (DAC) and expanded a tax credit to $180/tonne to bolster the burgeoning technology. The sums involved dwarf funding available in other...

The U.S. Congressional Budget Office said Monday the federal government has accumulated more than a trillion dollars in debt only six months into the fiscal year. The Committee for a Responsible Federal Budget released a report pointing out that those figures amount to an average of $6 billion per day so far in fiscal year 2023. “Our fiscal challenges will only become more difficult the longer we wait to do anything,” said Maya MacGuineas, president of the CRFB. “In just five years, the national debt will surpass its record as a share of the economy – set just after World...

KEY POINTS: * Vice President Kamala Harris on Thursday plans to announce a commitment between South Korean solar cell manufacturer Qcells and Virginia-based Summit Ridge Energy to deploy 1.2 gigawatts of community solar power. * Harris will make the announcement during a trip to the Qcells facility in Dalton, Georgia as part of the White House’s “Invest in America” tour. * The deal would be the largest community solar order in U.S. history and require the manufacturing of 2.5 million solar panels, Biden administration officials said.

Trade between India and Malaysia is now able to be settled with Indian Rupees, the India Ministry of External Affairs (MEA) announced in a statement Saturday. This move strikes a blow to the hegemony US dollar. “This initiative by the Reserve Bank of India (RBI) is aimed at facilitating the growth of global trade and to support the interests of the global trading community in Indian Rupees (INR),” the statement from the MEA reads.

President Biden’s FY 2024 budget promises to reduce future deficits by $2.8 trillion over the next 10 years. That’s a big number. It is not enough, however, to prevent the debt from climbing to a record 110 percent of GDP in 2033, up from 98 percent this year and more than twice its average over the past 50 years. It is also not enough to prevent interest on the debt from doubling over the next 10 years and reaching a record high as a share of the economy by 2032. The record is 3.2 percent of GDP in 1991. It...

California, which never allowed slavery, is nonetheless considering giving hundreds of billions of dollars to Black residents in reparations as a way to make amends for slavery, raising practical questions about how a state already facing a massive budget deficit could swing such an expensive program. The California Reparations Task Force, which was created by state legislation in 2020, is weighing a proposal to dole out just under $360,000 per person to approximately 1.8 million Black Californians who had an ancestor enslaved in the U.S., putting the total cost of the program at about $640 billion. "If California can admit...

WASHINGTON — A group of ultraconservative House Republicans on Friday sketched out their demands to tackle the debt ceiling, pushing to repeal much of President Joe Biden's signature Inflation Reduction Act and roll back the latest government funding deal. The Freedom Caucus, chaired by Rep. Scott Perry, R-Pa., proposed to nix Biden’s $400 billion in student debt relief, rescind unspent Covid-19 funds, cut the climate change funding and $80 billion for added I.R.S. enforcement under the Inflation Reduction Act and to cap discretionary spending at fiscal 2022 levels for a decade. Perry estimated that would save about $3 trillion over...

Mike Pompeo is openly casting doubt on the conservative bonafides of his one-time boss, former President Donald Trump, ahead of a potential face-off in 2024. During an interview on “Fox News Sunday,” Pompeo talked about how a conservative president is needed to tackle the nation’s budget deficit and debt after years of neglect, including during the Trump administration. Anchor Shannon Bream then asked Pompeo if he was saying Trump was not a “true conservative leader,” using her guest’s words to describe the kind of president he argued is necessary to attain fiscal responsibility. Fox's Shannon Bream: "Are you saying that...

The U.S. on Friday announced a $400 million security aid package for Ukraine, providing more ammunition, equipment and munitions for Kyiv in its fight against Russia. The State Department said the latest package includes munitions for the High Mobility Artillery Rocket Systems (HIMARS) and howitzer artillery guns, as well as ammunition for the Bradley Infantry Fighting Vehicles the U.S. first announced for Ukraine in January. The latest round of security aid also includes demolitions munitions, equipment and other material, as well as services for maintenance, training and support of Ukrainian troops, who have been fighting against a Russian invasion for...