Free Republic

President Joe Biden will deliver his first Oval Office address as president from behind the Resolute Desk as he seeks to hold up the bipartisan achievement of avoiding a default on the nation's debt. The speech is set to be a victory lap after the House and Senate on Thursday passed through the budget agreement Biden negotiated with House Speaker Kevin McCarthy. It imposes flat funding for the next fiscal year, with a 1 per cent cut the next, while expanding work requirements for food stamps – but also accomplishes Biden's top goal of avoiding default.

Republican Senator Lindsey Graham wants assurance from the Senate's Democratic leader prior to voting on the successful House debt ceiling bill, potentially plunging the United States into default unless more financial aid is provided to Ukraine and the U.S. military. Graham made an impassioned speech Thursday on the Senate floor, saying small increases in fiscal year defense spending are not part of a "threat-based budget" but one that lacks safety and security for Americans. He later said that a supplemental defense budget for Ukraine and other spending must be agreed upon swiftly by Senate Majority Leader Chuck Schumer to make...

As President Joe Biden leaves town for the long Memorial Day weekend despite no deal being reached to raise the debt limit, Treasury Secretary Janet Yellen has again issued a letter with updated math to predict the date on which the United States will officially hit the debt ceiling and default on its obligations. The Friday afternoon letter from Yellen to congressional leaders explained that "[b]ased on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government’s obligations if Congress has not raised or suspended the debt limit by June 5."Previous estimates...