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US House to Pass Bill Temporarily Suspending Federal Debt Ceiling

by Chief editor of world-today-news.com May 31, 2023

written by Chief editor of world-today-news.com

US House Speaker McCarthy (Republican) announced on the 31st that the bill to suspend the federal debt ceiling temporarily will be voted on and that the bill will be passed. (2023 REUTERS/Julia Nikhinson)

[ワシントン３１日ロイター] – US House Speaker McCarthy (Republican) announced on the 31st that the bill to suspend the federal debt ceiling temporarily will be voted on and that the bill will be passed.

A vote in the House of Representatives is scheduled for around 8:30 p.m. EDT on June 31.

Senate Majority Leader Mitch McConnell said the bill would pass the House on Wednesday and could be sent to the Senate on June 1 at the earliest, and hopes it will pass the Senate on June 1 or 2.

President Biden expects the bill to have passed Congress and be ready for signature by June 5, the so-called “X-Day,” when government funds run out, White House spokesman Jean-Pierre said. Stated.

It also said that President Biden plans to issue a statement on the night of the 31st.

#House #vote #debt #ceiling #bill #p.m #Biden #issue #statement
2023-05-31 13:42:00

May 31, 2023 0 comments

Business

“U.S. Deputy Treasury Secretary Adhemo says there’s no “Plan B” for federal debt ceiling payments”

by Chief editor of world-today-news.com May 26, 2023

written by Chief editor of world-today-news.com

U.S. Deputy Treasury Secretary Adhemo said on Thursday that he does not have a “Plan B” that would allow him to pay off the federal debt ceiling. April 2022 (2023 REUTERS/Eduardo Munoz/File Photo)

(Reuters) – U.S. Deputy Treasury Secretary Adhemo said on Wednesday that the United States does not have a “Plan B” to pay off the federal debt ceiling. The U.S. government will not be able to prioritize payments if the ceiling is not raised, he said, adding that the 14th Amendment on public debt would not solve the challenges facing us.

Adeemo told CNN that talks between the Biden administration and opposition Republicans on raising the limit were “making progress” and “the goal is to reach a deal because a default is unacceptable.”

As for ratings agencies reviewing the U.S. credit rating for a downgrade, he said he hoped that would not happen, but that the dispute over the upper limit was already increasing the cost of U.S. Treasuries.

He told MSNBC that a default would send the stock market down, hurt pensioners’ savings and push up borrowing costs.

The government’s payment system was not designed to allow payment to be deferred, he said.

“We have no Plan B that can pay our creditors, our seniors, our veterans, our citizens,” he said. must be done on time,” he told CNN.

2023-05-26 13:15:00
#U.S #Deputy #Treasury #Secretary #Aims #Achieve #Plan #Debt #Ceiling

May 26, 2023 0 comments

Business

“President Biden and House Speaker McCarthy near deal on U.S. debt ceiling negotiations”

by Chief editor of world-today-news.com May 25, 2023

written by Chief editor of world-today-news.com

Negotiations between President Biden and House Speaker McCarthy over raising the U.S. debt ceiling are nearing a deal, with a difference of just $70 billion between the two on “discretionary spending,” excluding social security and other items. This was confirmed by multiple sources. (2023 REUTERS/Craig Hudson)

[ワシントン２５日ロイター] – Negotiations between President Biden and House Speaker McCarthy over raising the U.S. debt ceiling are nearing an agreement, with the difference in views between the two on “discretionary spending” excluding social security and other items amounting to just $70 billion. It was confirmed by multiple sources.

The sources said they expected the deal to be a simple document with a few key figures, rather than a lengthy bill of hundreds of pages. Overall figures for discretionary spending will be hammered out, and sectors such as housing and education will be left to lawmakers to work out the details over the next few months through the normal budgeting process, he said.

Discretionary spending will reach $1.7 trillion in 2022, according to federal statistics. It accounted for 27% of total spending ($6.27 trillion), about half of which was for defense. Some lawmakers have argued that defense spending should not be cut.

The White House declined to comment.

2023-05-25 16:55:00
#U.S #debt #ceiling #talks #billion #discrepancies #discretionary #spending #close #deal #sources

May 25, 2023 0 comments

Business

“US Congressional Budget Office warns of looming default risk in June due to debt ceiling”

by Chief editor of world-today-news.com May 12, 2023

written by Chief editor of world-today-news.com

The US Congressional Budget Office (CBO) warned on Wednesday that it faces a “significant risk” of default as early as early June if the federal debt ceiling is not raised. FILE PHOTO: April 6, 2023. REUTERS/Elizabeth Frantz

[ワシントン１２日ロイター] – The US Congressional Budget Office (CBO) warned on Thursday that it faces a “significant risk” of default as early as early June if the federal debt ceiling is not raised.

The estimate closely coincides with the June 1 deadline that Treasury Secretary Yellen said could default, underscoring the urgency of resolving the bitter rivalry between Democrats and Republicans over raising the cap. are doing.

On the other hand, if the cash on hand and special measures are sufficient to meet the June 15 tax deadline, it will “probably” be able to cover the government’s payment obligations through at least the end of July, potentially extending the deadline for negotiations. I thought there was also a sexuality. “Even if the Treasury Department eventually runs out of money in early June, we won’t know until May how much the government will be able to fund ongoing operations,” it said.

Talks between President Biden and congressional leaders, including Republican House Speaker McCarthy, on the debt ceiling, scheduled for Wednesday, were postponed to early next week. “There hasn’t been enough progress at the top to renegotiate,” McCarthy said.

2023-05-12 15:36:00
#U.S #faces #significant #risk #default #early #June #Congressional #Budget #Office

May 12, 2023 0 comments

Business

Economy is on the right track, jobs report says Biden

by Chief editor of world-today-news.com March 10, 2023

written by Chief editor of world-today-news.com

U.S. President Joe Biden said on Thursday that the February jobs report released earlier this morning showed that the U.S. economy was heading in the right direction. February 14, 2023. REUTERS/Leah Millis/File Photo

[ワシントン１０日ロイター] – U.S. President Biden said on the 10th that February’s employment report, which was released early in the morning, showed that the U.S. economy is heading in the right direction.

Nonfarm payrolls rose by 311,000, according to the February employment report. The growth exceeded market expectations, again demonstrating the firmness of employment.

The unemployment rate rose to 3.6% last month from 3.4%, the lowest since May 1969. I pointed out that the people who had been there are coming back.

He said inflation had slowed recently and was optimistic about next week’s release of the U.S. Consumer Price Index (CPI).

He also criticized right-wing Republican lawmakers’ reckless stance of refusing to raise the debt ceiling unless the administration agrees to cut spending as the biggest threat to the U.S. economic recovery. At the same time, he remained open to sitting down at the negotiating table with Speaker of the House McCarthy (Republican).

March 10, 2023 0 comments

World

NATO membership of two Nordic countries, order is not a concern = White House | Reuters

by Chief editor of world-today-news.com March 3, 2023

written by Chief editor of world-today-news.com

WASHINGTON (Reuters) – U.S. President Joe Biden wants Finland and Sweden to join the North Atlantic Treaty Organization (NATO) on March 2, and believes it is more important for the two countries to become members rather than joining at the same time. Pictured are Finnish, Swedish and NATO flags. Representative photo taken in Brussels in May 2022 (2023 REUTERS)

[ワシントン２日ロイター] – US President Biden wants Finland and Sweden to join the North Atlantic Treaty Organization (NATO). The White House press secretary said on Feb.

When asked if he supported Finland joining NATO before Sweden, John Kirby, director of strategic communications at the National Security Council (NSC), said at a news conference: “Finland and Sweden are great NATO members. It will become a member state,” he said.

“The important thing for us is that both countries become members of NATO,” he said, adding that order was not a concern.

Sweden and Finland applied for NATO membership last year following Russia’s invasion of Ukraine. Both countries hope to join at the same time.

Both countries’ accession requires ratification by all member states, but Turkey and Hungary have yet to do so.

March 3, 2023 0 comments

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