President Biden ripped Republicans during his State of the Union address for efforts to use the nation’s debt ceiling as leverage to extract spending cuts from Democrats. “Some of my Republican friends want to take the economy hostage, I get it, unless I agree to their economic plans,” Biden said Tuesday night as the White…
Author: Aris Folley
On The Money — Will Biden get credit for the jobs boom?
President Biden is set to tout surprisingly strong jobs data, but most Americans are still down on the U.S. economy. We’ll also look at how the jobs report may send interest rates higher, Democrats’ response to McCarthy’s spending cut demands, and more. But first, check out The Hill’s live blog for the State of the Union address. …
New study: Budget deficit jumps in concern as COVID worries decline
More Americans say they’re concerned about the nation’s budget deficit, new polling shows, as the ongoing battle over the debt limit continues to dominate attention on Capitol Hill. Survey results released by the Pew Research Center on Monday showed 57 percent of Americans see reducing the budget deficit as a top priority for the president…
Five ways a federal debt default could hurt Americans
Americans are getting a crash course on the country’s borrowing limit, as a high-stakes standoff on Capitol Hill dominates national attention. Last month, the Treasury Department announced it’s implementing “extraordinary measures” to keep the nation from defaulting on its debt, after it hit the roughly $31.4 trillion limit set by Congress more than a year…
On The Money — 5 takeaways from a surprisingly strong jobs report
The U.S. economy surpasses Wall Street expectations with the recent jobs report. We’ll also look at some of the hurdles House Republicans face in trying to unify as the party works to hash out a cost-cutting budget strategy, the conference’s newest group targeting ESG investing, and more. 🎈 But first, why is everyone talking about a Chinese…
House GOP struggles over budget ideas
House Republicans are struggling to unify as the party tries to hash out a cost-cutting budget strategy, creating headaches for Speaker Kevin McCarthy (R-Calif.) as he launches high-stakes talks with President Biden over raising the debt limit. Republicans charged into the year newly energized with their House majority, and all factions of the conference say…
Moderate House Democrats offer help to McCarthy, Biden on debt limit
A coalition of moderate House Democrats is offering a helping hand to Speaker Kevin McCarthy (R-Calif.) and President Biden in debt limit talks while urging them to work toward “good faith negotiations” as both leaders prepare to meet on Wednesday. “With the deadline to increase the statutory debt limit only a few months away, we…
Rand Paul: GOP should give up ‘sacred cow’ and trim military spending
Sen. Rand Paul (R-Ky.) on Wednesday pushed Republicans against taking military spending off the table as the party looks for ways to tackle government funding in talks on how to address the debt limit this year. While speaking at a press conference on Wednesday afternoon, Paul framed the partisan battle over the nation’s debt limit…
Warren: Republicans threatening to ‘wreck’ economy in debt ceiling battle to protect wealthy
Sen. Elizabeth Warren (D-Mass.) on Monday took a jab at Republicans in the ongoing debt ceiling fight, accusing the party of trying to “wreck the economy” to protect wealthy taxpayers. “If this were really about the national debt, then there are plenty of places we could go to stitch up loopholes, like no more of…
McCarthy tries to get out of his box on debt ceiling
House Speaker Kevin McCarthy (R-Calif.) is pressing for Democrats to come to the bargaining table and begin negotiations to address the nation’s debt limit, as he faces pressures within his party to make good on significant fiscal reform. McCarthy called on the White House to start discussions this week. But as both sides gear up for the…