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Debt ceiling negotiations continue as default deadline looms


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#1 pdx5

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Posted 23 May 2023 - 06:59 PM

Republican negotiators say "significant gap" remains on debt ceiling talks 

From CNN's Kristin Wilson, Haley Talbot, Nicky Robertson and Morgan Rimmer

After another day of negotiations on Capitol Hill, there is still a "significant gap" between House Republicans and the White House on how to resolve the looming debt ceiling deadline, according to the GOP negotiators.

Reps. Garret Graves and Patrick McHenry said that until the president and the White House “recognize that this is a spending problem” those gaps could remain. The Treasury Department has said the country could default as soon as June 1.

Graves said there are no planned meetings tonight with the White House, but the door is open for more talks should the administration want to return to the Capitol. He said Republican negotiators are meeting in Speaker Kevin McCarthy's office to try to come up with other options to cut spending.

McCarthy has said over the week that he needs an agreement to come together by the end of the week in order to meet the “X date” deadline, a date that some in his conference has said is not a hard-and-fast date.

McHenry, however, said he trusts Treasury Secretary Janet Yellen's assessment, saying, "She said June 1, and she is in charge of cash management. There's a whole bureaucracy within the Treasury. They don't play games. They don't play games.”

This underscores that the clock is ticking for both sides, with McHenry saying it will take 24 to 48 hours to actually write the legislation. He also said they will keep the rule in the House that allows members three days to review the bill before voting on it.

Live updates: Debt ceiling negotiations continue as default deadline looms (cnn.com)

 


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#2 b2b

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Posted 23 May 2023 - 07:01 PM

usual drama...nothing new



#3 pdx5

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Posted 23 May 2023 - 07:04 PM

The drama is more intense this time because interest on national debt is fast approaching defense budget.

And the debt is 120% of GDP. That was not the situation in recent debt limit negotiations.


Edited by pdx5, 23 May 2023 - 07:04 PM.

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#4 fib_1618

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Posted 23 May 2023 - 11:23 PM

The House has already passed a budget. He who has no name waited 96 days to finally negotiate after saying bluntly back in late January that he would "never negotiate with the Republicans about the debt ceiling" thinking that McCarthy would cave like the party has always done in the past (including 2011). If there is a default, we all know who to blame...default away. All of the current cliches are just political theater with the same old platitudes and finger pointing from those who wish to destroy Capitalism and our Constitutional Republic. Besides, there is already plenty of tax revenue that can be used beyond Yellen’s June deadline...it's all scare tactics by the same Marxist thugs who have gave us COVID, the Green Deal and a porous southern border...bureaucratic collectivism at its very worst. Hopefully the American people will (finally) see through this charade and take their sides appropriately but that's not likely because, at the end of the day, no one really cares enough to educate themselves beyond the constant barrage of trite media propaganda.

 

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Edited by fib_1618, 23 May 2023 - 11:50 PM.

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#5 pdx5

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Posted 24 May 2023 - 10:27 AM

Talks are stalled again. The socialists want to keep spending way more than tax revenues.


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