* Speaker McCarthy asked House Republicans to hang with him amid talks
* McCarthy earlier reported progress with no sign of deal on caps, revenue
* Negotiators met Tuesday; Yellen says default date could come June 1
House Speaker Kevin McCarthy said Tuesday the two sides are 'nowhere near' a deal that would avoid a U.S. default, just hours after both he and President Joe Biden declared negotiators had made progress.
Even as negotiators for the White House and the speaker's office sat down again in earnest Tuesday, the messaging war ramped up as McCarthy issued a memo titled 'reasonable Republicans and default Democrats' that blasted Biden for failing to engage in talks sooner. 'Make no mistake: any default would be the Biden Default,' he wrote.
Read more ....
WNU Editor: The consequence on what may happen if the US not being able to pay their bills is hard to imagine. Tens of millions of Americans are dependent on their US pensions and support programs to survive. Cutting that off will be a disaster, and the social unrest that it will unleash will be massive.
U.S. House Speaker Says The Two Sides Are 'Nowhere Near' A Deal That Would Avoid A U.S. Default
Debt-Limit Talks Stall as Time Runs Short to Avert US Default -- Bloomberg
White House, Republicans to talk US debt ceiling as default risk approaches -- Reuters
McCarthy, Dems temper expectations on debt-ceiling deal -- The Hill
Debt ceiling talks stuck on classic problem: Republicans demand spending cuts and Democrats resist -- AP
8 comments:
Progressive Dems will not budge as they are fanatics. They feel their position on matters is Devine in nature, morally superior if you will. The progressive crusade will destroy everything that’s good about our countries. These people are our true enemies
The Republicans will however bend the knee in the last hour, as the republicans and conservatives are spineless parties. Chinese interference and manipulation in Canadian elections? No inquiry needed. Now move along, nothing to see here.
We’ve had numerous renditions of this farce and someone always folds and things move along until the next time. That being said, if the US actually defaulted it would be a huge deal. Why, you may ask, well other than not being able to pay for government programs the real damage would actually occur in the debt markets. All those bonds and treasury bills that pay very low interest are considered rock solid risk free assets and pay low interest for that reason. A default would destroy that and ramp up interest rates, and possibly make some debt instruments unsellable. That would be monumental and is the real danger.
A dream come true really for those exposed to the precious metals markets
The dollar is so much closer to the brink now than when John Boehner and Obama were playing this game of chicken a decade ago.
Sorry WNU Editor, the US will NOT fall apart. Matter of fact, payments will continue for Pension, Medicaid and Medicare along with SS. Ugh.
When was the last time you visited a Democrat run city? It’s falling apart real bad sweetheart
yes payments will continue.
the real pain will come in the form of debt repayment and new/future obligations. Want that ship built or that road repaired? if the money has not been obligated, it won't be now.
Post a Comment