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Biden and McCarthy to resume talks Monday as debt ceiling deadline looms
Biden and McCarthy to resume talks Monday as debt ceiling deadline looms
President Joe Biden spoke with House Speaker Kevin McCarthy on Sunday and agreed they would meet on Monday afternoon to try to break the stalemate over legislation to raise the national debt limit. A call took place, according to a White House readout, which gave no indication to the tone of the discussion. Mr McCarthy characterised the call as “productive” in a comment to reporters. A day earlier, the Speaker said negotiations had taken a step backward following Mr Biden’s remarks that he believed the 14th Amendment could be used to circumvent Congress on the issue. “I don’t think we’re going to be able to move forward until the president can get back into the country,” Mr McCarthy said on Saturday. “Just from the last day to today they’ve moved backwards. They actually want to spend more money than we spend this year.” Mr Biden’s call with Mr McCarthy took place while the president was on Air Force One bound for the US on Sunday. He had cut short his attendance at the G7 summit in Japan in order to lead negotiations with Republicans on the issue. During an appearance on Sunday show, Meet the Press, Treasury Secretary Janet Yellen once again warned that the federal government is projected to run out of money on or about 1 June. Should the US be unable to pay its outstanding obligations to debt holders, or even raise questions about its ability to do so, it risks a downgrade of the US’s credit rating which would affect interest rates on future loans. The last official downgrading of the United States’s credit rating occurred in 2011, when Standard and Poor’s dropped the US’s rating from “AAA” to “AA+”. “I indicated in my last letter to Congress that we expect to be unable to pay all of our bills in early June and possibly as soon as June 1. And I will continue to update Congress, but I certainly haven’t changed my assessment. So I think that that’s a hard deadline,” Sec. Yellen said. She added that the possibilty was “quite low” that the US could extend its ability to pay its obligations through 15 June - referencing remarks made by Republicans who suggested Treasury could maneuver past a 1 June deadline without hitting a default. ”[I]t’s hard to be absolutely certain about this, but my assessment is that the odds of reaching June 15th, while being able to pay all of our bills, is quite low,” said Ms Yellen. “[M]y assumption is that if the debt ceiling isn’t raised, there will be hard choices to make about what bills go unpaid.” Mr Biden has been roundly accused by conservatives of refusing to negotiate cuts to federal spending ahead of the debt ceiling deadline. The White House, meanwhile, has blamed Republicans for putting the country’s credit rating at risk. Earlier on Sunday, the president spoke at a press conference and did not indicate that he was completely opposed to reaching a compromise with Republicans on spending levels, though he warned that the GOP must be willing to move in his direction as well. “It’s time for Republicans to accept that there’s no bipartisan deal to be made solely — solely — on their partisan terms,” said Mr Biden. “They have to move as well.” Read More ‘Putin will not break our resolve,’ Joe Biden tells G7 Top House negotiator on debt limit says it's time to 'press pause' as talks come to standstill Biden meeting with Indo-Pacific leaders at G7 summit while confronting stalemate over US debt limit Debt ceiling showdown: Biden and congressional leaders to meet as McCarthy pushes for faster deal Most say pair debt limit increase with deficit cuts, but few following debate closely: AP-NORC poll G7 finance leaders promise support for Ukraine, vow to enforce sanctions against Russia
2023-05-22 05:45
Warner CEO booed at Boston University as supporters of writers' strike picket outside
Warner CEO booed at Boston University as supporters of writers' strike picket outside
Scores of Boston University students turned their backs on the head of one of Hollywood’s biggest studios as he gave the school’s commencement address in a stadium where protesters supporting the Hollywood writers’ strike picketed outside
2023-05-22 05:29
'A gift to my ancestors': Meet the Palestinian-American authors bringing their culture to the heart of children's books
'A gift to my ancestors': Meet the Palestinian-American authors bringing their culture to the heart of children's books
Hannah Moushabeck remembers the warm feeling of snuggling beside her two sisters under a heavy blanket, giggles filling their bedroom as they waited for baba to tuck them in and share another bedtime story.
2023-05-22 04:48
Traders Brace for Volatility With US Debt Deal Still Elusive
Traders Brace for Volatility With US Debt Deal Still Elusive
Investors are girding for spikes in currency volatility and losses in equities as the US struggles to clinch
2023-05-22 04:47
Warner Bros Discovery chief booed at Boston University graduation, videos show
Warner Bros Discovery chief booed at Boston University graduation, videos show
Warner Bros Discovery chief executive David Zaslav was booed by students after taking the stage at Boston University
2023-05-22 04:22
Missing boys found dead in separate Manhattan rivers, NYPD says
Missing boys found dead in separate Manhattan rivers, NYPD says
Two New York boys reported missing last week have been found dead in different rivers in Manhattan, police say.
2023-05-22 04:18
Goldman Says Treasury Will Drop Under Its Cash Minimum June 8-9
Goldman Says Treasury Will Drop Under Its Cash Minimum June 8-9
Goldman Sachs Group Inc. economists estimated that the Treasury Department will by June 8 or 9 see its
2023-05-22 04:16
How wildfires in Alberta lead to poor air quality in the Midwest
How wildfires in Alberta lead to poor air quality in the Midwest
Residents of the central United States experienced poor air quality and smoke over the weekend. The potentially dangerous air has a far-off source: the wildfires raging in Canada.
2023-05-22 03:51
Father killed, 2 teenage sons injured after a grenade exploded in an Indiana home
Father killed, 2 teenage sons injured after a grenade exploded in an Indiana home
The family members were going through a grandfather's belongings Saturday evening when they found the device, Lake County Sheriff's Office spokesperson Pam Jones said in a news release.
2023-05-22 03:28
Ukraine-Russia war – live: Putin’s troops ‘partly encircled’ in Bakhmut, claims Kyiv
Ukraine-Russia war – live: Putin’s troops ‘partly encircled’ in Bakhmut, claims Kyiv
Ukraine is seeking to encircle Russia’s troops in Bakhmut, as president Volodymyr Zelensky rejected counterpart Vladimir Putin’s claims to have finally captured the city after nine months of Europe’s bloodiest fighting in decades. Mr Putin congratulated his troops after the Wagner Group claimed its mercenaries had seized the frontline Donetsk city on Saturday afternoon with “practically no” help from the Russian army. But speaking from the G7 summit in Hiroshima, Mr Zelensky was insistent that Bakhmut – where US president Joe Biden claimed 100,000 Russian troops had died in recent months – “has not been captured by” Moscow. The commander of Ukraine's ground forces, General Oleksandr Syrskyi, also claimed Kyiv’s troops were advancing on Russian forces in the suburbs and were getting closer to a “tactical encirclement” of the city. Echoing these claims, Kyiv’s deputy defence Minister Hanna Maliar said: “Our forces have taken the city in a semi-encirclement, which gives us the opportunity to destroy the enemy ... [who] has to defend himself in the part of the city he controls.” Read More UK support for Ukraine will ‘never waver’, Rishi Sunak tells Zelensky Russia warns of ‘colossal risks’ if F-16 fighter jets sent to Ukraine Britain says Russia will ‘pay the price’ for Ukraine invasion as fresh wave of sanctions unveiled
2023-05-22 02:51
Ex-Trump lawyer reveals in-fighting among former president’s legal team
Ex-Trump lawyer reveals in-fighting among former president’s legal team
An attorney working Donald Trump’s legal team has quit, citing in-fighting among the former president’s inner circle. Timothy Parlatore left his role this week, according to The New York Times, after working for Mr Trump for at least a year. In an interview with CNN on Saturday, Mr Parlatore explained that the reason for his departure was ongoing friction with Boris Epshteyn, another legal adviser to Mr Trump. Mr Epshteyn, according to Mr Parlatore, has been stonewalling the legal team in their attempts to ascertain whether all presidential records that Mr Trump took with him when he left the White House had been turned over to the National Archives. The removal of official presidential records by Mr Trump led to the Justice Department’s raid of his Florida home, Mar-a-Lago, last fall. Mr Epshteyn “attempted to interfere” with attorneys’ efforts to search Mar-a-Lago for more documents, Mr Parlatore said. The advisor also “served as kind of a filter to prevent us from getting information to the client”, feeding Mr Trump his own opinions instead, Mr Parlatore told CNN. “The real reason is because there are certain individuals that made defending the president much harder than it needed to be. In particular, there is one individual who works for him, Boris Epshteyn, who had really done everything he could to try to block us, to prevent us from doing what we could to defend the president,” said Mr Parlatore. “In my opinion, he was not very honest with us or with the client on certain things,” he added. Mr Trump’s team denied Mr Parlatore’s characterisation of the events leading to his departure. “Mr. Parlatore is no longer a member of the legal team. His statements regarding current members of the legal team are unfounded and categorically false,” a spokesperson told CNN. The legal issues of Mr Trump remain under intense scrutiny after he announced his third presidential campaign for the White House in 2024. Earlier this month, Mr Trump was found liable in a civil lawsuit over the sexual abuse of the writer E Jean Carroll in the 1990s. At one point during his deposition, Mr Trump appeared to confuse an image of Ms Carroll with his ex-wife, Marla Maples after previously claiming that Ms Carroll was not his “type”. Mr Trump is facing a host of other legal battles, both criminal and civil, which threaten him and his business empire. New York Attorney General Letitia James is investigating a civil fraud case against the Trump Organization and the Manhattan District Attorney Alvin Bragg is prosecuting him for hush payments he allegedly directed to porn star Stormy Daniels in 2016. In Georgia, Fulton County’s District Attorney Fani Willis is deliberating whether to prosecute Mr Trump or members of his team for their attempts to overturn the state’s presidential election results in 2020. Read More South Carolina Republicans hear pitches from 2024 candidates, reelect state party chairman DeSantis super PAC tackles tricky task of organizing support for him in Iowa without the candidate Trump’s White House lawyer predicts ex-president will end up in jail as Mar-a-Lago probe heats up Ivanka and Jared split over attending Trump 2024 launch – follow live Why was Donald Trump impeached twice during his first term? Four big lies Trump told during his 2024 presidential announcement
2023-05-22 02:47
US debt ceiling: Joe Biden and Kevin McCarthy seek to break impasse
US debt ceiling: Joe Biden and Kevin McCarthy seek to break impasse
The president flies home from the G7 summit amid hopes of a deal with top Republican Kevin McCarthy.
2023-05-22 02:24
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