Biden returns to Washington as debt ceiling fight continues – Live | US News

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15:35

I don’t understand why we are still talking about the debt ceiling? Here’s a good breakdown of what’s going on and why you should care – and the role the obstruction plays in it all.

Jennifer bendery
(@jbendery)

For anyone bored of talking about the debt limit: yes, that sounds boring.

What’s not boring is that Congress has until Oct. 18 to raise the debt ceiling, at the latest, before the U.S. government runs out of money. This has never happened before and would be an economic disaster.


October 4, 2021

Jennifer bendery
(@jbendery)

Define the economic catastrophe? According to an analysis by Moody’s Analytics, not increasing the debt limit on time could …

Plunge the United States into an immediate recession.

Cost of the economy ~ 6 million jobs.

Erase $ 15T – with a T – in household wealth.

Increase unemployment to 9%.


October 4, 2021

Jennifer bendery
(@jbendery)

Treasury Secretary Janet Yellen has warned that even waiting until the end of October 18 to raise the debt ceiling could cause economic damage, such as increasing borrowing costs for taxpayers + negatively impacting credit scores. United States “for years to come”.


October 4, 2021

Jennifer bendery
(@jbendery)

McConnell keeps saying that because Democrats voted against increasing the debt ceiling in 2006, when Republicans controlled the entire government, it’s no different than Republicans forcing Democrats to raise the debt ceiling themselves this time around.

It is extremely misleading.


October 4, 2021

Jennifer bendery
(@jbendery)

In 2006, Democrats voted against increasing the debt ceiling.

But it was * after * that they accepted a Republican demand to increase the debt limit by a majority vote, or 51 votes, instead of requiring 60 votes to break an obstruction.

This ensured that the GOP had the voices to do so.


October 4, 2021

Jennifer bendery
(@jbendery)

It’s not the same thing Republicans are doing right now, which is much more dangerous.

They are actively preventing Democrats from raising the debt ceiling themselves, with 51 votes.


October 4, 2021

Jennifer bendery
(@jbendery)

Democrats tried to raise the debt ceiling twice last week.

The Republicans blocked them both times.


October 4, 2021









15:12

majority leader in the Senate Chuck schumer just sent a letter to his colleagues reiterating that “we must send a bill to the president’s office dealing with debt limit at the end of the week.”

“We don’t have the luxury of waiting until October 18,” Schumer wrote.

He said that the refusal of the Republicans to extend the country’s debt limit and to “pay the expenses and debts incurred as a result of the bipartite legislation on covid relief spent during the The Trump administrationIs “a stark reminder of how absurd Republicans and supporters have gone about the process of increasing the speed limit.” “

Jake sherman
(@JakeSherman)

here is the full letter – also says end of October is the deadline for BBB / infra pic.twitter.com/u09t7SfxRU


October 4, 2021









14:56

Grisham: Trump will run again in 2024

Martin pengelly

Former White House press secretary Stephanie Grisham thinks Donald Trump will be presidential candidate again in 2024, and will present a much greater danger to American democracy if he wins than at any time during his four years in power.

“He is clearly the favorite of the Republican Party”, Grisham told ABC’s Good Morning America. “Everyone shows him their loyalty. He is on a revenge tour, for the people who dared to vote for impeachment.

“And I just want to warn people that once he takes office, if he wins, he doesn’t have to worry about being re-elected anymore. He will be on the verge of revenge, he will probably have fairly draconian policies. “

As Grisham spoke, the Washington Post reported that Trump was set to announce a race in 2024 in August, to be advised to stop.

On Tuesday, Grisham, also a former close associate of Melania Trump, will publish a revealing book, I’ll Take Your Questions Now. It was widely followed.









14:29

Biden returns to Washington with impending debt decision

Hi, live blog readers.

Joe biden go back to Washington this morning from Wilmington with the intention of speaking in a few hours on the debt ceiling.

Seung Min Kim
(@seungminkim)

On Biden tmrw’s timeline, by WH:

“The President will deliver remarks on the need for Congress to meet its shared responsibility and tackle the debt ceiling, after Senate Republicans twice voted in favor of default last week and continue to block Democrats’ efforts to avoid default. “


October 4, 2021

To recap: Last week was yet another tense chicken party in the realm of US politics. The US government avoided a partial federal judgment when the Senate and representatives room passed a bill to keep government funding until Dec. 3 – but by passing the bill, Democrats were forced to remove terms that would have raised the debt ceiling.

There is also the small question of Biden’s domestic spending program, of course, as moderates and progressives in the Democratic Party continue to fight over prices and political priorities. The bill on infrastructure, which is bipartisan, and the domestic spending proposals, which are not, are at issue.

Much more to follow, of course, and more here:



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