The U.S. has hit its debt limit, kicking off a monthslong countdown to a possible government default.
Asked twice Wednesday if there was evidence that House Republicans can ensure that the government will avert a default, White House press secretary Karine Jean-Pierre said it's their"constitutional responsibility" to protect the full faith and credit of the United States. She did not say whether the White House saw signs at this stage that a default was off the table.For his part, McCarthy said Mr.
Any deal would also need to pass the Democratic Senate. Many Democratic lawmakers are skeptical about the ability to work with Republicans aligned with the"Make America Great Again" movement started by Trump. The MAGA movement has claimed that the 2020 election lost by Trump was rigged, a falsehood that contributed to the Jan. 6, 2021, insurrection at the U.S. Capitol.
What happens if these measures are exhausted without a deal to raise the debt limit is unknown. A prolonged default could be devastating, with crashing markets and panic-driven layoffs if confidence evaporated in a cornerstone of the global economy, the U.S. Treasury note.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Because Congress 'Won't Act,' Lawmakers in Seven States Team Up to Introduce Wealth Tax Bills'States are stepping up to make billionaires pay their fair share, and it's time for Congress to take action too,' said U.S. Sen. Elizabeth Warren.
Read more »
Gold Price Forecast: XAU/USD remains defensive, focus on United States Treasury bond yields, Retail SalesGold price (XAU/USD) remains lackluster as buyers struggle defend the $1,900 threshold after declining during the first two days of the week. The yell
Read more »
DoorDash will soon deliver Starbucks all over the United StatesDoorDash and Starbucks have announced that they are expanding their delivery partnership nationwide in the United States.
Read more »
Washington Examiner hiring Social Media Marketing Specialist in Washington, District of Columbia, United States | LinkedInPosted 9:16:01 PM. The Washington Examiner is hiring for its social media team. We’re looking for political news…See this and similar jobs on LinkedIn.
Read more »
Yellen says Treasury is taking extraordinary measures to avoid default as U.S. hits debt limit
Read more »
Treasury began using 'extraordinary measures' Thursday as debt limit reached, Yellen saysTreasury Secretary Janet Yellen confirmed to top U.S. lawmakers in a letter that her department began to use 'extraordinary measures' on Thursday due to the...
Read more »