Joe Biden approved legislation raising the debt ceiling until early December. He signed the measure Thursday ahead of an October 18 deadline to avoid defaulting on the debt limit.
House Speaker Nancy Pelosi (D-Calif.) said she’s “very disappointed” Democrats are not going ahead with the proposed $3.5 trillion reconciliation bill. During a press conference this week, she claimed the spending package would have been very transformative, but insisted it will still lead to extensive reform.
California Rep. Maxine Waters (D) is blasting Democrat Senators Joe Manchin (D-W.Va.) and Kyrsten Sinema (D-Ariz.) over their hesitation toward Joe Biden’s multi-trillion-dollar reconciliation bill.
In an exclusive interview Sen. Rand Paul tells One America News that he plans to vote against even a temporary increase in the debt limit. One America’s John Hines has more.
The Senate voted to increase the debt ceiling by $480 billion. In a 50-to-48 vote on Thursday, the Senate narrowly voted to raise the debt limit through Dec. 3. This comes just after the Senate voted to finish debate on the bill, narrowly passing the 60-vote threshold needed to do so.
CEOs of transnational corporations are stirring up fears of a possible default on U.S. national debt while calling it “a catastrophe.”
Treasury Secretary Janet Yellen said “it would be catastrophic to not pay the government’s bills” while warning of the potential impact of not raising the debt ceiling. In an interview Tuesday, she said she would fully expect a recession if Congress fails to raise the debt limit.