Biden, McConnell remain at ddds over extending debt ceiling as possible default looms

still does not support Biden's multitrillion-dollar tax and economic agenda, which Biden said will be paid for by raising taxes on corporations and wealthy citizens earning $400,000 a year.

McConnell refused to lend his party's help, saying in a letter he wrote Monday that the Republican Party has already tried to warn the rest of the government of what was to come. "We have no list of demands. For two and a half months, we have simply warned that since your party wishes to govern alone, it must handle the debt limit alone as well," McConnell said.As the government comes critically close to a credit default, Senate Minority Leader Mitch McConnell still does not support President Joe Biden's multitrillion-dollar tax and economic agenda. Above, Biden speaks on the debt ceiling during an event in the White House on October 4, 2021, in Washington.

Biden and McConnell have promised the country will avoid default, yet the public fight and political posturing risks an economic meltdown. The global economy relies on the stability of U.S. Treasury notes, and unpaid debt could crush financial markets and hurl America into recession. Biden said the debt limit applies to borrowing that has already occurred, including under former PresidentOnce a routine vote, the need to raise the nation's debt limit has become increasingly partisan.

The financial markets have stayed relatively calm with interest rates on 10-year Treasury notes holding just below 1.5 percent. That rate is slightly higher than the all-time lows set last year as the coronavirus pandemic spread, but it's still lower than at any other time over nearly 60 years of data tracked by the Federal Reserve.

Biden has maybe 5, 10 years left of life. He won’t have to live with the repercussions of his insane spending plans and the resulting inflation. Get out of the way, old man, before you render all the dreams and work of middle class Americans obsolete.

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Biden calls out Republicans for refusing to help raise debt ceilingPres. Biden delivers remarks on debt ceiling: “Republicans in Congress raised the debt three times when Donald Trump was president and, each time, with Democratic support. But now, they won’t raise it.” How about we LOWER the limit instead? Stop spending. So it's all Trumps agenda and non of that debt is corona vaccine research and stimulus checks, Roger that!
Source: ABC - 🏆 471. / 51 Read more »

Biden says he can't guarantee debt ceiling lift due to 'hypocritical, dangerous and disgraceful' GOP oppositionPresident Joe Biden on Monday said he couldn't guarantee the debt ceiling would be raised in two weeks as he slammed Republicans for opposing efforts to keep the nation from being unable to pay its debts for the first time in its history. No one wants to bring up the fact that the Fed is a foreign owned private bank printing debt as money. Truth hurts so will getting rid of GOP for a party that loves it's country not attacks it January 6 insurrectionist seditious republican party Worst reaction time (no reaction from you yet) ever for a developing worldwide event. Facebook is down everywhere. Where is CNN?
Source: cnnbrk - 🏆 393. / 55 Read more »

Biden: ‘I can’t’ guarantee U.S. won't hit debt limitBiden said Monday that he could not guarantee that the federal government will not default on debt payments due later this month. “I don't believe that. But can I guarantee it? If I could, I would, but I can't,” the president said. Hey Politico - its called Honesty Not something you guys would be familiar with Actually, he said it's up to McConnell and that he didn't think it would come to that but couldn't guarantee it. He said if he could, he would. Hmm...maybe the guy who said all media outlets are trying to help Republicans crash the whole country is right?
Source: politico - 🏆 381. / 59 Read more »