Tag: debt

This Debt Crisis Is Not Like 2011’s. It’s Worse.

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On its surface, the unfolding debt-ceiling crisis looks a lot like the confrontation in 2011 between congressional Republicans and then-President Barack Obama. Once again, a new GOP majority in the House is using the threat of a national default as leverage to force a first-term Democratic president to agree to spending cuts in exchange for lifting the federal borrowing limit. A first-ever default could crash the markets and trigger a recession. But, as in 2011, the two parties remain far apart, with a deadline to act approaching rapidly. Eric Cantor…

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Biden invites McCarthy to White House for debt talks as new default deadline looms June 1

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President Biden reversed course Monday and invited House Speaker Kevin McCarthy and other congressional leaders to the White House next week for talks, as the Treasury Department warned the U.S. could default on some of its bills as early as June 1. The Washington Times stories: White House

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House’s MAGA Debt Limit Bill Puts All Republicans On The Record In Favor Of Cuts To Veterans Benefits, Health Care and Other Vital Programs. We Will Hold Them Accountable

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Washington, D.C. –In response to the House Debt Ceiling vote, MoveOn Political Action Executive Director Rahna Epting issued the following statement: “Every Republican just went on the record for devastating cuts to veterans benefits, health care and numerous other vital programs. We are going to make sure their constituents don’t forget it, today, tomorrow, and every day between now and Election Day.  Every member in a vulnerable district who aligned with Speaker McCarthy and Marjorie Taylor Greene are on notice for voting in lockstep with the deeply unpopular MAGA wing.” …

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