U.S. President Joe Biden departs the White House in Washington, U.S., October 5, 2021. REUTERS/Kevin LamarqueWASHINGTON, Oct 6 - U.S. President Joe Biden piled the pressure on congressional Republicans to vote for a debt ceiling increase in a meeting with bank and business leaders at the White House on Wednesday, saying their opposition would take America "right to the brink."
Treasury Secretary Janet Yellen has estimated that a U.S. debt default could occur around Oct. 18 if Congress fails to give the government additional borrowing authority beyond the current statutory limit of $28.4 trillion, which was reimposed after a two-year suspension expired in late July. A U.S. debt default would severely hurt the country's credit rating, plunge the global financial system into turmoil and poses aChief executives of large American banks at the White House expressed alarm at the potential fallout.
Nasdaq CEO Adena Friedman also urged immediate action. When Biden asked her about the fallout if the United States were to default even for a day, Friedman said "we would expect the markets would react very very negatively." "The United States of America defaulting on its obligations is not an option; we are counting on Congress to take the necessary steps to address the debt limit," wrote Neil Bradley, executive vice president and chief policy officer at the U.S. Chamber of Commerce, the nation’s largest corporate lobbying group.
be fair, this looks like 007 movie
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Biden slams Republicans for using 'procedural tricks' to block raising debt limitPresident Biden criticized Republicans for threatening to block a raise to the debt ceiling in Congress with what he called 'procedural tricks.' He also emphasized how raises to the debt limit in the past have been a 'bipartisan undertaking' and urged Congress to act soon. What is even worse than the 8 trillion, is what we got for it ? Not much. pleas folow me 🖕🏼🤡
Source: MSNBC - 🏆 469. / 51 Read more »
Biden accuses Republicans of 'Russian roulette' on debt limitThe White House is looking to reset the messaging this week around its multi-trillion dollar spending bills deadlocked in Congress, as President Joe Biden hits the road to pitch popular elements of the package. That is the face of a President that is seeking to destroy the greatest democracy conceived by the Founding Fathers! Be aware, if you voted for Joe Biden, you will be one of the misguided people that helped to destroy this great nation, OMG! I'm glad he's calling the GOP. They spend us into oblivion and now they don't want to pay the bills they aquired. Fellow Americans: If you belong to a Party that attacked us on Jan 6th and is now trying to not raise the debt limit after the Covid costed us so much. In hope of crashing the stock market and destroying America, all I ask is Why? Gregory St. James Mundy (author of I LOVE GOD)
Source: YahooNews - 🏆 380. / 59 Read more »
U.S. Senate Democrats plan debt-limit vote after Biden hints filibuster could goSenate Democrats are set to try again on Wednesday to extend the U.S. government's borrowing authority to head off a catastrophic default, after President Joe Biden suggested they could change the chamber's rules to bypass a Republican roadblock. NO MANDATE from the American people for this Socialism. NONE!! How did our Centrist nation fall under the spell of an ultra-Left group that admires Communist regimes like Cuba, loathes Israel – the only democracy in the Middle East and one that does not pay terrorists to kill their enemies – and wants to bring cradle-to-grave welfare here Biden and his Team plus Democrats and the Left's poor policies have created crisis after crisis: BIDEN FAILING AMERICA -Covid Failure -Jobs crisis -Energy Crisis -Inflation Crisis -Border Crisis -Afghanistan Crisis -Confidence crisis -Iran Screw up What's next?
Source: Reuters - 🏆 2. / 97 Read more »
U.S. Senate Democrats plan debt-limit vote, Biden hints filibuster could goSenate Democrats are set to try again on Wednesday to extend the U.S. government's borrowing authority to head off a catastrophic default, after President Joe Biden suggested they could change the chamber's rules to bypass a Republican roadblock. Manchin said no to ending the fillibuster Watch out for that digger Joe
Source: Reuters - 🏆 2. / 97 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 »
Biden calls for Senate to vote on debt limit increase this weekPresident Joe Biden called Monday for a Senate vote this week on raising the country's debt limit, saying opposition from Republicans could create 'a self-inflicted wound that takes our economy over a cliff.” There's only an 'alarming price-tag' on Dem initiatives, not on GOP initiatives. GOP only does tax-cuts for the rich, which is as far as their imaginations take them, and they don't care what those cost! Republican politicians are protecting their billionaire owners interests. They definitely ain’t protecting us non-billionaires Asking for greater taxes and nobody is working is how to destroy a nation and currently the Democrats are doing that.
Source: YahooNews - 🏆 380. / 59 Read more »