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Debate between US parties grow as Democrats suspend debt limit
To prevent government shutdown, Democrats are attempting to raise the debt ceiling, but it doesn’t come without protest from Republicans.
In the United States, the Democrats are seeking to combine a short-term spending bill with the suspension of the debt limit.
This follows weeks of debate over how leaders should respond and ultimately prevent a government shutdown.
In a joint statement, Speaker of the House Nancy Pelosi and Senate leader Chuck Schumer said they will suspend the debt limit until the end of 2022, as Pelosi dares Senate Minority Leader Mitch McConnell to ditch the package.
“The American people expect our Republican colleagues to live up to their responsibilities and make good on the debts they proudly helped incur in the December 2020 ‘908’ COVID package that helped American families and small businesses reeling from the COVID crisis.”
Republicans adamant they will not contribute
In protest, McConnel remains certain that the Republicans will not side with the Democrats on the decision to increase the debt limit.
“The country must never default, the debt ceiling will need to be raised. But who does that depends on who the American people elect.”
Senate Minority leader mitch McConnel says.
Schumer says it is shameful that Republicans are even considering blocking the debt ceiling raise.
The reasoning behind the move
Democrats are reassuring that their decision to raise the debt limit does not authorise or allocate new federal spending.
Rather, their decision comes in a bid to borrow extra funding which will be used to cover pre-existing expenditures already approved by Congress.
This includes the bipartisan emergency COVID-relief legislation from December and payments to Social Security recipients and veterans.
Despite this, Treasury Secretary Janet Yellen is warning that under the current circumstances, the department will reach its borrowing capacity during October, with the results potentially devastating for the US economy.
“We would emerge from this crisis a permanently weaker nation,” Yellen wrote in a Wall Street Journal op-ed published over the weekend.
News
Markets shrug as Trump tariffs take effect
Investors remain calm amid Trump’s 15% tariffs, focusing on future policy uncertainty and inflation risks instead.
Investors remain calm amid Trump’s 15% tariffs, focusing on future policy uncertainty and inflation risks instead.
Investors are largely unfazed as U.S. President Donald Trump’s new tariffs officially come into effect. The administration has introduced a blanket 15 percent levy on imports, initially set at 10 percent under temporary regulations, but markets have responded with little drama. Analysts suggest traders have grown accustomed to tariff announcements, limiting any immediate shock to equities.
While the headline policy shift is significant, experts argue the real concern lies elsewhere. Ongoing uncertainty around global trade policy and the potential for further measures is keeping investors cautious. Rather than reacting to the current rate, markets appear more focused on what could come next.
Inflation pressures also remain firmly on the radar, as higher import costs could feed into consumer prices over time. For now, however, the broader market landscape looks largely unchanged, with investors taking a wait-and-see approach.
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News
Savannah Guthrie family offers 1 million dollar reward in search for missing mother
Savannah Guthrie’s family offers $1M reward for info on her missing mother, as FBI investigates suspect linked to DNA evidence.
Savannah Guthrie’s family offers $1M reward for info on her missing mother, as FBI investigates suspect linked to DNA evidence.
The family of US television host Savannah Guthrie is offering a staggering $1 million reward for information leading to the recovery of her missing mother, Nancy Guthrie. Nancy was last seen on January 31 after being dropped off at her home near Tucson, Arizona, before she was reported missing the following day.
Authorities, including the FBI, have been investigating the disappearance, previously raising the reward to $100,000 as the search intensified. Investigators have now obtained a DNA sample from a glove found near Nancy’s home, believed to be linked to a suspect captured in doorbell camera footage before her suspected abduction.
Savannah shared a heartbreaking message as the desperate search continues, with her family urging anyone with information to come forward. The case has gripped the nation as officials pursue every possible lead.
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News
Albanese evacuated from Lodge due to security threat
Anthony Albanese evacuated from The Lodge amid security threat, federal police conducting thorough search assures public safety
Anthony Albanese evacuated from The Lodge amid security threat, federal police conducting thorough search assures public safety
– Prime Minister Albanese was evacuated from The Lodge due to a security threat.
– Australian Federal Police confirmed no current threat to public safety.
Anthony Albanese has been evacuated from The Lodge in Canberra due to a security threat.Federal police relocated the Prime Minister to a secure location around 6 pm.
A comprehensive search of the protection establishment is ongoing.
The Australian Federal Police confirmed there is no current threat to public safety.
An Australian Federal Police spokesperson said they were alerted to an alleged security incident at the property, near Parliament House.
“A thorough search of a protection establishment was undertaken and nothing suspicious was located,” a statement said.
“There is no current threat to the community or public safety.
The scene at The Lodge. Photo Credit: Lexie Jeuniewic
“Further information will be provided at an appropriate time.”
This incident follows a recent event where a man was shot dead by Secret Service agents after breaching the perimeter of Donald Trump’s Mar-a-Lago estate in Florida, while Mr Trump and his wife Melania were in Washington.
Security Incident
Prime Minister Albanese’s evacuation highlights ongoing security concerns. Authorities are increasing vigilance in light of recent events involving high-profile figures.
Coordination between federal and local agencies remains crucial to ensure safety and security protocols are effectively executed.
Earlier in the day, Albanese recorded an hour-long interview with journalist Karl Stefanovic at The Lodge.
Last week, Mr Albanese urged Australians to “turn the temperature down” following a major defence event in Canberra that was disrupted by police-investigated incidents.
Hundreds of attendees at the ADM Congress were evacuated after a suspicious package was discovered. The bomb squad was then deployed to the scene.
During another address, a rock was thrown through a hotel window causing a scramble for the exits.
The evacuation of The Lodge comes amid heightened concerns about threats directed at elected officials across Australia.
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