Can U.S. lawmakers agree on the debt limit before the fast approaching deadline to avoid default?

 
The executive branch and Congress are trying to strike a deal about the debt limit as the country marches closer to defaulting.

But can President Joe Biden and Republicans come to an agreement on fiscal policy in time?

The federal government could run out of money as early as June 1. Without borrowing more there is a risk that the United States will begin defaulting on its financial obligations.

Negotiations between Speaker Kevin McCarthy and President Joe Biden at the White House continue as lawmakers are staring down a swiftly approaching deadline.

The Treasury has been warning that the government would likely default on some bills in June if Congress does not raise the debt ceiling.

Democrats have insisted on raising the debt limit without preconditions. But Republicans say President Biden and the Democrats are playing Russian roulette with America’s economy after a two-year spending binge that brought 40-year high inflation and pushed the nation’s debt to over $31-trillion.

While both sides have agreed that action is needed to reduce the deficit—each have extremely different ideas about how to do it.

Republicans are looking to cut spending levels, while Democrats have called to increase tax revenue from the ultra-wealthy and large corporations.

So, can Washington D.C. politicians broker a deal and prevent the American economy from falling off a cliff?

Mitch Roschelle, Managing Director at Madison Ventures and a Visiting Research Fellow at the University of San Diego School of Business joined us to discuss. #U.S. Politics #Mitch Roschelle #debt ceiling #Capitol Hill #Washington D.C.

The next CEO of Australia’s high-profile airline, Qantas has a huge task ahead

After the long reign of her predecessor Alan Joyce, Vanessa Hudson inherits an airline with some key challenges ahead.

The challenges facing any CEO at the moment are high. Rising costs, tough competition, and cash-strapped customers are all part of the package when it comes to running an airline.

Qantas is one of the world’s most famous airlines.

At the height of the pandemic, the company’s results see-sawed.

However, it survived in part due to the actions of CEO Alan Joyce, and his right-hand CFO Vanessa Hudson.

Now, Alan Joyce is stepping down and Vanessa Hudson beat a field of 40 contenders for his job.

While Alan Joyce kept shareholders happy in recent times, some analysts believe he skimped on capital expenditure, leaving a multi-billion dollar hit to the new CEO.

The U.S. has witnessed one of the biggest bubbles of the past 100 years

 
Three U.S. banks have collapsed in a matter of months.

It could spell trouble for the world’s biggest economy as inflation soars.

It is part of a phenomenon known as an economic bubble, where current asset prices exceed their intrinsic valuation.

Silicon Valley Bank and Signature Bank are among those to fall apart.

Gregory Becker is the former CEO of the collapsed SVB, who says he’s “truly sorry” for what’s happened.

He says the bank was responsive to regulator concerns about managing risk and working to address issues.

Governments are grappling with the most rapid increase in interest rates across four decades. #featured #business #politics #banking