Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

News

Debate between US parties grow as Democrats suspend debt limit

Published

on

To prevent government shutdown, Democrats are attempting to raise the debt ceiling, but it doesn’t come without protest from Republicans.

Democrats Chuck Schumer and Nancy Pelosi

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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Ukraine and Russia set for U.S.-brokered peace talks in Abu Dhabi

Published

on

Ukrainian President Volodymyr Zelenskyy has confirmed that new peace talks with Russia will take place in Abu Dhabi later this week. The discussions are part of U.S.-led efforts to find a path toward ending the ongoing war.

Zelenskyy emphasised that Ukraine is prepared for meaningful dialogue aimed at achieving peace. The announcement comes after weeks of uncertainty over the timing of the meeting.

U.S. special envoy Steve Witkoff described prior discussions with Russian officials as productive, though major disagreements over territorial issues remain unresolved.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

Continue Reading

News

Tensions rise as Iran threatens conflict and U.S. increases naval forces

Iran warns of regional conflict, labels European armies terrorists; U.S. boosts naval presence as both sides consider negotiations.

Published

on

Iran warns of regional conflict, labels European armies terrorists; U.S. boosts naval presence as both sides consider negotiations.

Iran has warned of a potential regional conflict if the U.S. launches an attack, while labelling European armies as terrorists. Supreme Leader Ayatollah Ali Khamenei insisted that threats from President Trump will not intimidate the Iranian people.

The U.S. has ramped up its naval presence in the Middle East in response to mounting threats, amid speculation over Iran’s next moves. Iranian officials have denied claims of imminent naval exercises in the Strait of Hormuz, adding to global uncertainty.

#MiddleEastCrisis #IranUS #Geopolitics #NavalTensions #Trump #AyatollahKhamenei #EuropeanUnion #GlobalConflict
Download the Ticker app

Continue Reading

News

Carlos Alcaraz becomes youngest man to complete career Grand Slam

Carlos Alcaraz, at 22, stuns tennis by winning the Australian Open, defeating Djokovic, and celebrating with a kangaroo tattoo.

Published

on

Carlos Alcaraz, at 22, stuns tennis by winning the Australian Open, defeating Djokovic, and celebrating with a kangaroo tattoo.

Carlos Alcaraz has stunned the tennis world by winning the Australian Open, becoming the youngest man to complete a Career Grand Slam at just 22 years old.

The world number one beat Novak Djokovic in a thrilling four-set match, finishing 2-6, 6-2, 6-3, 7-5. Djokovic missed out on claiming his 25th Grand Slam title. To mark the milestone, Alcaraz revealed he plans to add a new tattoo of a kangaroo on his leg, joining his existing Eiffel Tower and Wimbledon strawberry tattoos.

#CarlosAlcaraz #AustralianOpen #GrandSlam #TennisHistory #NovakDjokovic #SportsNews #TennisTattoo #YoungChampion


Download the Ticker app

Continue Reading

Trending Now