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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

News

Social “Threads” gets ahead as X continues to confuse

Published

on

Threads, the social media platform owned by Meta, is gaining traction with a surge in daily active users, outpacing X in the U.S.

 

With Threads averaging 28 million daily active users compared to X’s 22 million, Meta’s ambitions to reach a billion users seem within reach despite a slowdown in growth. While X still boasts 550 million monthly active users globally, Threads’ focus on user experience and avoidance of real-time and political content could position it as a formidable competitor moving forward.

Continue Reading

News

Zendaya brings the heat as Marvel brings back a favourite

Published

on

This weekend’s entertainment lineup has something for everyone.

Apple TV+ brings “Sugar,” a drama set in New York City, while “Civil War” offers historical intensity. “Challengers” with Zendaya brings a saucy sport drama to life, and superhero buffs can catch “Deadpool and Wolverine” for action-packed fun. With options spanning drama, history, reality, and superheroes, there’s excitement in store for all this weekend.

Continue Reading

News

Technological terror: China reveals uncanny AI romance film

Published

on

As competition intensifies in the streaming landscape, with players like Roku, Vizio, and Samsung launching their ad-supported platforms, TCL aims to carve its niche by offering compelling original content.

TCL, the renowned Chinese smart-TV manufacturer, announces its innovative use of generative artificial intelligence to produce original content for its streaming platform, TCLtvPlus.

Debuting this summer, “Next Stop Paris,” an AI-driven love story, marks the inaugural program from TCLtvPlus Studios

Continue Reading
Live Watch Ticker News Live
Advertisement

Trending Now