After House Republicans narrowly approved a plan to lift the debt ceiling the ball is definitely in President Biden's court ahead of negotiations happening on May 9th.
Former Connecticut senator Joseph Lieberman reacts to the debt ceiling standoff and says 'it's time' for President Biden to negotiate with House Speaker McCarthy on 'Your World.'
Today, it could be the Congressional Budget Office anticipating a greater chance that the Treasury would run out of funds by June. "Unfortunately, I think we are close to where we were in 2011," said Sen. Martin Heinrich, D-N.M."And that cost us 70 basis points at the time. So this is truly a hot stove and we need to raise the debt limit because in this country we pay our bills.
McCarthy touted an"open amendment process" to Members in order for him to secure the Speakership in January. But Fox was told the intention by Republicans was to lock this bill down with no amendments.However, Republicans would have Pandora’s Box if they re-opened the bill for internal negotiations. "We’re talking about maybe, barely, 10 percent of the debt over the next ten years," said Mace."That’s weak."
"We had a very productive meeting," said Mace on Wednesday afternoon after agreeing to support the debt ceiling measure."A lot of us have not been included in those conversations."Sen. Mitt Romney, R-Utah, is surrounded by reporters as he arrives at the historic Old Senate Chamber at the Capitol in Washington, on Nov. 16, 2022.
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