Yellen Continues to Hound McCarthy About the Ceiling Debt, Ignores Biden

On Monday afternoon, Secretary of the Treasury Janet Yellen once again sent a letter to House Speaker Kevin McCarthy (R-CA), cautioning him about the increasing risk of the United States defaulting on its debt unless Congress passes a bill to raise the nation’s debt limit. Even though the bill would also need President Joe Biden’s signature, Yellen has consistently directed these letters to McCarthy, despite him and House Republicans already passing a bill that raises the debt ceiling and prevents default.

Biden Not Concern About Debt Ceiling, Meeting Postponed 

Congress left the Capitol this week without reaching a compromise to prevent a disastrous debt ceiling default that could happen in as little as three weeks. President Joe Biden and House Speaker Kevin McCarthy (R-CA) were supposed to meet on Friday. NBC News reports that the meeting has been postponed until next week as top aides continue negotiating to make more progress before the major negotiators are called in. Democrats have insisted on a “clean” …

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 What Did McCarthy Promise The Never Kevins?

After 15 rounds of voting, the longest House speaker contest in 164 years, Kevin McCarthy has finally won the speakership of the House of Representatives. After a long, tumultuous, and occasionally violent journey, McCarthy became House speaker on Friday night, convening the 118th Congress.

Yellen Calls for the Nation’s Debt Limit to Be Raised

Treasury Secretary Janet L. Yellen urged Congress to raise the nation’s statutory debt limit to a level that would not be reached until after the 2024 election, thereby neutralizing the ability of Republicans to prevent the U.S. from paying its bills to gain Democratic concessions.