Smart analysis delivered to your inbox: Sign up for the OnPolitics newsletter Biden, McCarthy closer to a deal but still not there Yellen urged Congress to take action, saying a default would "cause severe hardship to American families, harm our global leadership position, and raise questions about our ability to defend our national security interests." ![]() The rating agency Fitch on Wednesday put the country's "AAA" credit rating on a negative watch ahead of possible inaction by Congress to raise the debt ceiling. She said the government's balance would be inadequate to satisfy an estimated $92 billion of payments and transfers, including a scheduled investment in the Social Security and Medicare trust funds of about $36 billion.Īs a result of the debt-ceiling standoff, Yellen said the Treasury has already seen borrowing costs increase substantially for securities maturing in early June. ![]() Yellen said the Treasury is set to make more than $130 billion of scheduled payments in the first two days of June including payments to veterans and Social Security and Medicare recipients, leaving the department with "an extremely low level of resources." "It's very close and I'm optimistic," Biden said. But they still have disagreements on expanded work requirements for welfare programs and expedited permitting for oil and gas projects.īiden, before departing the White House Friday evening for the Camp David presidential retreat, told reporters "things are looking good" and he hopes to have "some clear evidence tonight before the clock strikes 12" that a deal is finalized. The two sides are nearing a new deal to raise the debt ceiling through 2024 and fulfill Republican demands for spending cuts. The more precise projection, outlined in a letter to House Speaker Kevin McCarthy, gives President Joe Biden and McCarthy additional time to strike a deal to raise the debt ceiling and avert a default as they head into Memorial Day weekend. is on track to default in early June and "as early as June 1," which had White House and Republican negotiators targeting the first of the month for a deal. Treasury Secretary Janet Yellen Friday provided an updated timeline for when the government could run out of money, saying her projection is now by June 5 based on the most recent data if Congress does not raise or suspend the debt ceiling. has an extra four days to avoid defaulting on its debt. Maybe - Maybe is a great word to use when you don't want to get yourself stuck into a commitment.įor example, if you have the letters T W L or O C T W L in your rack, you could form words such as CLOWN, CLOTH, COLTS, OWLET, SCOWL, or TOWEL provided you have the other letters available for use.WASHINGTON − The U.S. Lunch - Whether you decide to eat or not, you're likely given a lunch break at work. ![]() Their - If those are their belongings, they certainly don't belong to you.Įvery - Like the word all, every encompasses the totality of what you're discussing.įaith - Faith means something different to everyone, but it's certainly meant to be a positive word. Which - Choices can be narrowed down depending on which option you choose. Other - Other makes a distinction between objects or people.Ībout - When talking about approximate size, you might say that the fish that got away was about two feet long. ![]() Just thinking about some words that you use daily in the course of life can grant you some good options.
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