– Candy Woodall Hunter Biden’s art dealer tells House chairman to ask president’s son about paintingsĪ lawyer for Hunter Biden’s art dealer has told a House committee it should seek information about the sales of paintings from the president's son, not the broker. If the country takes in less than expected, the U.S. The CBO blames the uncertain date on upcoming revenue collections, especially how much the U.S. can legally borrow – the "extraordinary measures" the Treasury is taking to pay America's bills will run out between July and September, the CBO said in a new report Wednesday afternoon.īut there is no "X-date" in the report to mark the threshold for when the U.S.
If Congress doesn't raise the debt limit – the amount the U.S. Treasury will run out of money to pay government bills such as Social Security and military paychecks this summer, but there's no way to tell exactly what day yet, according to the nonpartisan Congressional Budget Office. – Joey Garrison CBO: Debt ceiling deadline could strike as soon as July “A blank check for more spending will destroy our country.” “Democrats' reckless spending is plunging our country into deeper debt & jeopardizing our economy,” McCarthy said. House Speaker Kevin McCarthy fired back in a tweet, saying Biden’s policies have led to $13 trillion in new spending and renewing his call to “negotiate a responsible debt limit increase that gets our fiscal house back in order.” will add more than $19 trillion to the national debt over the next decade, $3 trillion more than was projected last year. His remarks came after the Congressional Budget Office released an updated budget outlook that projects the U.S. “It would explode the deficit and leave the American taxpayer holding the bag,” he said. President Joe Biden on Wednesday accused Republicans of supporting tax cuts for the wealthy and other policies that would add $3 trillion to the national debt, pushing back on their demands for spending cuts as part of raising the debt ceiling.īiden, speaking at an electrical workers union hall in Lanham Md., singled out Republican efforts to extend expiring Trump-era tax cuts for high-income earners and corporations, which would add a projected $2.7 trillion in debt. Smart analysis delivered to your inbox: Sign up for the OnPolitics newsletter Biden, McCarthy spar over debt after CBO releases new projections Assault weapons ban: President Joe Biden renewed calls to ban assault weapons and high-capacity magazines following the deadly Michigan State University shooting.California Sen. Dianne Feinstein, the longest serving woman senator, announced she won't seek reelection in 2024, leaving the seat open in the deep blue state.This on the same day former GOP South Carolina Gov. Mike Pence in Iowa: The former vice president kicks off presidential activity in Iowa as the state gears up for its traditional first-in-the-nation GOP caucuses in early 2024.Matt Gaetz: The Justice Department has formally decided not to charge the Florida Republican in a sex-trafficking investigation, the lawmaker's lawyers said Wednesday. The GOP-led House Judiciary Committee has subpoenaed top executives of five tech companies to ask about interactions with the government and alleged suppression of conservatives.Here's what else is happening in politics: That doesn't leave much time to reach a deal and, as it turns out, there's not a lot of places Democrats and Republicans can agree to cut – at least in the short term. Treasury will run out of money to pay government bills such as Social Security and military paychecks by the summer unless lawmakers agree on a deal to raise the debt limit ceiling. The Congressional Budget Office Wednesday declared that the U.S.
Watch Video: What we know about flying objects shot down by US militaryĭebt ceiling default could come as soon as July.
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