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[1/3] U.S. President Joe Biden hosts debt limit talks with U.S. House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, U.S., May 22, 2023. REUTERS/Leah MillisWASHINGTON, May 27 (Reuters) - U.S. President Joe Biden and House Republican Speaker Kevin McCarthy on Saturday reached an agreement in principle to lift the debt ceiling that would trim some U.S. federal spending. Here's what we know so far:A CAP ON DISCRETIONARY SPENDINGThe deal would suspend the $31.4 trillion debt ceiling until January of 2025, allowing the U.S. government to pay its bills. In exchange, non-defense discretionary spending would be capped at current year levels in 2024 and increased by only 1% in 2025. INCREASED DEFENSE SPENDINGThe deal is expected to boost defense spending to around $885 billion, in line with Biden's 2024 budget spending proposal.

☆ Debt ceiling deal keeps non-defense spending roughly flat until fiscal 2024
▼ + stars: | 2023-05-28 | by ( ) www.reuters.com time to read: 1 min

May 27 (Reuters) - A deal reached to raise the U.S. federal government's $31.4 trillion debt ceiling keeps non-defense spending roughly flat for current fiscal year and 2024, a source familiar with the negotiations said on Saturday,There are no budget caps after 2025 in the U.S. debt deal, the source added. Reporting by Steve Holland; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

However just ahead of the expected call between Biden and McCarthy, Republican deal negotiator Patrick McHenry told reporters "major disagreement" remained between his party and Biden's Democrats. That's what we've offered with our approach to raising the debt ceiling, with work requirements for able bodied folks to get back in the workforce. The two sides have tentatively reached an agreement that would raise the debt ceiling by enough to cover the country's borrowing needs through the November 2024 presidential election. Republican Representative Dan Bishop reacted with anger to the idea of extending the debt ceiling through the next presidential election. A failure by Congress to raise its self-imposed debt ceiling before June 5 could trigger a default that would shake financial markets and send the United States into a deep recession.

"Things are looking good," Biden told reporters. "I'm hopeful," said McHenry, one of House of Representatives Speaker Kevin McCarthy's lead negotiators with the White House. Negotiators are discussing a deal that would lift the limit for two years, but remain at odds over whether to stiffen work requirements for some anti-poverty programs. WORK REQUIREMENTS IN DISPUTEThe safety-net programs remained a sticking point. Biden in particular has resisted the work requirements for Medicaid, which covered 85 million Americans as of January.

☆ Hiroshima G7 marks costs of war and welcomes Ukraine's Zelenskiy
▼ + stars: | 2023-05-20 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +5 min

[1/5] Ukraine's President Volodymyr Zelenskiy and French President Emmanuel Macron shake hands during the G7 leaders' summit in Hiroshima, Japan May 20, 2023. Zelenskiy will receive a hero's welcome during the closing day of the G7 summit hosted in Hiroshima, Japan, where leaders debated how to respond to a conflict that many expect only to escalate after nearly 15 months of fighting. On Sunday, Japan and South Korea, two of China's wealthiest neighbours, will highlight their improved ties with a joint meeting. But Zelenskiy has pushed the countries to go further on both economic and military measures. "Important meetings with partners and friends of Ukraine," Zelenskiy said on Twitter as he arrived in Hiroshima.

WASHINGTON, May 19 (Reuters) - U.S. House Republicans and President Joe Biden's Democratic administration on Friday paused talks on raising the federal government's $31.4 trillion debt ceiling, rattling financial markets as the deadline to avoid default ticked closer. Talks at the Capitol broke up around midday, and there was no immediate word on when they would resume. A White House official said: "There are real differences between the parties on budget issues and talks will be difficult. Biden and McCarthy spent most of the year in an impasse with the White House insisting on a "clean" increase in the debt ceiling without conditions. Young and Ricchetti told reporters they were going to play it "by ear" as they departed the negotiating sessions, according to reporters for NBC News and ABC News.

WASHINGTON, May 18 (Reuters) - Vice President Kamala Harris and top White House economic adviser Lael Brainard said on Thursday that a default on the U.S. debt of $31.4 trillion would throw the American economy into a recession. In a conference call for Democratic activists, Harris and Brainard urged them to contact lawmakers to express opposition to a debt default that could be less than two weeks away. "A debt default could trigger a recession," she said. Negotiators for the White House and congressional Republicans met again on Capitol Hill to discuss their search for common ground on lifting the $31.4 trillion debt ceiling, and plan to meet again on Friday, a White House official said. Brainard said the administration's goal, in its talks with House Speaker Kevin McCarthy's team, is to work toward a reasonable, bipartisan budget agreement.

☆ Biden campaign memo: Many paths available on road to 2024 victory
▼ + stars: | 2023-05-18 | by ( Steve Holland | ) www.reuters.com time to read: +2 min

Despite polls showing tepid support for the 80-year-old president who would be 86 by the end of a second term, the Biden campaign saw reason for optimism in 2024. The president will seek to repeat 2020 victories in two hotly contested states, Arizona and Georgia, Biden campaign manager Julie Rodriguez said in a memo released to news media. The Republican campaign, on the other hand, is gathering steam with Trump leading a crowded field. Rodriguez said the Biden campaign will make early investments in closely fought states like Michigan, Pennsylvania and Wisconsin as well as in Nevada and New Hampshire. She said the campaign will make major ad buys in key battleground including Arizona, Georgia, Michigan, Nevada, Pennsylvania, Wisconsin, Florida, and North Carolina.

☆ Factbox: Biden, McCarthy debt ceiling deal - what's in, what's out
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +3 min

PERMITTING CHANGESA compromise is possible on reforming the process for energy permits and White House officials say it is being actively discussed. The White House has called on Congress to pass permitting legislation that would help speed up clean energy and fossil fuel projects. The White House has for the most part ruled out Republican spending cuts. But Republicans are insistent that any debt ceiling deal will have to including spending cuts, and negotiations continue on this front. The White House has countered with a proposal for capping spending for two years.

Afterward, he was to have been the first sitting U.S. president to visit Papua New Guinea. In Sydney, Biden had planned to attend a meeting of the four so-called Quad nations - the United States, Japan, Australia and India. White House spokesperson John Kirby said Biden would be able to meet Albanese and Indian Prime Minister Narendra Modi while in Hiroshima. Albanese said in a statement that Biden had apologized for not being able to visit Australia and that they would work to reschedule his visit at the earliest opportunity. “I'm sure the White House will find ways to make this up to partners in the short term.

☆ Biden may skip Australia Quad meet as debt ceiling default nears, White House says
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 16 (Reuters) - President Joe Biden may skip a visit to Australia on an upcoming Asia trip due to the unfolding debate in Washington over the U.S. debt ceiling, the White House said on Tuesday. John Kirby, the White House national security spokesperson, said Biden would depart for Japan on Wednesday as scheduled but a subsequent stop in Australia is being reevaluated. Afterwards, he is to make a brief, historic stop in Papua New Guinea, then travel to Australia for a meeting of the Japan, Australia, India, U.S. grouping known as the Quad countries. The Treasury Department has estimated that the United States will go into a crippling default as early as June 1 if Congress does not lift the debt ceiling. Reporting by Nandita Bose and Steve Holland Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Biden, McCarthy debt ceiling meeting planned for Tuesday afternoon
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, May 15 (Reuters) - A debt limit meeting between U.S. President Joe Biden and top lawmakers including Republican House of Representatives Speaker Kevin McCarthy has been scheduled for 3 p.m. ET (1900 GMT) on Tuesday, a senior administration official said. The meeting was previously scheduled for last Friday, but was postponed. Aides from both sides have been discussing ways to limit federal spending, as talks on raising the government's $31.4 trillion debt ceiling to avoid a catastrophic default creep forward. Reporting by Steve Holland in Washington; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ US sees more indication of Russia, Iran defense cooperation
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 15 (Reuters) - The United States is seeing more indications that Russia and Iran are expanding an unprecedented defense partnership that will help Moscow prolong its war in Ukraine as well as pose a threat to Iran's neighbors, the White House said on Monday. As part of the cooperation, Iran is providing Russia with one-way attack drones, including more than 400 since August, national security adviser John Kirby said at a news briefing. "This is about a burgeoning defense relationship" that allows Russia to kill more people in Ukraine and also enables Iran to stock up on its military hardware and pose a greater threat to its neighbors, Kirby told reporters. Drones are the primary military help Iran is providing to Russia, which is seeking to acquire advanced level types, he said. The Unites States will be announcing additional designations targeting increased military cooperation between Russia and Iran, Kirby added.

☆ Biden, McCarthy divided over debt ceiling but talks continue
▼ + stars: | 2023-05-10 | by ( Steve Holland | ) www.reuters.com time to read: +5 min

Biden, McCarthy and the three other top congressional leaders were set to meet again on Friday. And he did not rule out eventually invoking the 14th amendment to the U.S. Constitution, an untested approach that would seek to declare the debt limit unconstitutional. U.S. President Joe Biden hosts debt limit talks with House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, May 9, 2023. Biden would agree to a separate discussion on the budget but not tied to the debt ceiling, the White House said. Stalemate in Washington over raising the U.S. debt limit raises the risk of fresh turmoil for markets.

☆ Biden, McCarthy divided over debt ceiling but still talking
▼ + stars: | 2023-05-09 | by ( Steve Holland | ) www.reuters.com time to read: +6 min

Biden called the meeting “productive” and reported that McCarthy said during the meeting that the U.S. would not default on its debt. U.S. President Joe Biden hosts debt limit talks with House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, May 9, 2023. Biden would agree to a separate discussion on the budget but not tied to the debt ceiling, the White House said. Prices for short-term Treasury bills fell on Tuesday as investors sold off debt that could come due around the time the U.S. debt limit could be hit. Stalemate in Washington over raising the U.S. debt limit raises the risk of fresh turmoil for markets.

Biden, McCarthy and the other participants were expected to offer their own version of the meeting later on Tuesday. Past debt ceiling fights have typically ended with a hastily arranged agreement in the final hours of negotiations, thus avoiding a default. U.S. President Joe Biden hosts debt limit talks with House Speaker Kevin McCarthy (R-CA) in the Oval Office at the White House in Washington, May 9, 2023. Biden would agree to a separate discussion on the budget but not tied to the debt ceiling, the White House said. Stalemate in Washington over raising the U.S. debt limit raises the risk of fresh turmoil for markets.

Stalemate in Washington over raising the U.S. debt limit raises the risk of fresh turmoil for markets. Past debt ceiling fights have typically ended with a hastily arranged agreement in the final hours of negotiations, thus avoiding a default. "No," McCarthy said when asked by reporters if he would agree to align the debt ceiling with the budget process should Biden propose such an idea. Biden would agree to a separate discussion on the budget but not tied to the debt ceiling, the White House said. White House staff and aides to the congressional leaders quietly met on Friday to begin talking about the debt limit.

☆ Biden, McCarthy start U.S. debt ceiling talks as clock ticks to default
▼ + stars: | 2023-05-09 | by ( Steve Holland | ) www.reuters.com time to read: +4 min

Stalemate in Washington over raising the U.S. debt limit raises the risk of fresh turmoil for markets. Past debt ceiling fights have typically ended with a hastily arranged agreement in the final hours of negotiations, thus avoiding a default. McCarthy, whose party holds the House by only a slim majority, wants to tie a vote on the debt ceiling to broad spending cuts the White House considers draconian. Biden would agree to a separate discussion on the budget but not tied to the debt ceiling, the White House said. Few countries in the world have debt ceiling laws and Washington's periodic lifting of the borrowing limit merely allows it to pay for spending Congress has already authorized.

☆ Biden, McCarthy start debt ceiling talks as clock ticks to default
▼ + stars: | 2023-05-09 | by ( Steve Holland | ) www.reuters.com time to read: +4 min

Stalemate in Washington over raising the U.S. debt limit raises the risk of fresh turmoil for markets. Past debt ceiling fights have typically ended with a hastily arranged agreement in the final hours of negotiations, thus avoiding a default. McCarthy, whose party holds the House by only a slim majority, wants to tie a vote on the debt ceiling to broad spending cuts that the White House considers draconian. Biden would agree to a separate discussion on the budget but not tied to the debt ceiling, the White House said. Few countries in the world have debt ceiling laws and Washington's periodic lifting of the borrowing limit merely allows it to pay for spending Congress has already authorized.

☆ Biden, Mexican president discuss border security before Title 42 end
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 9 (Reuters) - U.S. President Joe Biden and Mexican President Andres Manuel Lopez Obrador on Tuesday discussed border security measures as they prepare for a potential migrant wave when a key U.S. border policy ends this week, the White House said. The Biden administration and Texas state authorities are sending reinforcements to the U.S.-Mexico border to prepare for a possible increase in immigration when COVID-19 restrictions known as Title 42 are end on Thursday. In a phone call on Tuesday, Biden and Lopez Obrador "discussed continued close coordination between border authorities and strong enforcement measures," the White House said in a statement. Lopez Obrador said on Twitter they had discussed their commitment to work together on migration, as well as drugs and arms trafficking. They also discussed "cooperation in caring for the continent's poorest," Lopez Obrador added.

☆ U.S. military aid for Ukraine includes air-launched rockets
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 3 (Reuters) - The United States said Wednesday it would send a new military aid package for Ukraine worth $300 million, including for the first time the Hydra-70 short-range. The security assistance package would be the 37th approved by the United States for Ukraine since Russian invaded its neighbor in February 2022, for a total of $35.7 billion. "The United States and our allies and partners will stand united with Ukraine, for as long as it takes," U.S. Secretary of State Antony Blinken said in a statement announcing the aid package. The rockets, munitions and 155mm howitzer cannons included in the package would help Ukraine weaken Russian ground positions for advancing Ukrainian ground forces as Kyiv plans a spring offensive. The rockets are typically launched from pods attached to aircraft to provide support for ground troops.

WASHINGTON, May 2 (Reuters) - The United States plans to announce as soon as Wednesday a new $300 million military aid package for Ukraine that will for the first time include a short-range air-launched rocket, two U.S. officials said. The Hydra 70 is an air-launched unguided rocket made by General Dynamics (GD.N). The rockets could help Ukraine weaken Russian ground positions and provide advancing Ukrainian ground forces with air support as Kyiv plans a spring offensive. The security assistance package would be the 37th approved by the United States for Ukraine since the Russian invasion in February 2022, for a total of nearly $36 billion. However, members of both parties insist they support continued aid for Ukraine including top Republicans House Speaker Kevin McCarthy and Mitch McConnell, the top Republican in the Senate.

WASHINGTON, May 1 (Reuters) - U.S. President Joe Biden on Monday urged House of Representatives Speaker Kevin McCarthy to take the potential for an unprecedented U.S. debt default off the table, warning that it would result in skyrocketing credit card and mortgage rates. We have never, ever failed to meet the debt," Biden told a small business event at the White House. He said the threat of default by some Republicans in Congress was "totally irresponsible" and that it was essential to take that threat "off the table." "It would lead to higher interest rates, higher credit card rates, mortgage rates would skyrocket," Biden said. A 2011 standoff led to a downgrade of the government's credit rating, which pushed borrowing costs higher and hammered investments.

☆ Biden urges Republicans take debt default off table
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, May 1 (Reuters) - U.S. President Joe Biden on Monday urged House of Representatives Speaker Kevin McCarthy to take the potential for a debt default off the table, saying the United States is "not a deadbeat nation." "The most immediate thing we can do is ensure continued reliance of our economy and the financial system. The most important thing we have to do in that regard is to make sure the threat by the speaker of the House to default on the national debt is off the table," Biden told a small business event. Reporting by Jeff Mason and Steve Holland; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

WASHINGTON, May 1 (Reuters) - The White House on Monday estimated that Russia's military has suffered 100,000 casualties in the last five months in fighting against Ukraine in the Bakhmut region. "Russia's attempt at an offensive in the Donbas largely through Bakhmut has failed," Kirby said. He said the Russians have made some incremental gains in Bakhmut but that this has come at a "terrible, terrible cost" and that Ukraine's defenses in the region remain strong. "It's really stunning, these numbers," Kirby added, saying the total is three times the number of American casualties in the Guadalcanal campaign in World War Two. Kirby said another U.S. weapons package for Ukraine would be announced soon.

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