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☆ Biden slams Supreme Court affirmative action ruling, says it cannot be 'the last word'
▼ + stars: | 2023-06-29 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

WASHINGTON — President Joe Biden hammered the Supreme Court over its Thursday ruling striking down the use of affirmative action in college admissions, saying the decision "walked away from decades of precedent." "We cannot let this decision be the last word," Biden said in a White House address. Speaking on MSNBC's "Deadline: White House" later Thursday, Biden said the current Supreme Court has "done more to unravel basic rights and basic decisions than any court in recent history." The Supreme Court ruled the affirmative action policies of Harvard University and the University of North Carolina to be unconstitutional. In her dissenting opinion, Supreme Court Justice Ketanji Brown Jackson said the majority was "turning back the clock" on affirmative action.

Persons: Joe Biden, Biden, hasn't, John Roberts, Roberts, Ketanji Brown Jackson, Jackson Organizations: U.S, Harvard University, University of North, White, WASHINGTON Locations: U.S ., University of North Carolina, Washington

☆ ‘This Is Not a Normal Court’: Biden Slams Supreme Court Ruling on Affirmative Action
▼ + stars: | 2023-06-29 | by ( Michael D. Shear | ) www.nytimes.com time to read: +1 min

President Biden declared on Thursday that the Supreme Court “is not a normal court” shortly after the conservative majority ended nearly a half-century of affirmative action in college admissions. In brief remarks at the White House after the 6-to-3 ruling, with the court’s three liberal justices offering blistering dissents, Mr. Biden assailed the decision and said he continued to believe in the need for diversity. “Because the truth is, we all know it: Discrimination still exists in America,” Mr. Biden told reporters during his remarks in the Roosevelt Room. “Discrimination still exists in America. Discrimination still exists in America.

Persons: Biden, “, ” Mr, ” Organizations: White Locations: America, New York City

☆ Walgreens profit tumbles, slashes guidance amid significant drop in Covid vaccine demand
▼ + stars: | 2023-06-27 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

New York CNN —Walgreens Boots Alliance on Tuesday reported earnings that tumbled from the same time a year ago amid softening consumer spending and a pullback in demand for Covid vaccines. Its pharmacy sales increased 6.3% in the period versus a year ago, while comparable pharmacy sales increased 9.8%, boosted by higher prices of branded medication. But the volume of Covid vaccines administered in the quarter plummeted to 0.8 million, compared to 4.7 million a year ago. Outside of pharmacy products, Walgreens reported retail sales fell 1% and comparable sales decreased 0.2% in the quarter. Excluding tobacco, comparable retail sales increased 0.2%, led by purchases of grocery, household and beauty items.

Persons: Rosalind Brewer, Neil Saunders, ”, Saunders Organizations: New, New York CNN, Walgreens Boots Alliance, Walgreens, U.S . Healthcare, Roosevelt, Global Locations: New York, Chicago

☆ Biden administration details plans for $42 bln investment in US internet access
▼ + stars: | 2023-06-26 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

The $42 billion in federal funding under the Broadband Equity Access and Deployment Program is based on a newly released Federal Communications Commission coverage map that details gaps in access. Texas and California - the two most populous U.S. states - top the funding list at $3.1 billion and $1.9 billion, respectively. But other less populous states like Virginia, Alabama and Louisiana cracked the top 10 list for funding due to lack of broadband access. The administration estimates there are some 8.5 million locations in the U.S. that lack access to broadband connections. The lack of broadband access drew attention during COVID shutdowns that forced students into online schooling.

Persons: Joe Biden, Read, Joe Biden's, Jeff Zients, Zients, Franklin Roosevelt's, COVID, Biden, Anita Dunn, Mike Donilon, Jarrett Renshaw, Scott Malone, Chris Reese, Lisa Shumaker Organizations: Infrastructure Law, White, Broadband, Federal Communications, Congress, Verizon, Comcast, Charter Communications, Thomson Locations: Texas, California, U.S, Virginia , Alabama, Louisiana, America, Chicago

☆ Biden to detail plans for $42 billion investment in US internet access
▼ + stars: | 2023-06-26 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +3 min

Zients compared the broadband effort to President Franklin Roosevelt's efforts in 1936 to bring electricity to rural America. The administration estimates there are some 8.5 million locations in the U.S. that lack access to broadband connections. The lack of broadband access drew attention during COVID shutdowns that forced students into online schooling. The Biden administration will say how much of the $42 billion in funding each state will receive under the Broadband Equity Access and Deployment Program, based on a newly-released Federal Communications Commission coverage map that details access gaps. The advisers noted the economy has added more than 13 million jobs since Biden took office, including nearly 800,000 manufacturing jobs.

Persons: Joe Biden, Read, Jeff Zients, Zients, Franklin Roosevelt's, COVID, Biden, Anita Dunn, Mike Donilon, Jarrett Renshaw, Scott Malone, Chris Reese Organizations: Infrastructure Law, White, Congress, Verizon, Comcast, Charter Communications, Broadband, Federal Communications, Congressional, Thomson Locations: America, U.S, Chicago

☆ Biden Expresses Confidence on the Economy. Voters May Be Skeptical.
▼ + stars: | 2023-06-26 | by ( Michael D. Shear | ) www.nytimes.com time to read: +1 min

In their memo, Mr. Donilon and Ms. Dunn cited polling that shows Americans broadly support some of the president’s key economic policies. Independent polls show that large majorities of the country do not believe that the president’s economic policies have set the country in the right direction. In an NBC poll released on Sunday, 74 percent of Americans said the nation was on the wrong track. Previous polls have shown that much of the concern centers on the president’s economic policies. One Associated Press survey in May found that only 33 percent of adults approved of his handling of the economy.

Persons: Donilon, Dunn, Biden, Franklin D, Roosevelt Organizations: NBC, Associated Press, White

☆ Biden to announce $42 billion high-speed internet initiative
▼ + stars: | 2023-06-26 | by ( Emma Kinery | ) www.cnbc.com time to read: +2 min

US President Joe Biden boards Air Force One at San Francisco International Airport in San Francisco, as he travels back to the White House, June 21, 2023. WASHINGTON — President Joe Biden is kicking off a more than $42 billion plan to give every American household access to high-speed internet by 2030. White House officials compared the plan to Franklin D. Roosevelt's effort to bring electricity to rural America in the 1930s. "Put simply, high-speed internet is a necessity in today's society," said Mitch Landrieu, White House infrastructure coordinator. "President Biden and Vice President Harris are committed to leaving no community behind as we connect everyone in America to high-speed internet."

Persons: Joe Biden, Gina Raimondo, Franklin, Mitch Landrieu, Biden, Harris Organizations: Air Force, San Francisco International Airport, White House, WASHINGTON, Infrastructure Law, U.S . Department of Commerce, Broadband Equity, White Locations: San Francisco, America, Texas, House

☆ US combat ship to make rare port call in Vietnam amid South China Sea tensions
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +1 min

The visit of the USS Ronald Reagan is only the third for a U.S. aircraft carrier since the end of the Vietnam War. The USS Theodore Roosevelt stopped in Vietnam in 2020 to mark 25 years since the Vietnam War ended in 1975. This year Washington is seeking to upgrade its formal ties with Vietnam, amid Hanoi's frequent disputes with Beijing over boundaries in the South China Sea. China claims the waters almost in their entirety, including the exclusive economic zones of Vietnam and other countries in the region. On Wednesday, the Chinese aircraft carrier Shandong and a group of escorting vessels sailed south through the sensitive Taiwan Strait, Taiwan's defence ministry said.

Persons: Ronald Reagan, Theodore Roosevelt, Francesco Guarascio Organizations: U.S, aircraft, Thomson Locations: HANOI, Central Vietnam's, Danang, U.S, Beijing, South China, Vietnam, Washington, China, Shandong, Taiwan

☆ A Beautiful Evening of Music Emerged From a New York City Sewer
▼ + stars: | 2023-06-14 | by ( Dodai Stewart | ) www.nytimes.com time to read: +1 min

Larry Desgaines sat on a piece of cardboard atop a damp rock near the mouth of a large sewer drain in Queens on a recent Friday evening. In the water, which, improbably, did not stink of sewage, two men in a canoe sat very still. As the sun dipped behind Roosevelt Island, another man sitting by the entrance of the tunnel banged on a metal pipe with a stick. The canoe’s frontman, wearing a Tyrolean hat, yodeled: “Willkommen!” He drew out the final syllable, and his voice amplified and echoed in the tunnel. As the song ended, the canoe disappeared into the sewer, leaving only echoes behind.

Persons: Larry Desgaines, “, ”, Roosevelt Locations: Queens, New York City

☆ How Democrats Can Win Workers
▼ + stars: | 2023-06-13 | by ( David Leonhardt | ) www.nytimes.com time to read: +4 min

Today, I’ll be writing about what Democrats might do about the problem, focusing on a new YouGov poll, conducted as part of the Center for Working-Class Politics study. A key point is that even modest shifts in the working-class vote can decide elections. If President Biden wins 50 percent of the non-college vote next year, he will almost certainly be re-elected. But candidate messages that explicitly mentioned race were unpopular. Democrats who have won difficult recent elections, including both progressives and moderates, have often presented a blue-collar image.

Persons: I’ll, Biden, ”, Bhaskar Sunkara, Matthew Yglesias, Mark Kelly of Arizona, Marcy Kaptur, Jared Abbott, Harry Truman, Franklin Roosevelt Organizations: Center, Democratic, Jacobin, Voters, Ohio, Progress, Swing Locations: Chicago , Los Angeles , New York, Philadelphia

☆ Opinion: History is not on Donald Trump’s side
▼ + stars: | 2023-06-13 | by ( Opinion Gautham Rao | ) edition.cnn.com time to read: +5 min

Editor’s Note: Gautham Rao is associate professor of American and legal history at American University in Washington and editor-in-chief of Law and History Review. CNN —Here we are with another scandal involving former President Donald Trump. Over time, the professionalization of the government workforce would feature the rise of a civil service, the emergence of bureaucratic experts and the establishment of administrative law. The Presidential Records Act of 1978, passed in the wake of President Richard M. Nixon’s Watergate scandal, was another example of this evolving system. In 1974 Congress passed a law specifically to prevent Nixon from withholding records and followed it up a few years later with The Presidential Records Act, which explicitly designates presidential records as public records.

Persons: Gautham Rao, Read, Donald Trump, Trump’s, Trump, Jack Smith’s, Max Weber, Franklin Roosevelt’s, Richard M, Nixon, Donald J Organizations: American University, Law, American State, CNN, National Archives, American, Presidential, Presidential Records, Twitter Locations: Washington, United States, German

☆ Will the I-95 collapse in Philadelphia hurt the economy? Look at other cities for answers
▼ + stars: | 2023-06-12 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +5 min

New York CNN —A section of northbound I-95 in Philadelphia collapsed Sunday after a tanker truck caught fire underneath the highway. I-95 is an important artery for not only the East Coast, but for regional transportation and commuters in Philadelphia. Another analysis by the state’s Department of Employment and Economic Development and the transportation department found the economic loss was about $17 million in 2007 and $43 million in 2008. Morning commutesThe Philadelphia bridge collapse also brings up another question: How will commuters get to work? Advocates for public transport in Philadelphia look to Atlanta, when the Interstate-85 bridge collapsed in 2018 after a massive fire.

Persons: Tumar Alexander, ”, ” Alexander, Kristen Scudder, ” Scudder, Scudder, Scrudder, Transportation Pete Buttigieg, Buttigieg, “ I’ve, Shapiro Organizations: New, New York CNN, Delaware, Regional Planning Commission, City, Philadelphia Office, Emergency Management, New Jersey Turnpike, of Transportation Statistics, University of Minnesota, Minnesota Department of Transportation, state’s Department of Employment, Economic, Bureau, Transportation, Invest, Atlanta Regional Commission, Southeastern, Southeastern Pennsylvania Transportation Authority, “, Twitter, Federal Highway Administration, FHWA, Gov Locations: New York, Philadelphia, East Coast, City of Philadelphia, New Jersey, Memphis, Minneapolis, Minnesota, West Memphis , Arkansas, Atlanta, Southeastern Pennsylvania, Roosevelt, Northeast Philadelphia

☆ Ray Dalio shares career lessons, big mistakes, and key investing principles in a new MasterClass. Here are the 16 best quotes.
▼ + stars: | 2023-06-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +6 min

Ray Dalio reflects on his career and lays out his investing philosophy in a new MasterClass episode. Dalio is the billionaire founder of the world's largest hedge fund, Bridgewater Associates, and the author of "Principles" and "Principles for Dealing with the Changing World Order." Here are Dalio's 16 best quotes from his MasterClass episode, lightly edited for length and clarity:1. (Dalio was describing how much money an everyday investor should keep in the safest of their portfolios." "The way that you play the game is first to know what you know, and know what you don't know.

Persons: Ray Dalio, —, he's, Dalio, Nixon, Roosevelt, it's, we've, you've, they've Organizations: Bridgewater, Olympics, Navy, Service, Bridgewater Associates Locations: Mexico

☆ Walgreens unveils Chicago store with only two aisles and most products kept out of sight
▼ + stars: | 2023-06-09 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

New York CNN —Walgreens just opened a redesigned store in a downtown Chicago neighborhood where most of the merchandise is intentionally kept out of sight. It’s not designed to deter theft, Walgreens says. The new Walgreens store now has only two aisles for shoppers to peruse for their everyday needs, such as over-the-counter medication, bath and body care supplies, batteries, Band-aids, and grab-and-go snacks. Those hidden products – including color cosmetics, beer, wine and spirits, hair color products and gift cards – can only be accessed for purchase through a kiosk system, also set up in the store. Illinois governor J.B. Pritzker signed a bill that went into effect Jan. 1 that’s designed to crack down on retail crime by raising penalties on retail theft statewide.

Persons: Walgreens, Robb Karr, J.B, Pritzker, ”, Karr, “, John Hassard, Robson, Hassard, Lululemon, “ We’re Organizations: New, New York CNN, Walgreens, Roosevelt, What’s, CNN, Walmart, Target, Illinois Retail Merchants Association, Walgreens ., Robson Forensic, National Retail Federation Locations: New York, Chicago, America, Walgreens . Illinois, Atlanta, harm’s, San Francisco

☆ Analysis: Why Mike Pence is already struggling in the presidential race
▼ + stars: | 2023-06-08 | by ( Harry Enten | ) edition.cnn.com time to read: +5 min

This reflects history, which shows that while being vice president often correlates with success in future presidential ambitions, it is far from a guarantee. Think about recent vice presidents who have tried to upgrade their positions. That doesn’t seem like a particularly high success rate, though we should remember that many vice presidents (like Cheney) don’t run. About 55% of vice presidents who ran for their party’s nomination became the head of their party’s ticket. The last time it happened was 1940, when President Franklin Roosevelt crushed his vice president, John Nance Garner.

Persons: Joe Biden, Barack Obama’s, Mike Pence, Biden, Dick Cheney, Democrat Al Gore, Dan Quayle, Richard Nixon, Kamala Harris, Cheney, don’t, Pence, Donald Trump, Trump, White, Franklin Roosevelt, John Nance Garner, Quayle, George W, Bush, George H.W, George H.W . Bush, Obama, Trump’s, –, Biden didn’t Organizations: CNN, Democrat, Biden, GOP, House, Republican, Quinnipiac University, Trump, Fox Locations: George H.W .

☆ The History Behind Debates Around Affirmative Action - The New York Times
▼ + stars: | 2023-06-07 | by ( Randall Kennedy | ) www.nytimes.com time to read: +3 min

Johnson vetoed the act in part because the citizenship provision would immediately make citizens of native-born Black people while European-born immigrants had to wait several years to qualify for citizenship via naturalization (which was then open only to white people). In 1875, Congress enacted legislation that prohibited racial discrimination in the provision of public accommodations. Segregationist Southerners were not the only ones who railed against anti-discrimination laws on the grounds that they constituted illegitimate preferences for African Americans. In 1945, the New York City administrator Robert Moses inveighed against pioneering municipal anti-discrimination legislation in employment and college admissions. Displaying more anger at the distant prospect of racial quotas than the immediate reality of racial exclusions, Moses maintained that anti-discrimination measures would “mean the end of honest competition, and the death knell of selection and advancement on the basis of talent.”

Persons: Johnson, ” Johnson, disapprovingly, Franklin D, Roosevelt, Jamie Whitten, Robert Moses inveighed, Moses, ” Organizations: Civil, Employment, Commission, New Locations: Mississippi, New York City

☆ Opinion | Fareed Zakaria on Where Russia’s War in Ukraine Stands — and Much More
▼ + stars: | 2023-06-02 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +96 min

Obviously, the line is not perfect, but I think that’s a very sensible line. And I don’t think that’s all about absorption capability. But I don’t think it’s fair to say that the Russians have done everything they can. fareed zakaria[LAUGHS] And by the way, I think that’s some key to understanding the alliance is a personal one. I think India, Israel, and Poland — usually, in the 70 percent-plus say they like — have a favorable view of America.

Persons: ezra klein, it’s, Fareed Zakaria, Zakaria, “ Fareed Zakaria, fareed zakaria, Ezra, Putin, They’ve, there’s, fareed zakaria It’s, they’re, It’s, Fidel Castro, Sean Penn, haven’t, you’re, won’t, Biden, They’re, Washington, Winston Churchill, Merkel, wouldn’t, —, Nancy Gibbs, Khomeini, Macron, Ron DeSantis, YouGov, fareed zakaria I’m, that’s, DeSantis, Lindsey Grahams, Mitch McConnell, Xi Jinping, ezra klein Yes, Xi, Gorbachev, Zelensky, Trump, Obama, Bush, United States —, McCarthy’s, I’ve, they’d, doesn’t, didn’t, ezra klein They’re, fareed zakaria They’re, we’ve, Simpson, I’m, Janet Yellen, Colin Powell, unquote, That’s, Jonathan Haidt, We’ve, he’s, fareed zakaria That’s, they’ve, fareed zakaria Well, gee, TikTok, we’re, George Kennan, Mike Gallagher, klein, Nirupama Rao, Bob Kagan, can’t, — fareed zakaria, Lord Mountbatten, Gandhi, Franklin Roosevelt, Ho Chi Minh, fareed zakaria Right, narratively —, Modi, you’ve, China’s —, fareed zakaria Modi, India’s, Advani, Vajpayee, you’d, There’s, India, Joe Biden, fareed zakaria I’ve, Benedict Anderson’s “, Orville Schell, John Delury, Sunil Khilnani, ezra klein Fareed Zakaria Organizations: CNN, The Washington Post, Putin, Starbucks, Russia, Revolutionary Guard, NATO, Ukrainian, Communist, European Union, U.S, Republican Party’s, Republican Party, Republicans, ASEAN, Trump, Defense, United, U.S ., Democrats, Chinese Communist Party, State, Facebook, Google, Soviet Union, Huawei, Twitter, South China Seas, Foreign Affairs, Yale Law, International Criminal, South China, . Security, Trade Organization, Pax Americana, Americana, New York Fed, America, Republican, Fox, Beijing Locations: ezra klein Russia, Ukraine, Russia, America, Europe, China, India, Russian, United States, Relatedly, Japan, Turkey, Holland, South Korea, Singapore, Iran, Venezuela, Central America, Southeast Asia, Washington, Britain, ‘, U.S, United Europe, Germany, Soviet Union, Vietnam, Beijing, Trump, Asia, Iraq, Hainan, Montana, Republic, Soviet, weirdly, South, Taiwan, Pakistan, New Delhi, South Africa, Kuwait, Russia’s, Eden, Saudi Arabia, Indonesia, Kashmir, it’s, Cuba, Pax, American, Mumbai, Shanghai, Israel, Poland, Indian, Nigeria

☆ At the height of the Cold War, the US Navy used a historic round-the-world operation to show off its new nuclear force
▼ + stars: | 2023-06-01 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +8 min

On July 31, 1964, three US Navy ships set off on a mission to sail around the world. Construction began on USS Long Beach in 1957 and it entered service in 1961, becoming the world's first nuclear-powered surface warship. USS Bainbridge, front, and USS Long Beach sail behind USS Enterprise in 1964. USS Bainbridge sails behind USS Enterprise during Operation Sea Orbit in August 1964. Nuclear navyNuclear-powered guided-missile cruisers USS California, USS South Carolina, USS Virginia, USS Texas, USS Mississippi, and USS Arkansas in February 1981.

Persons: —, Bainbridge —, Bob Haswell, US Navy Long, SCANFAR, Bainbridge, Theodore Roosevelt's Great, Bernard Strean, USS Bainbridge, PH1 Anthony A, Alleyne Afterward, Strean, Nimitz, Admiral Nakhimov, Pyotr Velikiy Organizations: US Navy, Service, USS Enterprise, US, Daily, Nautilus, Navy, RIM, Long, Westinghouse, Enterprise, Fleet, Nuclear, USS Locations: Mallorca, Long, —, Bainbridge, Karachi, India, Indonesia, Australia, Fremantle, Long Beach, Melbourne, Sydney, USS, Wellington, Cape Horn, Rio de Janeiro, Charleston, Norfolk, Perth, San Juan, California, USS South Carolina, USS Virginia, USS Texas, USS Mississippi, USS Arkansas, Soviet, Kirov

☆ Explainer: What is the U.S. debt ceiling?
▼ + stars: | 2023-05-29 | by ( Jason Lange | ) www.reuters.com time to read: +4 min

WHEN WAS THE DEBT CEILING REACHED? IS THE DEBT CEILING GOOD FOR ANYTHING? Few counties 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. Others argue the debt ceiling itself violates the U.S. Constitution. In a 2011 showdown, House Republicans successfully used the debt ceiling to extract sharp limits on discretionary spending from Democratic President Barack Obama.

☆ CNBC Daily Open: After the debt ceiling, inflation
▼ + stars: | 2023-05-29 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In fact, going by the PCE report, consumers spent more on goods and services in April than in March. This suggests inflation isn't high and moderating — as the consumer price index, another inflation reading, stated — but is high and increasing. In other words, the debt ceiling fracas might soon be over, but that means we're returning to a world of sticky inflation, high interest rates and an ever-impending recession.

☆ What's in the debt ceiling deal struck by Biden and McCarthy?
▼ + stars: | 2023-05-29 | by ( ) www.cnbc.com time to read: +4 min

U.S. President Joe Biden delivers remarks on the bipartisan budget agreement in the Roosevelt Room of the White House on May 28, 2023. A cap on discretionary spendingThe deal would suspend the $31.4 trillion debt ceiling until Jan. 1, 2025, allowing the U.S. government to pay its bills. Increased defense spendingThe deal would boost total defense spending to $886 billion, in line with Biden's 2024 budget spending proposal. Covid ClawbackBiden and McCarthy agreed to claw back much of the unused Covid relief funds as part of the budget deal. White House officials said some funds would be retained, including items related to vaccine funding, housing assistance and support for Native Americans.

☆ Get ready to see millions of Americans lose their jobs if Congress doesn't raise the debt ceiling in the next few days
▼ + stars: | 2023-05-29 | by ( Madison Hoff | Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

The US could default on its debt as soon as June 5 if the debt ceiling isn't raised by then. That would translate to "7.8 million jobs lost from peak to trough," Yaros said. Other industries would see over half a million jobs lost in this scenario, including construction. "It's something closer to the 2001 recession that we had after the dot-com bubble, and you get about 1.5 million jobs lost from peak to trough," Yaros said. And 1.5 million jobs lost — that's still a huge human toll that was unnecessarily incurred."

☆ Biden and McCarthy lean on holdouts in both parties to pass debt ceiling deal
▼ + stars: | 2023-05-29 | by ( Kevin Liptak | ) edition.cnn.com time to read: +5 min

The bill caps non-defense spending, temporarily expands work requirements for some food stamp recipients and claws back some Covid-19 relief funds. Speaking from the White House on Sunday, Biden hailed the agreement as critical to preventing economic disaster. But like Biden, McCarthy acknowledged the agreement required concessions from both sides. Dusty Johnson said on “State of the Union.”Passing the bill through the House will not be the final step. On Sunday, a handful of powerful Senate Republicans had raised concerns about the deal’s defense spending during a Senate GOP conference call, a source on the call said.

☆ CNBC Daily Open: First the debt ceiling, then inflation
▼ + stars: | 2023-05-29 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

☆ Why some Democrats think Biden shouldn't worry about legal challenges that would come from getting rid of the debt ceiling forever
▼ + stars: | 2023-05-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

A US default could be days away, and Congress still doesn't have a debt ceiling deal. Some Democrats think Biden should use the 14th Amendment to address the crisis. On Monday evening, McCarthy and Biden met once again to attempt to reach an agreement on raising the debt ceiling and avoiding an unprecedented default. Experts and lawmakers have said that this clause makes a default, and therefore the debt ceiling, unconstitutional, getting rid of the issue forever. Anna Moneymaker/Getty ImagesWhy Biden shouldn't worry about legal challengesNo president has ever invoked the 14th Amendment to address the debt ceiling.

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