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☆ What Republicans want in exchange for raising the debt limit
▼ + stars: | 2023-05-25 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +4 min

Speaker of the House Kevin McCarthy, R-Calif., talks with reporters about the debt ceiling negotiations in the U.S. Capitol on Tuesday, May 23, 2023. "The debt ceiling," he replied. A Democratic official said Republicans have already rejected at least two compromise offers from the White House. While their demands could change, below are the key concessions Republicans want from Democrats, in exchange for their vote to raise the debt ceiling. "I'm not going to accept any work requirements that's going to impact on medical health needs of people," Biden said earlier this month.

Persons: Kevin McCarthy, Patrick McHenry, Garret Graves, Joe Biden, I'm, Biden Organizations: U.S, Capitol, White, White House, Republican, Democratic, Republicans, Energy, House Republicans, Congressional, House, Assistance, SNAP Locations: WASHINGTON, North Carolina, Louisiana, United States, .

☆ Republicans question June 1 debt ceiling deadline as talks zero in on potential trade-offs
▼ + stars: | 2023-05-23 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +4 min

Andrew Caballero-Reynolds | AFP | Getty ImagesWASHINGTON — A significant group of House Republicans raised questions Tuesday about whether the Treasury Department's June 1 deadline to avoid a potential U.S. debt default was accurate. "We'd like to see more transparency on how they come to that date," House Majority Leader Rep. Steve Scalise said Tuesday at a news conference. "We're getting closer," McCarthy told reporters late Monday, adding that the "circle" of issues was becoming "smaller, smaller, smaller." A Republican negotiator, Rep. Patrick McHenry, N.C., told reporters that spending was still the biggest hurdle to an agreement. Rep. Garret Graves, R-La., left, and Rep. Patrick McHenry, R-N.C., speak to reporters about debt ceiling negotiations as they leave the House Republicans' caucus meeting at the Capitol Hill Club in Washington, May 23, 2023.

Persons: Kevin McCarthy, Joe Biden, Andrew Caballero, Reynolds, Steve Scalise, Scalise, Janet Yellen's, Nathan Howard, Biden, We're, McCarthy, Karine Jean, Pierre, Jean, Pierre said, Katherine Clark, Elise Stefanik, Patrick McHenry, Garret Graves, Bill Clark Organizations: White, AFP, Getty Images WASHINGTON, House Republicans, Treasury, Republican, Bloomberg, Getty, CNBC, US, Democratic, Courage for America, Capitol, Getty Images House Republicans, Rep, Republicans, Capitol Hill Club, CQ, Inc Locations: Washington ,, United States, California, Washington , DC, U.S, N.C, R, Washington

☆ Fresh round of debt ceiling talks kick off as US default worries grow
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +5 min

A failure to lift the debt ceiling would trigger a default that would shake financial markets and drive interest rates higher on everything from car payments to credit cards. Any deal to raise the $31.4 trillion debt limit must pass both chambers of Congress before Biden could sign it into law. A plan passed by the House last month would cut a wide swath of government spending by 8% next year. Biden has said he would consider spending cuts alongside tax adjustments but that Republicans' latest offer was "unacceptable." McCarthy told reporters debt ceiling talks have not included discussions about tax cuts passed under former President Donald Trump, a Republican.

☆ Congress could have as little as 10 days to solve the debt ceiling crisis before Americans might start losing federal benefits and retirement savings
▼ + stars: | 2023-05-22 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

If the US were to breach the debt ceiling, millions of Americans could lose jobs and retirement savings. A breach would also hit Americans in their wallets: A Joint Economic Committee analysis previously found that failure to lift the debt ceiling could cost workers $20,000 in retirement savings. "I think we can solve some of these problems if he understands what we're looking at," McCarthy told reporters on Sunday. Another option that's been gaining steam in Congress is invoking a clause in the 14th Amendment that would declare the debt ceiling unconstitutional, getting rid of the problem forever. But even with potential litigation, some Democratic lawmakers think Biden should do whatever it takes to ensure the US does not default on its debt.

☆ US economy on the brink as time runs low to avert debt default
▼ + stars: | 2023-05-22 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

After a weekend of acrimony between negotiators for House Republicans and the White House, Biden will meet House Speaker Kevin McCarthy Monday for critical talks on pulling the economy back from the precipice. Biden and McCarthy to meet MondayThe rhetoric eased a little, however, after Biden and McCarthy spoke as the president flew home on Air Force One. McCarthy already passed a bill raising the debt ceiling in exchange for a wish list of Republican demands. This is a balance of power that ought to drive both sides towards a compromise, but extremist elements in the House GOP could make that impossible. Like McCarthy, Biden also faces political pressure within his own party after some progressive Democrats expressed fears he would offer the speaker too much in any deal.

WASHINGTON, May 19 (Reuters) - A second meeting on Friday between White House and Republican congressional negotiators on raising the federal government's $31.4 trillion debt ceiling broke up with no progress cited by either side and no additional meeting set. Senior White House adviser Steve Ricchetti left the meeting room telling reporters that he was "not assessing" the talks. A meeting earlier on Friday ended abruptly with McCarthy telling reporters there had not been any "movement" from the White House toward Republican demands. 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. They agreed to two-way talks, with the White House represented by Shalanda Young, director of the Office of Management and Budget, and Ricchetti.

WASHINGTON, May 19 (Reuters) - A second meeting on Friday between White House and Republican congressional negotiators on raising the federal government's $31.4 trillion debt ceiling broke up with no progress cited by either side and no additional meeting set. "We had a very, very candid discussion talking about where we are, talking about where things need to be," Republican Representative Garret Graves told reporters following a brief meeting in the Capitol with White House officials. He echoed earlier remarks by House of Representatives Speaker Kevin McCarthy that progress needed to be made on changing the "trajectory" of U.S. government deficit spending. A second Republican negotiator, Representative Patrick McHenry, said McCarthy would be briefed on the status of the talks. Senior White House adviser Steve Ricchetti left the meeting room telling reporters that he was "not assessing" the talks.

A White House official confirmed the talks were resuming. "We've got to get movement from the White House and we don't have any movement yet," McCarthy told reporters during the pause in talks. 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. A White House official said a deal remained possible.

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.

☆ Republicans walk out of debt ceiling talks, say White House isn't being 'reasonable'
▼ + stars: | 2023-05-19 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +1 min

WASHINGTON — High-stakes talks over raising the debit limit abruptly came to a halt Friday on Capitol Hill, after Republican negotiators walked out of the room and blamed the White House for holding up discussions. Graves said he did not know if talks would resume this weekend. "There are real differences between the parties on budget issues and talks will be difficult," a White House spokesperson told NBC News after the talks broke up. "The President's team is working hard towards a reasonable bipartisan solution that can pass the House and the Senate." Financial markets dipped on the news, which came after a positive week of talks that appeared to signal a deal was close.

☆ A GOP lawmaker says debt ceiling negotiations are on 'pause' because of 'unreasonable' requests from the White House — even with a catastrophic default as soon as 2 weeks away
▼ + stars: | 2023-05-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +3 min

GOP Rep. Garret Graves told reporters that debt ceiling negotiations are on "pause." He said the White House is bringing "unreasonable" requests. Still, there's a major time crunch for Congress to reach a deal to raise the debt ceiling before a default. But it's unclear where the negotiations will go from here — when asked if talks will resume today, White House negotiators told reporters that they're "playing [it] by ear." It is past time for the White House to get serious.

CNN —Debt ceiling talks between the White House and House Speaker Kevin McCarthy’s office have hit a snag, and negotiators have put a pause on the talks, multiple sources tell CNN. Negotiators met briefly in the Capitol on Friday before breaking up, and as of right now, there are no more meetings scheduled for the day. McCarthy confirmed that talks have paused, saying there’s not enough “movement” from the White House and suggested that spending levels are part of the issue. “We’ve got to get movement by the White House. The White House is just – we can’t be spending more money next year.

☆ The federal government is rapidly running out of cash as debt ceiling talks hit a new impasse
▼ + stars: | 2023-05-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The federal government is running out of cash as debt ceiling talks hit a new impasse. The Treasury General Account was $68.3 billion on Wednesday, down from $140 billion on Friday. It's also a considerable drop from the end of April, when the federal government's cash balance was $316 billion. The Treasury General Account is used to pay for debt service on government bonds — preventing the US from defaulting — among the myriad other outlays like entitlements and federal employee salaries. Lawmakers remain at odds on lifting the debt ceiling.

LAKE CHARLES, La., May 18 (Reuters) - In Washington, Republican U.S. Representative Clay Higgins has been a vocal advocate for spending cuts. As a member of the hard-right Freedom Caucus, Higgins was an early advocate for dramatic spending cuts, many of which ended up in the House bill. He hopes the spending cuts backed by Higgins won't affect local efforts to provide affordable housing. When it comes to spending, Higgins has been a solid "no" in Washington. For some local residents, Higgins' push for spending cuts in the face of so much need remains incomprehensible.

☆ McCarthy says House could vote on debt ceiling deal as soon as next week
▼ + stars: | 2023-05-18 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +2 min

Speaker of the House Kevin McCarthy, R-Calif., conducts a news conference with house and senate Republicans on the "debt crisis," on the west plaza of the U.S. Capitol on Wednesday, May 17, 2023. WASHINGTON — House Speaker Kevin McCarthy said Thursday that he is optimistic that congressional negotiators could reach a deal to raise or suspend the debt ceiling in time to hold a House vote on it next week. This week, the White House dispatched two new negotiators to take the lead in the delicate talks, presidential counselor Steve Ricchetti and Office of Management and Budget director Shalanda Young. Despite the bitterly partisan divide in Congress over the debt limit, McCarthy nonetheless heaped praise on the White House team Thursday. Correction: McCarthy spoke about the debt ceiling deal Thursday.

☆ French Resistance Fighter Goes Public About Execution of German P.O.W.s
▼ + stars: | 2023-05-17 | by ( Constant Méheut | ) www.nytimes.com time to read: +1 min

Shortly after D-Day during World War II, French resistance fighters took 47 captured German soldiers to a small wooden area in southwest-central France. “We were ashamed,” the witness, Edmond Réveil, who is now 98 and was part of the resistance group, told the French newspaper La Vie Corrézienne. “We knew that we should not kill prisoners.”French historians have confirmed the general outlines of his story, but his version of events could not be independently verified. His public statements have sent shock waves through the Limousin, a rural area in central France that has long prided itself on its history of resistance during the war and paid a heavy price for it. German Nazi officers from the military arm of the SS, the Waffen-SS, slaughtered hundreds of civilians there in retaliation.

☆ How the debt ceiling showdown could play into China’s hands and weaken US global power
▼ + stars: | 2023-05-17 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

One way to raise the debt ceiling might be to build a coalition of Republicans and moderate Democrats to isolate the extremists in his own party. “I cannot in good conscience support a debt ceiling proposal that pushes people into poverty,” Fetterman said. The length of a debt ceiling raise could also be an issue. Many Democrats want a deal that pushes the politically perilous need to raise the debt ceiling past the next election. Potentially, both chambers could vote on a short-term extension to raise the debt ceiling to allow time for more negotiations.

But attendees said they made progress, including through an agreement to turn the multilateral debt limit negotiations into direct one-to-one talks between a close ally of House Speaker Kevin McCarthy and two White House aides, on Biden's behalf. The White House said Biden "directed staff to continue to meet daily on outstanding issues. It was "a good and productive meeting," said Senate Majority Leader Chuck Schumer, D-N.Y., who noted that it was "more cordial" than a previous meeting last week. The White House also said Tuesday that it would cancel the second leg of the president's upcoming international trip, given the delicate state of the debt ceiling negotiations. His return will set up a critical stretch in the efforts to avoid a first-ever default on U.S. debt and prevent major economic damage.

His main opponent is CHP leader Kemal Kılıçdaroğlu, who represents an election coalition of six opposition parties. For the first time, Turkey’s factious opposition has coalesced around a single candidate. When a vicious earthquake on February 6 laid waste to large parts of southeast Turkey, Erdogan’s battled political aftershocks. More than 1.8 million voters living abroad already cast their votes on April 17, Turkish newspaper Daily Sabah reported Wednesday, citing the country’s deputy foreign minister. The Supreme Election Council (YSK) chief Ahmet Yener said last month that at least 1 million voters in quake-stricken zones are expected not to vote this year amid displacement.

☆ Kenya doomsday cult death toll climbs to 201 - official
▼ + stars: | 2023-05-13 | by ( ) www.reuters.com time to read: +1 min

SHAKAHOLA FOREST, Kenya, May 13 (Reuters) - Searchers for survivors and victims of a doomsday cult in Kenya's Shakahola forest discovered 22 more bodies on Saturday, according to a regional governmental official. The discoveries bring the death toll of one of the country's worst tragedies to 201. She said one more suspect had also been arrested, bringing the total number of those detained over the deaths to 26. On Friday, 29 bodies were unearthed, including those of 12 children which were found in one grave. Reporting by Joseph Akwiri Writing by Elias Biryabarema Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Want to buy a cheap house in rural Japan? This millennial farmer offers his advice
▼ + stars: | 2023-05-12 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +6 min

Life on a farm is "very, very busy," says Lee Xian Jie, who harvests his own rice and tea. said Lee Xian Jie, who restored three buildings in Ryujin-mura, a village in Japan's Wakayama prefecture. On the same property is a 100-year-old building, which Lee Xian Jie converted into a guesthouse. Lee Xian JieAnother $37,000 was spent to turn the main house into a living space for himself and a functional cafe. While it will only open in June, Lee Xian Jie said he's already been getting some bookings.

☆ Australia's Allkem, Livent to merge into $10.6 bln lithium giant
▼ + stars: | 2023-05-10 | by ( Harish Sridharan | ) www.reuters.com time to read: +2 min

May 10 (Reuters) - Lithium producer Allkem Ltd (AKE.AX) has agreed to merge with U.S.-based Livent Corp (LTHM.N) to create one of the world's most valuable producers of the key raw materials used in electric-vehicle batteries. The all-stock deal will create a $10.6 billion entity, the fifth-largest in the world after Albemarle Corp (ALB.N), Sociedad Quimica y Minera de Chile S.A. (SQMA.SN), Ganfeng Lithium Group (002460.SZ) and Tianqi Lithium Corp (002466.SZ). ASX-listed Allkem produces lithium carbonate from its Sal de Vida facility in Argentina, which is near Livent's Hombre Mureto lithium project. Livent, based in Philadelphia, supplies lithium products to multiple U.S. automakers, including General Motors Co (GM.N), Tesla Inc (TSLA.O) and BMW (BMWG.DE). Under the deal, Allkem shareholders will get one share in the combined entity for each of their shares and the company will ultimately own 56% of the new firm.

☆ Kenya court denies bail for alleged death cult leader
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +2 min

MOMBASA, Kenya, May 10 (Reuters) - A Kenyan court on Wednesday extended by 30 days the detention of cult leader Paul Mackenzie, who authorities accuse of ordering followers to starve their children and themselves to death. The death toll has climbed to 133, and hundreds of people are still reported missing. Mackenzie, leader of the Good News International Church, has not yet been required to enter a plea after handing himself into police last month. A lawyer representing Mackenzie, George Kariuki, has said the self-styled pastor is cooperating with investigators. Wycliffe Makasembo, a lawyer for Mackenzie and his wife, who is also detained, said he would appeal against the decision.

☆ Russia's irregular commanders, like the Wagner boss, are trying to force a top general's hand and risking throwing operations into chaos, war experts say
▼ + stars: | 2023-05-09 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Irregular commanders, like Prigozhin, appear to be calling more of the shots in Ukraine, war experts say. Yevgeny Prigozhin, the group's founder, and his fighters have routinely criticized Russia's top military officials over their handling of Russia's faltering war in Ukraine. In threatening to do so, the two "likely effectively blackmailed" Russia's military command into giving resources to Wagner, the ISW said in a Monday assessment. Graves of Russian Wagner mercenary group fighters are seen in a cemetery near the village of Bakinskaya in Krasnodar region, Russia, on January 22, 2023. Meanwhile, Prigozhin marked the occasion by feuding with Russia's military leadership, attacking their ability to defend the country.

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