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☆ Biden to starkly contrast his economic plan with GOP 'MAGAnomics' as shutdown looms
▼ + stars: | 2023-09-14 | by ( Emma Kinery | ) www.cnbc.com time to read: +3 min

U.S. President Joe Biden speaks about the August U.S. jobs and employment report numbers in the Rose Garden of the White House in Washington, September 1, 2023. White House Press Secretary Karine Jean-Pierre on Wednesday criticized congressional Republicans for not reaching an agreement. House Republicans in the spring refused to lift the debt ceiling without cost cutting concessions. "House Republicans have understandably been reluctant to tout the MAGAnomics budget — but the White House is going to spend much of this fall doing it for them," Dunn wrote. "[Biden] will use today's speech to hold House Republicans accountable for the full MAGAnomics agenda and contrast MAGAnomics with his economic vision."

Persons: Joe Biden, Karine Jean, Pierre, Jean, Pierre said, Biden, Kevin McCarthy, We've, Anita Dunn, McCarthy, Dunn Organizations: White, WASHINGTON, Democratic, Congress, House Press, Republicans, Caucus, Republican, Social Security Locations: Rose, Washington

☆ UN Rights Expert Urges US to Go Further With Sanctions Against Myanmar Junta
▼ + stars: | 2023-09-13 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

By David BrunnstromWASHINGTON (Reuters) - The U.N. human rights expert for Myanmar on Wednesday called on the United States to further tighten sanctions on the country's military rulers to include their main revenue source, the state oil and gas enterprise. U.N. Special Rapporteur Tom Andrews, a former member of the U.S. Congress, also said it was vital for Washington to at least maintain levels of humanitarian support for victims of the junta inside and outside Myanmar. Andrews praised Washington for imposing sanctions on the Myanmar Foreign Trade Bank and Myanma Investment and Commercial Bank in June, but said more needed to be done. I urge the U.S. to join the European Union and immediately impose sanctions on the junta's single largest source of revenue, the Myanma Oil and Gas Enterprise," Andrews said. Myanmar military officials have played down the impact of sanctions and say their air strikes target insurgents.

Persons: David Brunnstrom WASHINGTON, Tom Andrews, Andrews, Congress's Tom Lantos, Washington, David Brunnstrom, Christopher Cushing Organizations: Myanmar, U.S . Congress, Myanmar Foreign Trade Bank, Myanma Investment, Commercial Bank, European Union, Gas Enterprise, United Locations: United States, Washington, Myanmar, U.S, Bangladesh, Russia, China

☆ UN rights expert urges US to go further with sanctions against Myanmar junta
▼ + stars: | 2023-09-13 | by ( David Brunnstrom | ) www.reuters.com time to read: +2 min

REUTERS/Ajeng Dinar Ulfiana/Pool/File Photo Acquire Licensing RightsWASHINGTON, Sept 13 (Reuters) - The U.N. human rights expert for Myanmar on Wednesday called on the United States to further tighten sanctions on the country's military rulers to include their main revenue source, the state oil and gas enterprise. Andrews praised Washington for imposing sanctions on the Myanmar Foreign Trade Bank and Myanma Investment and Commercial Bank in June, but said more needed to be done. I urge the U.S. to join the European Union and immediately impose sanctions on the junta's single largest source of revenue, the Myanma Oil and Gas Enterprise," Andrews said. In January, the United States targeted the managing director and deputy managing director of the Myanma Oil and Gas Enterprise with sanctions, but has yet to go further against the firm, despite the urgings of rights groups and dissidents. Myanmar military officials have played down the impact of sanctions and say their air strikes target insurgents.

Persons: Tom Andrews, Andrews, Congress's Tom Lantos, Washington, David Brunnstrom, Christopher Cushing Organizations: Association of Southeast Asian Nations, REUTERS, Rights, Myanmar, U.S . Congress, Myanmar Foreign Trade Bank, Myanma Investment, Commercial Bank, European Union, Gas Enterprise, United, Thomson Locations: Myanmar, Jakarta, Indonesia, United States, Washington, U.S, Bangladesh, Russia, China

☆ Student-loan borrowers' biggest defender in the government is in jeopardy
▼ + stars: | 2023-09-09 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

The ruling could have significant implications for student-loan borrowers — and consumers nationwide. As federal borrowers have been gearing up for the return to loan repayment in October, the agency cracked down on companies that it accused of illegally charging borrowers for normally free debt-relief services. The Supreme Court is hearing oral arguments on the case on October 3. The CFPB's enforcement actions against this type of illegal conduct are important to protecting borrowers' financial security and obtaining their money back." Now consumers will have to wait and see how the Supreme Court views a top federal consumer watchdog's constitutionality.

Persons: Sen, Elizabeth Warren of Massachusetts, Shahid Naeem, Naeem, Dodd, Frank Wall, Bill Clark, Devin Watkins, they're, beholden Organizations: Service, Supreme, Financial, Community Financial Services Association of America Ltd, Consumer Financial, Federal Reserve, Fifth Circuit, Trump, Fifth, Financial Services Association of America, American Economic Liberties, Congress, Frank Wall Street Reform, Consumer, Federal Deposit Insurance Corp, Inc, Getty, Competitive Enterprise Institute, American Association of, Social Security Locations: Wall, Silicon, Washington , DC

☆ McConnell's freeze-ups not stroke or seizure disorder -doctor
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

Acquire Licensing Rights Read moreWASHINGTON, Sept 5 (Reuters) - U.S. Senate Republican leader Mitch McConnell's two episodes of freezing up while speaking in public appear not to be the result of a stroke or seizure disorder, Congress's doctor said in a statement on Tuesday that did not explain what caused the incidents. "There is no evidence that you have a seizure disorder or that you experienced a stroke, TIA or movement disorder such as Parkinson's disease," Monahan wrote. McConnell's office declined to answer a request for further detail on what doctors believe caused the incidents. Twice in the last six weeks, the Kentucky Republican froze up during public appearances. The two incidents have raised fresh questions among Republican and Democratic members of Congress about McConnell and other aging lawmakers.

Persons: Mitch McConnell, Mitch McConnell's, Brian Monahan, Monahan, McConnell, Makini Brice, David Morgan, Jasper Ward, Scott Malone, Doina Chiacu, Howard Goller Organizations: U.S ., U.S . Senate, U.S, Senate Republican, Kentucky Republican, Capitol, Republican, Democratic, Senate, Thomson Locations: Washington, Kentucky, Washington , U.S, WASHINGTON

☆ US Senate races ahead of House on spending bills, aims to avoid gov't shutdown
▼ + stars: | 2023-09-05 | by ( Richard Cowan | ) www.reuters.com time to read: +6 min

Democrats and Republicans in the Senate Appropriations Committee have backed the 12 separate spending bills that would finance most government operations for fiscal 2024, while their House Appropriations Committee has been producing bills with only Republican support. Some hardline House Republicans have dismissed the risks of a government shutdown, saying it could be a cudgel for achieving deeper spending cuts to address the $31.4 trillion national debt. 'A PRETTY BIG MESS'Top Senate Republican Mitch McConnell has voted for every one of the 12 fiscal 2024 bills advanced by the Senate Appropriations Committee, as have nearly all of his fellow committee Republicans. Meanwhile, as some hardline House Republicans push for defense spending cuts instead of a buildup, there is pushback within their 222-member caucus. He was referring to a special House-Senate negotiating team that likely would be tasked with ironing out differences between House and Senate defense appropriations bills.

Persons: Kevin Wurm, Joe Biden's, Biden, Republican Kevin McCarthy, Chuck Schumer, McCarthy, Andrew Bates, William Hoagland, Senate Republican Mitch McConnell, McConnell, Tom Cole, we'll, Richard Cowan, Trevor Hunnicutt, Scott Malone, William Maclean Organizations: U.S, Capitol, REUTERS, Rights, Democrats, Senate, Republicans, Democratic, Republican, White, Center, Senate Republican, House Republicans, Thomson Locations: Washington , U.S, U.S, Ukraine, Kentucky

On Wednesday, McConnell was speaking to reporters in Kentucky when he froze for more than 30 seconds. McConnell had been sidelined from Congress earlier this year, after he tripped in March and was hospitalized for a concussion and a minor rib fracture. "I have informed Leader McConnell that he is medically clear to continue with his schedule as planned. Senator Dianne Feinstein, 90, was absent from the Senate for months earlier this year, after she suffered complications from shingles. "He was his old self on the telephone," said Biden, who served with McConnell in the Senate.

Persons: Senate Republican Mitch McConnell, Mitch McConnell, McConnell, Congress's, Brian Monahan, Dianne Feinstein, Joe Biden, Biden, Biden's, Donald Trump, Makini Brice, Scott Malone, Chris Reese, Jonathan Oatis Organizations: U.S, Senate Republican, Northern Kentucky Chamber of Commerce, ABC, U.S . Capitol, Senate, Lawmakers, Democratic U.S, Democrats, Democratic, Thomson Locations: Covington , Kentucky, U.S, WASHINGTON, Kentucky, Washington, United States

☆ Biden admin proposes regulation to eliminate 'gun show loophole'
▼ + stars: | 2023-08-31 | by ( Ken Dilanian | Rebecca Shabad | ) www.cnbc.com time to read: +4 min

Attorney General Merrick Garland said in a statement Thursday that the move is a result of the bipartisan law passed by Congress last year. The "gun show loophole" has been cited for years as a major hole in the federal background check system, allowing a vast number of private sales without background checks. The ATF currently licenses about 80,000 brick-and-mortar gun dealers, but gun sales are increasingly taking place outside that system, free of background checks. Earlier this year, Biden signed an executive order designed to expand background checks. Biden also noted that the law closed the so-called boyfriend loophole by keeping guns away from unmarried dating partners convicted of abuse.

Persons: WASHINGTON —, General Merrick Garland, Biden, Garland, Thursday's, Barack Obama, Pat Toomey, Joe Manchin Organizations: Alcohol, Tobacco, Firearms, Explosives, Biden, Congress, Safer, ATF, NBC News, Justice Department, Sandy Hook Elementary, Senate, Republicans Locations: Washington ,, WASHINGTON, Midland, Odessa , Texas, Newtown , Connecticut

☆ Mark Meadows asks judge to dismiss charges in Georgia RICO case, saying he was just doing his job as Trump's chief of staff
▼ + stars: | 2023-08-21 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Lawyers for Mark Meadows asked a judge to dismiss the criminal charges against him. He faces RICO charges in Georgia for his efforts in Trump's scheme to overturn election results. His lawyers say he was just doing his job as Trump's chief of staff. Even if state officials like Willis deem his activities as breaking state law, they're consistent with federal law and therefore protected, according to his lawyers. "Even if they had, moreover, a federal official does not lose Supremacy Clause immunity based on a violation of federal law where the violation was not clear and willful."

Persons: Mark Meadows, Donald Trump's, Meadows, Trump, Fani Willis, Steve C, Jones, Barack Obama, Jones hasn't, he's, Justice Elana Kagan, Willis, Jack Smith Organizations: Service, Trump, Georgia, US, Supreme, of Locations: Georgia, Wall, Silicon, Atlanta, Fulton County, United States, It's, Meadows, of Georgia

☆ Congress's UFO hearing shows the hardest part of discovering alien life may be announcing it. Here's how NASA might break the news.
▼ + stars: | 2023-08-11 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +9 min

An illustration of the CoLD scale for determining confidence in a detection of alien life. The discovery of extraterrestrial life is likely to be a slow build-up, rather than an explosive eureka moment. The president or other countries could be involved in announcing extraterrestrial life existsPresident Joe Biden speaks at Delaware State University. Anna Moneymaker/Getty ImagesAnnouncing the existence of alien life would be an "administration-level" affair, Glaze said, referring to the US presidency. Needless to say, any discovery of alien life would likely lead to chaos — at least in public discourse.

Persons: NASA isn't, David Grusch, Randall Hill, UAPs, Elon Musk, John Locher, Karine Jean, Pierre, we've, Lori Glaze, Glaze, James Webb, Jean, Philippe Arles, It's, Aaron Gronstal, Mary Voytek, Joe Biden, Anna Moneymaker, Carlos Garcia Rawlins, Stephen Hawking, I'm, we're Organizations: Service, NASA, Beijing, Reuters, Department of Defense, Associated Press, AP, White House, Navy, US Department of Defense, JPL, Caltech, Delaware State University Locations: Wall, Silicon, South Carolina, Surfside Beach , South Carolina, US, Alaska, Canada, Lake Huron, Rachel , Nevada, Bugarach, France

☆ Trump's new indictment says he knew he was lying about 2020 election fraud. But prosecutors don't need to prove that to convict him.
▼ + stars: | 2023-08-03 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

The new indictment against Trump argues he knew his claims of fraud in the 2020 election were lies. According to the indictment, Trump knew that his opponent Joe Biden won the contest, but lied anyway in a last-ditch effort to cling to power. If he does prove that Trump knew he lost, then it's off to the races." Proving Trump knew he was lying helps prove criminal intentConvincing a jury that Trump knew the election results were legitimate would be one of several ways that Smith could prove Trump acted with criminal intent. Even your own counsel is not saying I have that authority," Pence told Trump, according to the indictment.

Persons: Trump, Donald Trump, Joe Biden, Biden, Robert Kelner, Ryan Goodman, Jack Smith, Goodman, Smith, —, He's, Trump's, Jean Carroll, Carroll, Mike Pence —, he'd, Sidney Powell's, Rudy Giuliani, Sidney Powell, Tom Williams, Pence —, Pence, John Eastman, Eastman, Goodman —, BRENDAN SMIALOWSKI, Getty Images Trump, It's, Brad Raffensperger, Rusty Bowers —, Raffensperger, Mike Pence, Rusty Bowers, Smith doesn't Organizations: Service, Trump, Washington, New York University . Justice, Senior White House, Defendant, Inc, Getty, Just Security, Getty Images, Arizona, National Archives, Justice Department, Capitol Locations: Wall, Silicon, Washington ,, AFP, Pence, Georgia, Arizona

☆ Trump indictment: Ex-president pleads not guilty in 2020 election case at 3rd arraignment this year
▼ + stars: | 2023-08-03 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Donald Trump showed up to court to plead not guilty to crimes — again. This time, it's for the DOJ indictment over his alleged attempts to overturn the 2020 election. In Washington, DC, federal court on Thursday afternoon, Trump entered a not-guilty plea for the latest indictment, alleging he broke criminal laws by trying to overturn the results of the 2020 election. On Tuesday, a DC-based federal grand jury overseen by Justice Department special counsel Jack Smith brought four charges against Trump. "Not guilty," Trump said at Thursday's arraignment, overseen by US Magistrate Judge Moxila Upadhyaya.

Persons: Donald Trump, —, It's, he's, Trump, Jack Smith, Joe Biden, Moxila Upadhyaya, Tanya Chutkan, Barack Obama, Prosecutors didn't, Smith, Attorney Alvin Bragg, Bragg, Stormy Daniels, Stephanie Clifford, Trump . Trump Organizations: Service, Justice, Trump, US, US District, Attorney, Trump ., Republican Locations: Wall, Silicon, Washington, DC, Florida, Mar, Manhattan

☆ Wall Street starts fretting about US debt again after months of easy stock-market gains
▼ + stars: | 2023-08-02 | by ( Joseph Wilkins | George Glover | ) www.businessinsider.com time to read: +3 min

Stocks have racked up easy gains over the past few months thanks to AI and cooling inflation. But investors are suddenly worried about debt again after Fitch slashed its credit rating for the US. The last time this happened was 2011 – and the S&P 500 took six months to recover its losses. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. In response, the S&P 500 dropped 6.5% and took a further six months to recover its losses.

Persons: Fitch, –, It's, Stocks, AJ Bell's, Laith Khalaf, Fitch's, Ray Dalio Organizations: Service, Poor's, House Locations: Wall, Silicon, –, Washington –, Canada

☆ Donald Trump Jan. 6 indictment: Ex-president charged in DOJ's criminal probe into 2020 election interference — his 3rd indictment this year
▼ + stars: | 2023-08-01 | by ( Azmi Haroun | Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Donald Trump has been indicted as part of the Department of Justice's investigation into the events leading up to the Jan. 6 Capitol riot. The riot was the culmination of efforts by Trump's supporters to block the certification of Biden's election. The Justice Department, in a team led by Special Counsel Jack Smith, brought the charges. Trump announced last month that Smith's team had served him a target letter indicating he may be indicted in the investigation. Trump and six co-conspirators also attempted to rope then-Vice President Mike Pence in their scheme and use the Justice Department to keep Trump in power, the indictment alleges.

Persons: Donald Trump, Trump's, Trump, Joe Biden, Jack Smith, Smith, Mike Pence, Walt Nauta, Stormy Daniels, MANDEL NGAN, Rudy Giuliani, Mark Meadows, John Eastman, Giuliani, What's, Win McNamee, Fani Willis empaneled, George, Biden, Dana Nessel, Jean Carroll Organizations: Department of, Service, Republican, The Justice Department, Truth, Justice Department, Trump, Capitol, White, Prosecutors, Representatives, US Department of Justice, Getty, DOJ, The Washington Post, NPR, Fulton Locations: Wall, Silicon, Florida, New York, Manhattan, Washington ,, AFP, Washington , DC, Fulton County, Atlanta, Michigan

☆ Trump was indicted over his involvement in the January 6 Capitol riot and efforts to overturn the election results. Here's what the 4 charges against him mean.
▼ + stars: | 2023-08-01 | by ( Rebecca Cohen | Sonam Sheth | Erin Snodgrass | ) www.businessinsider.com time to read: +6 min

He's been charged with conspiracy to defraud the government, obstruction of an official proceeding, and conspiracy against rights. The charges include conspiracy to defraud the United States, conspiracy to obstruct an official proceeding, obstruction of and attempt to obstruct an official proceeding, and conspiracy against rights. Here's a breakdown of the new criminal charges Trump is facing and what they mean. If convicted of this charge, Trump could face a maximum of 5 years in prison, Rahmani said. Obstruction of an official proceeding is among the most widely used charges federal prosecutors have brought against other defendants related to the Capitol riot.

Persons: Donald Trump, He's, Jack Smith's, Trump, Rahmani, Mike Pence, Biden, he'll, Joe Biden's, it's Organizations: Service, Capitol, Justice Department, Trump, Prosecutors, Washington Post, Ku Klux, Senate Locations: Wall, Silicon, United States, Here's, California

☆ Who was Lewis Strauss, the villain played by Robert Downey Jr. who tried to frame J. Robert Oppenheimer as a communist?
▼ + stars: | 2023-07-24 | by ( Sebastian Cahill | Hannah Getahun | ) www.businessinsider.com time to read: +6 min

Lewis Strauss oversaw J. Robert Oppenheimer as chairman of the Atomic Energy Commission. Strauss used Oppenheimer's communist sympathies to begin stripping his security clearances. However, Strauss was the first to take serious action about Oppenheimer's Communist accusations. The film reenacts another instance when Strauss feels Oppenheimer slighted him — as Oppenheimer and Albert Einstein, played by Tom Conti, speak by a pond after Strauss offers Oppenheimer a prestigious job at the Institute for Advanced Study. Strauss also began a separate security proceeding with the AEC over Oppenheimer's alleged Communist ties, which resulted in his security clearances being suspended.

Persons: Lewis Strauss, J, Robert Oppenheimer, Strauss, Nolan's, Oppenheimer, Robert Downey Jr, J.Robert Oppenheimer, Herbert Hoover, Cillian Murphy, Murphy, Harry Truman, Eisenhower, Jean Tatlock, Florence Pugh, —, Albert Einstein, Tom Conti, Einstein, Edgar Hoover, surveilling Oppenheimer, Oppenheimer's, Hoover, William Liscum Borden, Nolan, David Dastmalchian, Downey, Christopher Nolan, Amadeus, that's, Mozart, Salieri, Emily Blunt, Kitty Organizations: Atomic Energy Commission, Service, US Navy, AEC, —, Manhattan Project, Institute for, FBI, Joint Atomic Energy, Commerce, Democrats, Rotten, The New York Times Locations: Wall, Silicon, West Virginia, Nolan's, Soviet Union, Canada

The winning candidate must receive at least 270 of the 538 total electoral votes. Each of the 50 states is assigned a number of electoral votes that match the size of their congressional delegation. In all but two states, the winner of the popular vote receives all of the state's electoral votes. In most elections, the winner of the national popular vote has also won the Electoral College vote. Those electors met on Dec. 14, 2020, to cast their votes for Trump - the same day when legitimate electors cast their ballots for Biden.

Persons: John Eastman, Donald Trump's, Rudy Giuliani, Read, Dana Nessel, Republican Donald Trump, Democrat Joe Biden, Hillary Clinton, Joe Biden, Kenneth Chesebro, Trump, Biden, Mike Pence, Congress's, Pence, JAN, Jeffrey Clark, Andy Sullivan, Scott Malone, Grant McCool Organizations: Trump, U.S, Congress, Michigan, Republican, Democrat, U.S . Constitution, of Columbia, Senate, Electoral, Trump's, U.S . Capitol, White, Capitol, U.S . Justice, Washington . Eastman, Justice Department, Thomson Locations: U.S, Washington , U.S, WASHINGTON, U.S ., California, Vermont, Wyoming, Maine, Nebraska, The Michigan, Michigan , Pennsylvania, Arizona, Georgia, New York, Washington

☆ Even Wall Street has no clue which way the economy is going
▼ + stars: | 2023-07-10 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Wall Street hasn't been so divided for two decades, according to Bloomberg. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Similarly, the Federal Reserve's own forecasters say it's a 50-50 call whether the US will manage to escape a severe economic slump. And you can add Wall Street to the list of places where there's limited agreement on if there'll be a recession before the end of this year. The range of views on Wall Street is so wide that when it comes to stocks, analysts haven't been so divided for 20 years, according to Bloomberg.

Persons: Joe Biden, Janet Yellen, there'll, Goldman Sachs, there's, Morgan Stanley's, Mike Wilson, haven't Organizations: Bloomberg, Service, Federal, Bank of America, JPMorgan Locations: Wall, Silicon

☆ Chief Justice John Roberts said his opinion to strike down student-loan forgiveness doesn't mean the court opposes all relief. It just means Biden didn't have the authority to carry it out.
▼ + stars: | 2023-06-30 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

On Friday, the Supreme Court struck down President Biden's student-loan forgiveness plan. Chief Justice John Roberts said in his opinion that the Secretary of Education wasn't the proper person to implement it. The Supreme Court thinks it's a matter suited to the legislative branch, rather than the executive one. "The question here is not whether something should be done; it is who has the authority to do it," Roberts concluded. So he could potentially enact a plan to deliver relief using another law, like the Higher Education Act of 1965, which does not rely on a national emergency.

Persons: Biden's, John Roberts, —, Joe Biden's, Miguel Cardona's, Biden, John Roberts scathingly, Roberts, Massachusetts Sen, Elizabeth Warren, they've Organizations: Service, Department, Republican, Higher, Democratic, Twitter Locations: wheelhouse, Massachusetts

June 20 (Reuters) - The U.S. Supreme Court on Tuesday threw out a lower court ruling that blocked South Carolina from ending public funding to Planned Parenthood, giving the Republican-governed state another chance to defend its bid to deprive the reproductive healthcare and abortion provider of government money. Circuit Court of Appeals had barred South Carolina from terminating funding to Planned Parenthood South Atlantic, the organization's regional affiliate, under Medicaid, because the organization provides abortions. Planned Parenthood South Atlantic operates clinics in the South Carolina cities of Charleston and Columbia, where it provides physical exams, cancer and other health screenings, as well as abortions. South Carolina is one of numerous Republican-led states that have moved to ban or restrict abortion since the Supreme Court in 2022 overturned the landmark 1973 Roe v. Wade decision that had legalized the procedure nationwide. The law is a revised version of a previous ban that the state's highest court struck down in January.

Persons: Julie Edwards, Henry McMaster, Edwards, Roe, Wade, Andrew Chung, Nate Raymond, Will Dunham Organizations: U.S, Supreme, Republican, Circuit, Appeals, Atlantic, Medicaid, Federal Nursing Home, Thomson Locations: South Carolina, Indiana, Richmond , Virginia, Charleston, Columbia, South Carolina's, New York, Boston

WASHINGTON, June 16 (Reuters) - The U.S. Senate Banking Committee will consider a bill Wednesday that would allow regulators to claw back compensation for executives at failed banks. The bill, which also would require banks to include in their bylaws standards around responsible bank management, comes in response to the abrupt failures of Silicon Valley Bank and other banks in recent months, which set off broader turmoil in the banking sector. "Americans have watched executives take their money, run banks into the ground, and get away with it too many times before. It’s time for CEOs to face consequences for their actions, just like everyone else," said Brown in a statement. Reporting by Pete Schroeder, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Sherrod Brown, Tim Scott, Brown, Pete Schroeder, Deepa Babington Organizations: U.S . Senate, Republican, Valley Bank, Thomson

The deal to suspend the $31.4 trillion debt ceiling until January 2025 holds non-defense discretionary spending largely flat this year, with a 1% increase in fiscal 2024. SOCIAL SECURITY, MEDICARE OFF LIMITSIn their debt limit negotiations, both President Joe Biden and House of Representatives Speaker Kevin McCarthy vowed not to touch the main driver of U.S. debt: rising Social Security pension and Medicare health benefit costs. Debt-ceiling negotiations spared cuts to mandatory spending like Medicare, Medicaid and Social Security even though these programs cost more than discretionary spending. CBO projects the government will spend $6 trillion on mandatory spending programs in the 2033 fiscal year, up from $4.1 trillion this year. But the plan failed when then-president Barack Obama declined to endorse it, setting up Congress for the debt ceiling battle of 2011.

Persons: Joe Biden, Kevin McCarthy, Julia Nikhinson, Dennis Ippolito, you've, Nigel Chalk, Biden, Brian Riedl, Linda Bilmes, Bowles, Barack Obama, Bilmes, David Lawder, Andy Sullivan, Heather Timmons, Nick Zieminski Organizations: White, REUTERS, WASHINGTON, Republicans, Defense, Southern Methodist University, Congressional Budget Office, Security, Social Security, CBO, International Monetary Fund, Reuters, Democratic, Western Hemisphere Department, IMF, Manhattan Institute, Harvard Kennedy School, Commerce Department, Simpson, Thomson Locations: United States, Washington , U.S, U.S, Washington

Regional and global markets on Friday chalked up solid gains and volatility measures slumped after the release of forecast-smashing U.S. jobs figures. It looks like the 'sell in May and go away' maxim won't apply this year - investors are bullish and they are buying. Looking ahead, investors in Asia have plenty of economic events and monetary policy decisions to get their teeth into this week. Inflation data from Indonesia, the Philippines, Thailand, Taiwan and China will be released, starting with Indonesia on Monday. Economists polled by Reuters expect annual CPI inflation eased in May to a one-year low of 4.22% from 4.33% in April.

Persons: Jamie McGeever, Diane Craft Organizations: Nikkei, Manufacturing, U.S . State Department, Indonesia, Reuters, Reserve Bank of Australia, Reserve Bank of, Indonesia CPI, Thomson Locations: U.S, Asia, Japan, China, India, Australia, Korea's, Beijing, Indonesia, Philippines, Thailand, Taiwan, Reserve Bank of India, Singapore

☆ 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.

WASHINGTON, May 17 (Reuters) - President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default. Asked by reporters at the Capitol whether it's possible to reach a debt ceiling deal by the time Biden returns from Asia on Sunday, McCarthy replied, "It's doable." On Tuesday, Biden and McCarthy met for about an hour at the White House with Senate Majority Leader Chuck Schumer, Senate Republican leader Mitch McConnell and House Democratic leader Hakeem Jeffries. Biden plans a news conference in Hiroshima on Sunday before leaving to return to Washington, a White House official said. WORK REQUIREMENTSNegotiations are continuing over the longevity of any deal, work requirements for aid programs for the poor, including food subsidies, and spending caps.

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