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The White House is confronted by an autoworkers’ strike that Biden himself had predicted two weeks ago wouldn’t happen. White House tries to compartmentalizeAll presidents find themselves weathering tough stretches. Biden’s White House has sought to compartmentalize its response to McCarthy’s impeachment inquiry, walling it off from the ongoing work of the administration. On one side: President Biden, who is focused on delivering for the American people. “Being the son or daughter or granddaughter of a senator, a vice president, a president … everybody thinks it’s a great thing.
Persons: Joe Biden, Biden, , Julie Su, Gene Sperling –, , Su, Sperling, Debbie Dingell, Gene Sperling, they’ve, We’ve, Shawn Fain, Kevin McCarthy, Hunter Biden, headwinds, he’s, David Weiss, Weiss, Volodymyr Zelensky, Jake Sullivan, , Sullivan, “ That’s, ” Biden, I’ve, Donald Trump, Biden’s, walling, , it’s Organizations: CNN, Labor, White House, Detroit “, United Auto Workers, Big Three, – Ford, General Motors, Democratic, CBS, United Nations General Assembly, UN, Republicans, Metropolitan Museum of Art, Broadway, Republican, New, White Locations: New York City, Detroit, Michigan, New York, California, Washington , DC, Washington, Northern Virginia
Ed Siskel moved from Chicago to Washington last weekend to begin his new role as White House counsel. He had one entire day — last Monday — to settle into his office, in a coveted corner on the second floor of the West Wing. In a statement, Mr. Biden praised Mr. Siskel as a seasoned lawyer who could “hit the ground running as a key leader on my team” to advise on everything from policy litigation to judicial nominations. Still, it was an unusually busy week — and one focused squarely on impeachment — even by Washington’s frenetic standards. A veteran of the Obama White House, where he countered Republican efforts in the Benghazi and Solyndra investigations, Mr. Siskel, 51, will help steer Mr. Biden through a political maelstrom as an ultraconservative bloc of Republicans pushes for impeachment.
Persons: Ed Siskel, , Siskel’s, Biden, Siskel, Obama Organizations: Republicans, House Locations: Chicago, Washington, Benghazi
WASHINGTON (AP) — As the Biden administration heralds the forthcoming release of five U.S. citizens detained by Iran, President Joe Biden is also confronting questions about the price being paid to bring them — and other detainees — home. But each time, officials have said bringing home Americans held by foreign adversaries is a core administration priority that necessarily comes at a heavy cost. Increasingly, the Biden White House has appeared willing to pay it. The Biden administration is, of course, hardly unique in prisoner swaps. The Obama administration in a 2016 deal that drew consternation granted clemency to seven Iranians charged in the U.S. in exchange for the release by Iran of four Americans.
Persons: Biden, Joe Biden, Matthew Miller, , Michael Waltz, they’ll, Trump, Donald Trump, who'd, Obama, there's, Siamak Namazi, James W, Danielle Gilbert, , It's, There's, Mark Frerichs, Bashir Noorzai, Nicolás Maduro’s, Antony Blinken, Iran wouldn’t, Ebrahim Raisi, Gilbert Organizations: WASHINGTON, U.S, WNBA, Biden White, Mideast, , Republican National Convention, Foley Foundation, Northwestern University, Justice Department, U.S ., U.S . U.S, NBC Locations: Iran, America, Russia, , U.S, Florida, Iranian, Washington, Venezuela, South Korea, Qatar, Northwestern
The SAFE Banking Act would make it lawful for legal marijuana businesses to use major financial and banking institutions. Smart Approaches to Marijuana Action, a political organization opposed to marijuana legalization, urged Tuberville to oppose the legislation in a recent letter. Financial institutions, including small and community banks, have also put pressure on lawmakers, including Tuberville, to support the bill. There's been these attempts by the chairman of the Banking Committee to add a bunch of other stuff onto it, and I think that just completely torpedoes the chances." Ahead of his re-election campaign, President Joe Biden announced his intention to pardon federal convictions for simple marijuana possession offenses at the end of last year.
Persons: Chuck Schumer, We've, Sen, Steve Daines, Sherrod Brown, Kevin Cramer, Daines, Cramer, Dan Sullivan, Lisa Murkowski, Bill Cassidy of, Cynthia Lummis of, Rand Paul of Kentucky, Susan Collins of, Kevin McCarthy of California, McCarthy, Tommy Tuberville, Steve Stafford, Tuberville, Sullivan, Jeff Sessions, Trump, Sheriff Dan Springer, Springer, I've, Jeff Merkley, Jack Reed, It's, Cory Booker of, Dave Joyce, Alexandria Ocasio, Joe Biden Organizations: U.S, Capitol, Banking, Housing, Urban Affairs, SAFE, Republicans, Democrats, GOP, Auburn University, Smart, Senators, Republican, D.C, Sheriff, HOPE Locations: Ohio, GOP Sens, Alaska, Bill Cassidy of Louisiana, Cynthia Lummis of Wyoming, Susan Collins of Maine, Washington, Gallatin County , Montana, Montana, Cory Booker of New Jersey, R, Alexandria, Cortez
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
The indictment comes weeks after the collapse of a plea deal that would have averted a criminal trial and distracting headlines for President Joe Biden. Trump's include federal indictments over the handling of classified documents and efforts to overturn his 2020 election loss to Joe Biden. Trump also pointed to the lack of connection to Joe Biden in the gun charge plea agreement. Federal prosecutors investigating Hunter Biden have not indicated Joe Biden is connected over the course of their yearslong probe. Two FBI agents who worked on the Hunter Biden case testified separately behind closed doors this week to lawmakers about allegations of political interference in the case.
Persons: — Hunter Biden, Biden, Joe Biden, doesn't, Hunter, He's, Donald Trump’s, Hunter Biden, James Comer, Trump, David Weiss, , Weiss, Abbe Lowell, , Republicans ’, Lowell, Hunter Biden's, Christopher Clark, Adam Winkler, Thomas Sobocinski, Farnoush Amiri Organizations: WASHINGTON, Democratic, Republicans, , Republican, Delaware U.S, Prosecutors, ., University of California, Los Angeles School of Law, Supreme, Circuit, Congressional Republicans, FBI, Baltimore Field Office, Justice Department, Associated Press Locations: Delaware, Washington, California, Wilmington , Delaware
To the Editor:Re “McCarthy Opens Inquiry of Biden, Appeasing Right” (front page, Sept. 13):Speaker Kevin McCarthy’s announcement that the House of Representatives — which he leads with subservience to a vengeful far-right minority and a former president to whom he has sold his political soul — has opened an impeachment inquiry into President Biden is clearly a low point in our politics. The scheme by Republicans to punish the president, which comes without evidence, is a desperate gasp. It is motivated by former President Donald Trump’s persistent call for retribution and by congressional Republicans, whose only agenda has been one of obstruction, replacing meaningful efforts toward legislation that could benefit the American people. The heavy weight of evidence supporting Donald Trump’s multiple indictments has not resonated with the vast majority of Republicans, who are determined at all costs to distract from his legal embroilment by elevating Biden family activities to a level of criminality. In Kevin McCarthy, House Republicans have a leader whose actions, beginning with his tortuous unprincipled path to the speakership, have been focused solely on a need to preserve his fragile position.
Persons: “ McCarthy, Kevin McCarthy’s, , subservience, Biden, Donald Trump’s, Kevin McCarthy Organizations: Biden, Republicans, House Republicans
Is there an election coming up by any chance?”While some individual schools and colleges have implemented temporary mask requirements, there is no sign that anyone in federal or state leadership is considering widespread COVID-19 restrictions, requirements or mask mandates. “No COVID-19 public health restrictions or mask requirements are being considered by the Murphy administration," said Christi Peace, spokesperson for New Jersey Gov. It was largely the same message from Democratic governors’ offices in several other states that responded to an inquiry about whether any COVID-19 mandates were under consideration. “Currently, COVID-19 lockdowns and mask mandates are not being discussed and the governor has no plans to institute these measures,” she said. Reinstated mask requirements across the country have so far been limited to a handful of local schools and businesses.
Persons: It's, Ron DeSantis, , Carolina Sen, Tim Scott, Donald Trump, Biden, ” Trump, Murphy, Phil Murphy, Jodi McGinnis Porter, Josh Shapiro, Kathy Hochul, Elisabeth Shephard, Tina Kotek, , Alex Jones, Lauren Boebert, Marjorie Taylor Greene, Joe Biden’s, ” Biden, they’ve, Sen, J.D, Vance of, Democratic Sen, Ed Markey, Greene, Lisa Fazio, Tate Reeves, Nicky Forster, Joey Cappelletti, Mike Catalini, Jill Colvin, John Hanna, Maysoon Khan, Seung Min Kim, Steve LeBlanc, Morgan Lee, Marc Levy, Lisa Mascaro, Andrew Selsky Organizations: Florida Gov, Republicans, New Jersey Gov, New, New Mexico Department of Public Health, Oregon . Pennsylvania, Democrat, Democratic, New York Gov, TSA, Transportation Security, U.S . Centers for Disease Control, Prevention, Republican, Morris Brown College, CDC, White House, Massachusetts, Vanderbilt University, Press, Associated Press, AP Locations: , Carolina, Rapid City , South Dakota, New Mexico, Kansas , Massachusetts, Michigan, Oregon, California, New York, COVID, Colorado, Atlanta, Georgia, South Lake, Maryland, Vance of Ohio, Mississippi
Over the past several months, Mr. Trump has kept a close watch on House Republicans’ momentum toward impeaching Mr. Biden. Mr. Trump has talked regularly by phone with members of the ultraconservative House Freedom Caucus and other congressional Republicans who pushed for impeachment, according to a person close to Mr. Trump who was not authorized to publicly discuss the conversations. Mr. Trump has encouraged the effort both privately and publicly. House Republicans are proceeding with the impeachment inquiry without proof that Mr. Biden took official actions as vice president to benefit his son’s financial interests or that he directly profited from his son’s foreign deals. During those conversations, Ms. Stefanik also briefed Mr. Trump on the impeachment inquiry strategy, this person said.
Persons: Trump, Mr, Biden, Greene, Joe Biden, , , Biden’s, Hunter, Elise Stefanik, Stefanik Organizations: Republicans, Caucus, White House, of Justice, Republican Locations: New York
Ten years later, Congress appears to be on course toward a similar government shutdown. Former House Majority Leader Eric Cantor said the GOP didn't get a "win" then and likely won't now. Ten years later, Cantor thinks a similar situation may be on the verge of occurring. AdvertisementAdvertisementIn addition to not having a clear "exit strategy," Cantor said there's not a visible "win" in sight for Republicans. If a deal isn't made, hundreds of thousands of government employees will be furloughed until an agreement is found.
Persons: Eric Cantor, there's, Cantor, Joe Biden, Kevin McCarthy, McCarthy, isn't Organizations: GOP, Service, Republicans, Politico, Republican Party Locations: Wall, Silicon, Ukraine
The expansion of the child tax credit expired at the end of 2021, and other pandemic-related benefits have expired within the past year. As a result, the supplemental poverty measure rate for children jumped 7.2 percentage points to 12.4% in 2022, according to the Census Bureau. “We did see the child tax credit had a substantial decrease in child poverty." In a statement, President Joe Biden blamed congressional Republicans for failing to extend the enhanced child tax credit and vowed to restore it. The supplemental poverty measure includes both cash and noncash benefits and subtracts necessary expenses such as taxes and medical expenses.
Persons: ” Liana Fox, , Joe Biden, , Biden, Mike Schneider, X Organizations: U.S . Census, Black, Census, Democrat Locations: United States, U.S
The gun charge that Weiss indicates he will seek from a grand jury prohibits people who are users of illicit drugs from possessing a firearm. Federal prosecutors plan to ask a grand jury to indict Hunter Biden , the son of President Joe Biden , on gun-related charge before Sept. 29, they revealed in a court filing Wednesday. But Hunter Biden has been under criminal investigation by the U.S. Attorney's Office in Delaware, which Weiss leads, since 2018. Shortly afterward, Weiss said Hunter Biden would likely face trial in either California or Washington, D.C., for the tax crimes. Weiss's office has said the gun agreement is now off the table, and that it is not valid because it was not signed by the U.S.
Persons: Hunter Biden, Joe Biden, Patrick Daniels Jr, Weiss, Abbe Lowell, Hunter, David Weiss, , Lowell, Biden, Donald Trump, Trump, Judge Maryellen Noreika, Noreika, Department of Justice —, Merrick Garland, Garland, Hunter's Organizations: U.S, Circuit, Appeals, Government, Mr, NBC News, Attorney's, Republican, Department of Justice, Trump, DOJ, D.C, Probation Locations: Wilmington , Delaware, York, Mississippi, U.S, Delaware, China, Ukraine, noncompliance, California, Washington
A Huge Threat to the U.S. Budget Has Receded. For decades, runaway Medicare spending was the story of the federal budget. Budget news often sounds apocalyptic, but the Medicare trend has been unexpectedly good for federal spending, saving taxpayers a huge amount relative to projections. In a recent letter to the Senate Budget Committee, economists at the Congressional Budget Office described the huge reductions in its Medicare forecasts between 2010 and 2020. Medicare is growing more slowly than ever, but still more quickly than the rest of the federal budget.
Persons: Ronald Reagan, Barack Obama, that’s, , David Cutler, Cutler, haven’t, I’ve, Melinda Buntin, Buntin, Simpson, Bowles, aren’t, Trump, Joshua Gordon, Mitt Romney’s, , Sherry Glied Organizations: Medicare, , U.S, Budget, Harvard, Obama, Affordable, Senate, Congressional, New York Times, Office, White, Office of Management, Johns Hopkins, Social Security, Congress, Federal, Veterans, NASA, Wagner School Locations: Iraq, Afghanistan, N.Y.U, Washington
The Biden administration on Thursday proposed the broadest expansion of firearms background checks in decades, leveraging a provision of the bipartisan gun control law passed last year that requires thousands of unlicensed firearms brokers to register as federally licensed dealers. They are part of President Biden’s piecemeal efforts to enact a key policy goal, universal background checks, which has been repeatedly stymied by congressional Republicans. Federal law requires background checks only for purchases made through the about 80,000 firearms sellers who are “engaged in the business” of selling, shipping, importing or manufacturing weapons. The proposed rules are intended to close the gap between state and federal law by requiring anyone who earns a profit from selling firearms to obtain a federal license and conduct background checks. Dealers have previously been required to join the federal system only if they derived their chief livelihood from selling weapons.
Persons: Biden, Biden’s Organizations: Bureau, Alcohol, Tobacco, Firearms, Explosives, Republicans, Federal
Republicans have criticized how Biden and the federal government responded to the Hawaii fires, though officials in the state praised the support they received from the White House. “I let each governor I spoke with know if there’s anything the states need right now, I’m ready to mobilize that support,” Biden said. Biden visited the island early last week, pledging sustained federal support for the island and its residents. Biden signed an emergency declaration Monday unlocking federal resources and said Tuesday he was in “constant contact” with authorities from Florida. The US Coast Guard is supporting search and rescue, and there are three disaster survivor assistance teams deployed in Florida.
Persons: Joe Biden, Hurricane Idalia, Biden, Deanne Criswell, Idalia, Criswell, , ” Biden, Ron DeSantis, Brian Kemp, Henry McMaster, DeSantis Organizations: CNN, Hurricane, FEMA, White, Ukraine, Florida Gov, Georgia Gov, South Carolina Gov, Florida Republican, Department of Energy, Republican, US Coast Guard, US Department of Agriculture’s Food, Nutrition Service, US Army Corps of Engineers Locations: Hawaii, Florida, Maui, United States of America, Georgia, East Coast, West Coast
Opinion | Appeasing Donald Trump Won’t Work
  + stars: | 2023-08-20 | by ( David French | ) www.nytimes.com   time to read: +3 min
There was never any way to remove Trump from American politics through the Democratic Party alone. Rather than remove Trump from American politics by convicting him in the Senate after his second impeachment, Republicans punted their responsibilities to the American legal system. (In his most recent newsletter, my colleague Ross Douthat makes a powerful case that only politics can solve the problem of Donald Trump.) First, there is the simple political fear of losing a House or Senate seat. In polarized, gerrymandered America, all too many Republican politicians face political risk only from their right, and that “right” appears to be overwhelmingly populated by Trumpists.
Persons: Jan, convicting, Mitch McConnell, acquit Trump, , Trump, Ross Douthat, Donald Trump, ” Trump, podcaster Ben Shapiro, Barack Obama Organizations: Republicans, Trump, Democratic Party, American Locations: America
They said the GOP wants to slash earned benefits and hand out tax cuts for the wealthy. For instance, the Republican Study Committee released a report on spending priorities and reforms that would, among other measures, adjust the Social Security retirement age. "We will not now or ever support cutting or delaying retirement benefits for any senior in or near retirement," it said. "While the GOP tries to cut its funding, Democrats are committed to protecting Social Security for all Americans." "It's Medicare, Social Security, interest on the debt."
Persons: Biden, Andrew Bates, Bates, reconvenes, that's, California Sen, Alex Padilla, Kevin McCarthy, McCarthy, Sen, Ron Wyden Organizations: House, Republicans, GOP, Service, Privacy, White, Republican, Security, Labor, Health, Human Services, Education, Social Security, Big, Democratic, Social, Fox News, Senate Finance, AP News Locations: Wall, Silicon, California
A small part of the Inflation Reduction Act instructed the IRS to look into developing a free tax filing program. According to a Bloomberg Second Measure report, TurboTax is by far the most popular tax filing service with a 73 percent market share in May 2021. "The Free File program, which was created in partnership with tax preparation companies, clearly has not been successful in over two decades." Intuit, which makes TurboTax, and H&R Block both pulled out of the Free File Alliance during the pandemic. "Americans will be powerless when the IRS completely controls the tax filing process from start to finish."
Persons: It's, Joe Biden, Don Beyer, Beyer, Katie Porter, it's, Porter, Sen, Elizabeth Warren, Jason Smith Organizations: IRS, Service, Privacy, Democratic, Internal, Bloomberg, Coalition For Free, Rep, Alliance, Intuit, Office, Republican, Biden Administration Locations: Wall, Silicon, California
Washington CNN —The Trump-appointed US attorney who is investigating Hunter Biden has been given special counsel status after plea talks between the Justice Department and the president’s son fell apart. It’s the latest dramatic turn in the long-running criminal investigation of Hunter Biden that’s impacted President Joe Biden’s White House and has been a priority of congressional Republicans. The probe appeared to reach its conclusion when a plea deal was announced in June. The GOP had criticized the plea deal, accusing Weiss of giving Hunter Biden preferential treatment. Two career IRS agents who worked on the Hunter Biden probe went public as whistleblowers, claiming there was political meddling in the probe.
Persons: Hunter Biden, David Weiss, Merrick Garland, Weiss, It’s, Joe Biden’s, Hunter, Maryellen Noreika, , , Garland, Jim Jordan, “ David Weiss can’t, ” Jordan, Russell Dye, “ Weiss, James Comer of, Biden, coverup, California Weiss, Hunter Biden’s, Chris Clark, Robert Mueller, John Durham, ” Garland Organizations: Washington CNN, Trump, Justice Department, Republicans, GOP, Department, Hunter Biden, Ohio Republican, Biden, Central District of, District of Columbia, District of Locations: Ohio, James Comer of Kentucky, DC, California, Delaware, Washington, Central District, Central District of California, District, Delaware , Washington, , District of Delaware
"The situation is already very bad for dollar-based funds to invest in China's tech sector. There isn't much room for things to get worse," said Beijing-based China Growth Capital partner Wayne Shiong. Biden's move will likely make China-focussed venture capital firms feel more urgency to raise yuan funds from Chinese investors, he said. In response to Biden's executive order, China's commerce ministry said it was "gravely concerned" and reserved the right to take countermeasures. But the executive order is barely going to do anything, and China escalating would risk turning a molehill into a mountain."
Persons: Florence Lo, Joe Biden's, Donald Trump, Weiheng Chen, Wilson Sonsini, Biden, Chen, Wayne Shiong, Biden's, Yuan, Pan, Trump, Derek Scissors, Kane Wu, Michael Martina, Roxanne Liu, Ziyi Tang, Yantoultra, Sumeet Chatterjee, William Mallard Organizations: REUTERS, U.S, Reuters Graphics Reuters, China Growth Capital, Chinese Academy of Social Sciences, TECH, Hua Hong Semiconductor, Analysts, American Enterprise Institute, Thomson Locations: China, U.S, HONG KONG, WASHINGTON, Beijing, Washington, Shanghai, Hong Kong, Singapore, Bengaluru
In the CNN poll published Friday, 55% of all respondents said that Congress should stop authorizing new military aid for Kyiv. Worse, from my perspective, is the shameful fact that Republicans are far more likely to favor an end to aid than Democrats. He also has said the US should prioritize school safety over Ukraine aid. Certainly, the CNN poll suggests a measurable level of Democratic support for military solutions to geopolitical crises. Official opposition to Ukraine aid is most significant in Congress, which does play a role in what happens to the flow of assistance.
Persons: Adam Kinzinger, Kinzinger, , SSRS, Reagan, pollsters, Trump, Donald Trump, Vladimir Putin, Putin, Hitler, Charles Coughlin, Joe Biden’s, Hunter, ” Trump, Republicans ’ Biden, Hunter Biden, Dominic Tierney, Ron DeSantis, ” DeSantis, Mike Pence, Chris Christie Organizations: CNN, Republican, House Foreign Affairs, Air National Guard, Russia, Kyiv, Republicans, Ukraine, White, Fox News, FBI, DOJ, IRS, Swarthmore College, Florida Gov, Twitter, Trump, Former New Jersey Gov, GOP Locations: Illinois, Russia, Russian, Ukraine, Soviet Union, The, Iraq, Afghanistan, America, Florida, Iowa, Kyiv
Conservative organizations have released a proposed "battle plan" for the next Republican president. The plan calls for the president to end the Inflation Reduction Act, which has primarily benefited red states. The 2022 bill funnels hundreds of billions to states home to major clean energy projects, like Oklahoma and Texas. Paul Dans, a director with the Heritage Foundation, called Project 2025 a "battle plan" for the next Republican president, The New York Times reported. The Heritage Foundation did not respond to a request for comment ahead of publication.
Persons: Dans, we're, Sarah Hunt, Joseph Rainey Organizations: Republican, Service, Biden, Heritage Foundation, New York Times, Times, Joseph Rainey Center for Public Policy Locations: Oklahoma, Texas, Wall, Silicon
One US official said they have “no doubt” that Putin is “trying to hold out” until the 2024 election. Another source familiar with the intelligence said “it’s sort of the elephant in the room” for the US, Ukraine and Europe. Trump, the far-and-away front-runner for the GOP nomination at this point, has not committed to backing Ukraine in the war. Ron DeSantis walked back previous statements calling the war in Ukraine a “territorial dispute” he has maintained a broadly anti-interventionist policy. “Putting a shape on the US election will have an enormous effect” in how the war proceeds, the official said.
Persons: Vladimir Putin, Joe Biden, Donald Trump, , Putin, “ Putin, Trump, Biden, Ron DeSantis, Kevin McCarthy, Daniel Fried, Gian Marco Benedetto, Bill Taylor, Patrick Ryder, Matt Miller Organizations: Washington CNN —, CNN, Western, , Trump, Republican, Ukraine, GOP, Florida Gov, Congressional Republicans, Anadolu Agency, , New York Times, Pentagon Locations: Ukraine, Europe, European, Poland, Japan, Saudi Arabia Saudi Arabia, Russia, India
When the Fitch Ratings agency announced this week that it was downgrading its long-term credit rating of the United States from AAA to AA+, Biden administration officials were ready — and angry. Administration officials had been lobbying Fitch against the downgrade, which bewildered many economists but became immediate fodder for congressional Republicans and nonpartisan budget hawks to criticize the nation’s current fiscal direction. When the ratings agency went through with the move anyway, President Biden’s team mobilized a rapid response, with economic heavyweights inside and outside the administration criticizing the timing and substance of the announcement. The swift pushback was an effort to keep the downgrade from tarnishing Mr. Biden’s economic record amid a run of good news in key measures of the health of the American economy. And its aggressiveness reflected the critical importance of an improving economic outlook to Mr. Biden’s re-election campaign.
Persons: Biden, Fitch, Biden’s, Mr Organizations: Fitch, AAA, AA Locations: United States
“The repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management,” Fitch said in its report. Even though the US avoided a default on its debt this year, Fitch Ratings cited a 'steady deterioration in standards of governance' in dowgrading the nation's credit. Anna Moneymaker/Getty ImagesThe message from Fitch this week, and S&P more than a decade earlier, is that the constant brinkmanship in DC is eroding trust. Historically, raising the debt ceiling was not controversial — the “full faith and credit” of the United States wasn’t something either party wanted to trifle with. That’s because the entire global financial system hinges on the promise that the United States always pays its debts.
Persons: CNN Business ’, Fitch, Biden, ’ brinkmanship, , Donald Trump, ” Fitch, Anna Moneymaker, Barack Obama, Stocks, you’ll Organizations: CNN Business, New York CNN, America, Republican, United Locations: New York, United States, Washington, America
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