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The Latest Breaking News from Kevin McCarthy

Scoop: Janet Yellen’s private debt ceiling warning to Wall Street

Behind closed doors, Yellen says borrowing costs are already rising.

Axios

Democrats, worried about a Biden-McCarthy deal, push a backup plan to avoid default

Progressive Democratic lawmakers raised the alarm over comments Biden made earlier this week suggesting he's entertaining possible changes to federal safety net programs.

WEKU

Noah Feldman: Biden has no power to unilaterally raise the debt ceiling

If Congress fails to raise the debt limit, can President Joe Biden somehow borrow more money to save the United States from default? The short answer is no. But that hasn’t stopped a group of Senate Democrats from urging Biden to act unilaterally by invoking the Fourteenth Amendment.

Tribune News Service

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Jackie Calmes: Why is the climate on the table in the debt ceiling fight?

Lost amid all the attention to the partisan standoff over raising the nation's debt limit is the insanity of a big part of the Republicans' bargaining position: Many of the savings they demand in return for a higher debt ceiling would come from killing the landmark clean energy initiatives President…

Los Angeles Times

Tesco chair steps down after allegations of inappropriate behaviour; Rishi Sunak and Akshata Murty lost £200m in a year – as it happened

John Allan to stand down after allegations of inappropriate behaviour, while latest Sunday Times rich list shows first fall in the number of billionaires since financial crisis

The Guardian - UK

Most say pair debt limit increase with deficit cuts, but few following debate closely: AP-NORC poll

A new poll finds that most U.S. adults say they are highly concerned about the impact on the national economy if the U.S. debt limit is not increased and the government defaults on its loans

The Independent UK

Democratic tensions rise as Biden narrows debt ceiling talks

"There are going to be a lot of Democrats in a really uncomfortable position."

Axios

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Democrats Calling On The Use Of The 14th Amendment If Negotiations With Congress Fail

A group of Democratic Senators plans to urge President Joe Biden to invoke the 14th Amendment to address the debt ceiling crisis.

Zenger

McCarthy, Schumer eye debt-limit votes ahead of June 1 deadline

House Speaker Kevin McCarthy and Senate Majority Leader Chuck Schumer are making plans for votes in the coming days on a bipartisan deal to avert a catastrophic U.S. debt default.

Tribune News Service

Congress And The White House Have Yet To Come An Agreement Prior To A Default

Biden and Congressional aides currently in negotiations while the President is currently attending the G-7 as a recession looms.

Zenger

Debt ceiling negotiators rushing for weekend deal, but much work remains

Negotiators from the White House met over the debt limit with House Speaker Kevin McCarthy’s emissaries at the Capitol

The Independent UK

McCarthy says debt deal is close, predicts House vote next week

House Speaker Kevin McCarthy said that negotiators on the federal debt limit may reach an agreement in principle as soon as this weekend and that he expects his chamber to consider a deal by next week.

Tribune News Service

Contours of debt limit deal start to take shape - Roll Call

Lawmakers from both parties suggested negotiators were making progress Thursday toward a bipartisan deal that would raise the debt limit.

Roll Call

Kevin McCarthy created this "crisis"

At least Mitch McConnell admits the obvious: There will be no default, and everyone knows it. So WTF is going on?

Salon

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The Independent UK

George Santos bizarrely compares himself to a Mean Girls character: ‘I’m Cady’

Santos faces a potential expulsion vote in the House

The Guardian - UK

First Thing: Japan PM prepares push for nuclear weapons pledge in Hiroshima

Ukraine war and China’s Taiwan ambitions are expected to dominate G7 discussions, but Fumio Kishida will have a powerful backdrop. Plus, the rise and fall of Rudy Giuliani

Barchart

Stocks Climb Before the Open on U.S. Debt Deal Optimism, Walmart Earnings on Tap

June S&P 500 futures (ESM23) are up +0.16%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.21% this morning after three major U.S. benchmark indices rallied on Wednesday as hopes of a deal to raise the U.S. debt limit and a jump in regional bank stocks boosted risk appetite.

Barchart

Stocks Move Higher Before the Open on U.S. Debt Deal Optimism, Walmart Earnings on Tap

June S&P 500 futures (ESM23) are up +0.08%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning after three major U.S. benchmark indices rallied on Wednesday as hopes of a deal to raise the U.S. debt limit and a jump in regional bank stocks boosted risk appetite.

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The Independent UK

George Santos says Congress is like ‘Mean Girls’: ‘I’m Cady’

Santos faces a potential expulsion vote in the House

The Independent UK

AOC heckles George Santos after Congress votes on his future: ‘Resign! Resign bro!’

‘New Yorkers need better!’

The Independent UK

New work requirements for federal aid? GOP pushes proposals in debt talks

Work requirements for federal aid programs have emerged as a sticking point in ongoing negotiations over raising the nation’s debt ceiling, and President Joe Biden has signaled openness to a possible compromise even as many in his party have balked

The Independent UK

Who's who in the debt limit fight: Meet the four negotiators who could save the US from default

President Joe Biden and House Speaker Kevin McCarthy are turning to a select group of negotiators to help broker a deal to increase the nation’s borrowing authority and avoid the economic carnage that would ensue if a deal is not reached soon

Roll Call

House votes to refer Santos matter to Ethics panel - Roll Call

The House voted Wednesday to refer to the Ethics Committee a Democrat-led resolution to expel indicted New York GOP Rep. George Santos.

Al Jazeera

Biden, top Republican say confident debt default will be averted

Experts say a default would be catastrophic for US economy, but political standoff has persisted as deadline looms.

The Independent UK

Biden off to Japan for Group of Seven summit, says there's 'work to do' on global stage

President Joe Biden declared Wednesday there’s “work to do” on the global stage as he headed to Japan to consult with allies on Russia’s invasion of Ukraine and China’s assertive influence in the Pacific

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