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The Latest Breaking News from Kevin McCarthy

Janet Yellen: ‘No good options’ if Congress fails to act on debt ceiling

The Treasury secretary paints a dire picture of what might happen if the borrowing limit is not increased before the department runs out of what it calls ‘extraordinary measures’ to operate under the current cap.

Chicago Sun-Times

Yellen: 'No good options' if Congress fails to act on debt

Treasury Secretary Janet Yellen says there are “no good options” for the United States to avoid an economic “calamity” if Congress fails to raise the nation’s $31 trillion-plus borrowing limit in the coming weeks

The Independent UK

Debt Ceiling Compromise Likely to Avert a Default: Kiplinger Economic Forecasts

Kiplinger

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GOP moderates privately panic over debt ceiling deal

"This looks messy but just look at the results — we got it done.”

Axios

Biden and McConnell have a debt limit past. Can they deliver another late-inning save?

McConnell may well wish to wash his hands of this year's blood-letting over the debt limit and all it entails. But he knows it will not be that easy. He may know that better than anyone.

WEKU

Hero finally home: Army Air Corps pilot killed in WWII makes his final trip back home

The remains of Army Air Corps Lt. Roy Coulson Harms, who was killed during a bombing raid in Romania in 1943, have been returned to family in Grafton, Wis., for burial.

Chicago Sun-Times

Republicans are being dangerous and irresponsible on debt ceiling crisis

Kevin McCarthy combines ambition and weakness. Hard-line Republicans claim to be the saviors of fiscal sanity. Their hypocrisy, even by Washington standards, is stunning, but Biden is taking a risk by not negotiating.

Chicago Sun-Times

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Republican debt cap plan to cut US jobs, slow growth: Economist

Moody’s chief economist told a US Senate panel that the Republican plan will ‘meaningfully increase’ recession chances.

Al Jazeera

Can Biden and McCarthy avert a calamitous debt default? 3 evidence-backed leadership strategies that might help

The U.S. is teetering toward an unprecedented debt default that could come as soon as June 1, 2023.

The Conversation

Pope receives U.S. House Speaker Kevin McCarthy

Pope Francis received U.S. House of Representatives Speaker Kevin McCarthy in a private audience on Thursday, the Vatican said.

Reuters

"Good riddance": GOP lawmakers' private glee at Tucker Carlson firing

“Tucker being gone makes my life easier with many things including Ukraine,” one GOP lawmaker said

Axios

"Nobody believes her": Republicans believe debt ceiling cliff is further than Yellen claims

Deadlines only work if all the parties actually believe that they are real.

Axios

US Senate launches latest legislative effort to take on China

Congressional push comes as US secretary of state says he will reschedule China visit cancelled over ‘spy balloon’ row.

Al Jazeera

Tax pledge’s father bestows blessing on GOP debt limit package - Roll Call

Grover Norquist says his group determined a debt limit bill wouldn’t raise taxes, which helped Speaker Kevin McCarthy secure a narrow win.

Roll Call

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The Guardian - US

Federal Reserve increases interest rates by a quarter point to 16-year high – as it happened

Central bank announces 10th straight increase – follow all the latest news

Salon

How to weaponize Republicans' propaganda

It's far past time to stop calling the GOP the party of "family values"

Axios

Debt-ceiling countdown sparks scramble for Plan B

Top Biden officials are privately debating a controversial escape hatch.

The Independent UK

Debt deadline: White House meeting set, but no solution yet

Facing the risk of a government default as soon as June 1, President Joe Biden has invited the top four congressional leaders to a White House meeting for talks next week

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Roll Call

Senate, for now, defers to Biden and McCarthy on debt talks - Roll Call

Senators are so far standing firm on letting Speaker Kevin McCarthy and President Joe Biden work out how to address the debt limit.

The Conversation

Yellen puts Congress on notice over impending debt default date: 5 essential reads on what's at stake

Lawmakers have been given notice of a new deadline if they are to avoid a damaging default on U.S. debt: June 1, 2023.

Reason

The Clock Is Ticking: U.S. Could Default on Debt Payments by June 1

It's time for President Joe Biden and House Speaker Kevin McCarthy to strike a deal that will avoid a default and cut spending.

The Guardian - US

Bipartisan US debt ceiling talks restart as deadline moves closer – as it happened

Joe Biden schedules 9 May meeting with congressional leaders after warning US could default on debt as soon as 1 June

Axios

Yellen breaks the debt ceiling ice

The timeline is more urgent than it looks, and a vast chasm remains between the two parties.

France 24

Yellen warns of looming June 1 US debt ceiling deadline

US Treasury Secretary Janet Yellen has written to congressional leaders warning that the federal government could run out of cash as early as June 1, unless they agree on raising the debt limit or suspending it. President Joe Biden has invited Republican House leader Kevin McCarthy for talks on May…

Asharq Al-Awsat

House Speaker Offers to Host Netanyahu if Biden Doesn't Send an Invite

The US House Speaker, Kevin McCarthy, voiced in Tel Aviv dissatisfaction with US President Joe Biden for failing to invite Prime Minister Benjamin Netanyahu to the White House. The Speaker said if Biden does not invite Netanyahu to Washington soon, he'll invite "the prime minister to come to meet with…

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