McCarthy laid down a marker in his first meeting with Biden back in February. The new Republican speaker refused to raise any taxes to help offset federal deficits.
debt limit
Posted inBusiness, Nation & World, News, Politics
Debt ceiling deal reached by Biden and Republicans now set to go to Congress
The compromise announced late Saturday risks angering both Democratic and Republican lawmakers as they begin to unpack the concessions.
advertisement
Posted inOp-eds, Opinion
Commentary: The best way to deal with the debt ceiling? Ignore it.
If all of President Biden’s options are unconstitutional, then he should choose the least unconstitutional option.
Posted inBusiness, Nation & World, News, Politics
Biden, McCarthy reach ‘agreement in principle’ to raise debt ceiling as default looms
With the outlines of a deal in place, the legislative package could be drafted and shared with lawmakers in time for votes early next week in the House and later in the Senate.
Posted inMaine Voices, Opinion
Maine Voices: Don’t fall for current MAGA hysteria over the national debt
No other nation has as reliably paid its debts as the United States, and the U.S. has more than enough income to support its debt.
Posted inBusiness, Nation & World, News, Politics
Debt ceiling negotiators race to cement deal before June 5 deadline
Even if congressional Republicans and the White House reach an agreement to avert catastrophic default soon, they need time to put it into action.
Posted inBusiness, Nation & World, News, Politics
Democrats’ worry grows over White House approach to debt talks
House Democrats say they want more visibility in what is being discussed and more aggressive pushback from President Biden against Republicans.
Posted inLocal & State, Politics
Impacts of federal debt default could spread through Maine’s workforce, economy
The state has a lot of federal workers, and a lot of retirees and veterans who collect benefits. The biggest worry, though, seems to be in the unknown. The U.S. has never defaulted on its debts.
Posted inBusiness, Nation & World, News, Politics
McCarthy says debt ceiling standoff ‘not my fault,’ as White House warns of economic risks
Treasury Secretary Janet Yellen said Wednesday that ‘it seems almost certain’ that the United States would not make it past early June without defaulting.
Posted inBusiness, Nation & World, News
Anxious retirees, social service groups among those making default contingency plans
Politicians in Washington may be offering assurance that the government will figure out a way to avert default, but around the country, economic anxiety is rising and some people already are adjusting their routines.