• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy McCarthy not optimistic about reaching debt limit deal on Tuesday
Economy

McCarthy not optimistic about reaching debt limit deal on Tuesday

by May 24, 2023
by May 24, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

EXCLUSIVE – House Speaker Kevin McCarthy was not optimistic a deal would be reached regarding the debt limit as he headed out of the Capitol on Tuesday afternoon.

Fox News asked the speaker if he thought a deal would be reached on Tuesday.

‘I don’t think we’ll get one today,’ McCarthy said as he walked past the reporter.

It’s unclear where McCarthy was heading after he left the Capitol.

McCarthy met with President Biden on Monday, and although he hailed the discussions as ‘productive,’ he told his conference later that night that the White House was still ‘dug in’ on raising taxes and increasing spending.

Monday’s meeting was the third such meeting with the president to find common ground on moving forward with a debt ceiling agreement.

Now, with only nine days left until the U.S. government is expected to run out of cash to pay its current obligations, a deal has yet to be reached.

Democrats have insisted on raising the debt limit without preconditions. But Republicans are lining up behind the House-passed Limit, Save, Grow Act, which would increase the federal borrowing limit by $1.5 trillion while also slashing spending by roughly $150 billion from this year to the next.

Both sides have agreed that action is needed to reduce the deficit, but each has different ideas about how to do it – Republicans are looking to cut spending from today’s levels, while Democrats have called to increase tax revenue from the ultra-wealthy and large corporations.

Kelly Phares is an Capitol Hill Producer for Fox News in Washington, D.C. Follow her on Twitter: @kellyfphares

This post appeared first on FOX NEWS
You Might Also Like
  • GOP pilots in Congress call on Biden to withdraw his ‘entirely unqualified’ FAA nomination
  • Calls for UN leader’s resignation intensify after ‘shameful’ comments about Hamas attacks on Israel
  • Did Biden call UK PM Sunak ‘prejudiced’? White House pressed on comments on state puberty blocker bans
  • Biden returning to White House for first time since ending presidential bid, COVID diagnosis
Share
0
FacebookTwitterPinterestWhatsapp

previous post
House votes to end Biden’s crackdown on gas-powered trucks; four Dems join GOP
next post
Comer requests meeting with FBI director after refusal to produce Biden doc allegedly showing illegal scheme

You may also like

African country’s citizens fighting for Israel in Gaza will be...

March 14, 2024

Major pro-Israel group accuses Biden of fanning flames of antisemitism...

December 15, 2023

Biden shoots down Supreme Court expansion, says court could be...

June 30, 2023

Ethereum manages to recover on Tuesday with support

October 1, 2024

Democrats told us Biden was razor sharp. Wait till America...

July 22, 2024

Dem senator urges Supreme Court to reinstate major gas pipeline

July 19, 2023

McCaul demands UNRWA chief testify before Congress over alleged ties...

March 2, 2024

Bitcoin and Ethereum Analysis: Price Movement & Key Levels

November 4, 2024

Beijing bristles as Chinese companies could face sanctions for Russia...

February 16, 2024

Pennsylvania House nears vote on 2-year window for child abuse...

February 22, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Republicans turn up the heat on...

    September 20, 2023

    Sen. Hawley calls for ‘tough, tenacious’...

    March 28, 2023

    New report highlights ‘booming’ transgender surgery...

    July 2, 2024
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here