Debt
One House Republican called an apparent concession to Democrats “idiotic.”
Some House Republicans say Yellen is fearmongering with a June 1 date for the Treasury to run out of cash — except she’s never been that exact.
After another trip to the White House, the Republican speaker says he and President Joe Biden are finding out where their differences lie.
The Treasury Secretary added that some bills will "have to go unpaid" if lawmakers don't act in time.
WHAT'S HAPPENING
President Joe Biden says Republicans in the U.S. House must move off their “extreme positions” on the now-stalled talks over raising America’s debt limit.
Setting annual caps on outlays by government agencies and programs sounded smart in 2011 — until everyone agreed to ignore them.
The New York Democrat also addressed the possibility of Donald Trump winning the Republican nomination for president in 2024.
“No one will get everything they want,” Senate Majority Leader Chuck Schumer cautioned on Thursday.
The changes for welfare eligibility, however, could not be “anything of any consequence,” the president said before leaving on a trip to Japan.
“I’m frustrated that we even have to engage in these conversations because it gives credibility to what Republicans are trying to do," one House Democrat said.