Yellen says the US must take extraordinary measures to avoid a default.
Summary by NewsWall Apr 12 23
- Treasury Secretary Janet Yellen said the department will begin special accounting manoeuvres on January 19 to avoid exceeding the US debt limit, urging lawmakers to raise the limit to avoid a devastating payment default.
- Nonetheless, "it is unlikely that cash and extraordinary measures will be exhausted before early June," she said.
- Economists predict that if the debt ceiling is not raised, the Treasury will run out of cash around August.
- Yellen stated that during the 2021 debt limit battles, federal contractors and employees would go unpaid, and Social Security checks would be stopped, among other things.
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| Last Updated | Jan 13 23 |
| Total Articles | 7 |
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US House on Track to Pass Israel, Ukraine Aid With Democrats' Help: Long-stalled aid to Ukraine, Israel and Taiwan is on track to pass Congress as House ...
bloomberg.com/news/articles/2024-04-18/ukraine-israel-aid-on-track-to-pass-as-democrats-back-plan
Behind the IMF's warning to Biden and Congress on deficit spending: The IMF is sounding the alarm about "large fiscal slippages" in the U.S and China.
axios.com/2024/04/19/imf-warning-biden-congress-deficit-spending
Justice Department won’t give Republicans audio tapes of Biden’s interview with special counsel
cnn.com/2024/04/08/politics/doj-biden-interviews-congress/
Quick Glance: Justice Dept. refuses to provide Biden-Hur audio recordings to House committee
- Justice Department officials informed House Republicans that they do not plan to give audio recordings of President Biden's interviews with the special counsel investigating his handling of classified documents.
- The decision was made as lawmakers already possess transcripts of the interviews, indicating that the request may be more about politics than seeking genuine information.
- Special counsel Hur found evidence that Biden retained classified government materials after leaving the vice presidency, but concluded that there was insufficient proof to pursue criminal charges.
- Republican lawmakers have threatened to hold the Attorney General in contempt if the recordings are not handed over, raising concerns about potential implications on future investigations.
After issuing factory capacity warning to China, Yellen faces tariff decisions: U.S. Treasury Secretary Janet Yellen hammered home a stern warning to China's ...
reut.rs/3VVrytY
Opinion | Ukraine Aid and the Tail-Wagger Troupe: They say they want to make Congress work. They insist on rules that ensure it can’t.
wsj.com/articles/the-tail-wagger-troupe-congress-legislators-61263a71
Russia's arrogance grows due to sanctions evasion and delays in Congress – Zelenskyy
pravda.com.ua/eng/news/2024/04/14/7451224/
Quick Glance: Zelensky Condemns Iranian Attack on Israel, Calls for International Support
- President Zelensky condemned Iran's massive attack on Israel, urging international assistance to prevent further escalation in the Middle East.
- Israel reported an attack with 170 drones, 30 cruise missiles, and 120 ballistic missiles, with the majority being intercepted.
- Zelensky emphasized the similarity between attacks in Ukraine and Israel, stressing the need for international unity against terrorism.
- US Congressmen are considering whether to combine or separate aid for Israel and Ukraine in a pending bill, with funding decisions still pending.
Biden exploring if he has the "power" to shut down the border unilaterally
axios.com/2024/04/10/biden-border-immigration-executive-action
TikTok ban bill put on faster track through US Congress: Move to bundle divest-or-ban measure with foreign aid could compel Senate to act against Chinese-owned ...
ft.com/content/c980675b-65a4-4f64-ba5a-dd87fef4f39a
Johnson makes his long-awaited move on Ukraine as House plans to vote on separate aid packages
cnn.com/2024/04/15/politics/house-republicans-israel-ukraine-iran/
Japanese Prime Minister Fumio Kishida addresses joint session of Congress: Watch live
thehill.com/video-clips/4587930-japanese-prime-minister-addresses-congress-watch-live/
Quick Glance: Kishida Warns of Global Risks in US Congress
- Japanese Prime Minister Fumio Kishida emphasizes the need for US support to maintain hope in Ukraine and protect Asia from harsher realities in a speech to the US Congress.
- Kishida urges the US to continue playing a crucial role in international affairs, especially in the face of threats posed by China, Russia, and North Korea.
- Despite support for Kishida's remarks championing a free and open Indo-Pacific, some conservative Republicans remained seated during his call for support for Ukraine's fight against Russia.
- Kishida and President Joe Biden unveiled a list of initiatives to deepen their military cooperation and jointly condemned China's 'dangerous and escalatory' actions in the region.
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