• Latest
  • Trending
US debt ceiling

US debt ceiling talks described as productive but no deal yet

May 23, 2023
Mahama beats Bawumia in Zongos

Mahama beats Bawumia in poll conducted in 7 major Zongo Constituencies

November 30, 2023
Kofi Tutu

Radio station owned by Dep. Edu. Minister allegedly sacks Editor for demanding development in Nyankomasi Ahenkro – Report

November 30, 2023
Henry Kissinger

BREAKING: Former United States secretary of state Henry Kissinger has died aged 100

November 30, 2023
24-hour economic policy

Volta NDC Showcases John Mahama’s24-Hour Economy Policy At 6th Volta Trade and Investment Fair

November 30, 2023
Francis Asenso-Boakye

I was told I had to pay $20,000 bribe to Asenso-Boakye – Businessman alleges

November 30, 2023
Martin Amidu drops key detail on CoP accused of plotting the removal of IGP

A top govt official called me to find out whether Mahama’s brother was arrested in the UK – Martin Amidu

November 30, 2023
2024 budget

Majority MPs stages walkout over Minority insistence for headcount over 2024 budget approval

November 30, 2023
Isaac Minta Larbi

NDC will not start any violence in election 2024 but we will defend ourselves very well if attacked – Lawyer Minta Larbi Responds to Akufo-Addo

November 30, 2023
Coup in Sierra Leone

Attempted Coup in Sierra Leone; Government Imposes Nationwide Curfew

November 26, 2023
Christian Nsiah Aboagye

KNUST Master’s student dies hours before his graduation

November 24, 2023
2024 budget

Parliament suspends L.I. seeking to restrict importation of tripe, 21 other products

November 24, 2023
Fifi Fiavi Kwetey

NPP should be ‘super remorseful’ for messing up the economy – Fifi Kwetey

November 24, 2023
  • HOME
  • POLITICS
  • GENERAL NEWS
  • INTERNATIONAL NEWS
  • SCHOLARSHIP
  • OPINION
  • JOBS
  • SPORTS
  • Entertainment
InsiderGH.com
  • HOME
  • POLITICS
  • GENERAL NEWS
  • INTERNATIONAL NEWS
  • SCHOLARSHIP
  • OPINION
  • JOBS
  • SPORTS
  • Entertainment
No Result
View All Result
  • HOME
  • POLITICS
  • GENERAL NEWS
  • INTERNATIONAL NEWS
  • SCHOLARSHIP
  • OPINION
  • JOBS
  • SPORTS
  • Entertainment
No Result
View All Result
InsiderGH.com
No Result
View All Result
ADVERTISEMENT
Home INTERNATIONAL NEWS

US debt ceiling talks described as productive but no deal yet

May 23, 2023
in INTERNATIONAL NEWS
Reading Time: 3 mins read
0
US debt ceiling
Kindly share

US President Joe Biden and top Republican Kevin McCarthy have called their latest talks on the debt ceiling productive but no deal has yet been reached.

“I believe we can get a deal done,” House Speaker McCarthy told reporters.

While acknowledging areas of disagreement, Mr Biden said a default was “off the table”.

Related Posts

  • US debt ceiling: Joe Biden and Kevin McCarthy seek…
  • US debt ceiling: Biden and Republicans hopeful of a deal
  • Ghana’s public debt increases to GH₵575.5bn

The debt ceiling is a spending limit set by Congress which determines how much money the government can borrow.

Failure to raise it beyond the current cap of roughly $31.4tn (£25.2tn) by June could result in the US defaulting on its debt.

That would mean the government could not borrow any more money or pay all of its bills. It would also threaten to wreak havoc on the global economy, affecting prices and mortgage rates in other countries.

Republicans, led by Mr McCarthy, have been demanding more than $4tn spending cuts in return for raising the ceiling. Democrats have refused and instead are offering to keep spending flat.

Treasury Secretary Janet Yellen has reiterated that the US will likely default on its debt as early as 1 June if no deal is reached.

The tone of the talks at the White House appeared to be more optimistic after weeks of divisive partisan discourse. But it is unclear how quickly the two sides can reach a deal.

“We don’t have an agreement yet,” Mr McCarthy said. “But I did feel the discussion was productive in areas that we have differences of opinion.”

“Biden and I will talk everyday until we get this done,” he said.

Earlier, the House speaker emphasised that a deal needed to be reached this week to give Congress adequate time to meet the 1 June deadline.

He estimated it would take about 72 hours for the agreement to be written, read and voted on.

Treasury Secretary Janet Yellen issued a warning letter to Congress on Monday maintaining that the US would likely run out of money to pay its bills as early as 1 June without a debt limit increase.

She heightened the urgency and called the possibility of a default in early June “highly likely”.

“If Congress fails to increase the debt limit, it would cause severe hardship to American families,” her statement read.

Both Mr Biden and Mr McCarthy are under pressure from the left and right flanks of their respective parties to hold the line.

With a one-seat Democratic majority in the Senate and Republicans in narrow control of the House, a deal has so far proven elusive.

Tags: Joe BidenKevin McCarthyUS debt ceiling
Previous Post

WhatsApp to allow users to edit messages within 15 minutes

Next Post

Ethiopia’s Prince Alemayehu: Buckingham Palace rejects calls to return royal’s body

Related Posts

Henry Kissinger
INTERNATIONAL NEWS

BREAKING: Former United States secretary of state Henry Kissinger has died aged 100

November 30, 2023
Coup in Sierra Leone
INTERNATIONAL NEWS

Attempted Coup in Sierra Leone; Government Imposes Nationwide Curfew

November 26, 2023
Annabel Giles
INTERNATIONAL NEWS

Annabel Giles dies after brain tumor diagnosis

November 22, 2023
hostage deal
INTERNATIONAL NEWS

Israel’s cabinet votes on hostage deal as Netanyahu says war will continue

November 22, 2023
George Weah
INTERNATIONAL NEWS

FULL SPEECH: President George Weah concedes defeat to Joseph Boakai

November 19, 2023
David Cameron
INTERNATIONAL NEWS

David Cameron to return to cabinet table after seven years

November 14, 2023
Next Post
Ethiopia's Prince Alemayehu: Buckingham Palace rejects calls to return royal's body

Ethiopia's Prince Alemayehu: Buckingham Palace rejects calls to return royal's body

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

  • Trending
  • Comments
  • Latest
Congo coup

BREAKING: Coup underway in Congo-Brazzaville while 79-year-old President  is in the US for UN Summit

September 17, 2023
Gabon coup

BREAKING:Senior Military Officers Announce Coup in Gabon After Rigged Presidential Election

August 30, 2023
Mahama wins NDC presidential race

BREAKING: Mahama officially declares intention to contest for presidency

February 21, 2023
Alan Kyerematen and Akufo-Addo snub each other at Theresa Kufuor’s one-week

Alan Kyerematen and Akufo-Addo snub each other at Theresa Kufuor’s one-week

October 12, 2023
soldiers at ashaiman

Ashaiman: More than 72 people arrested by soldiers – Ashaiman MP

March 7, 2023
Rayzone Group

Government paid $2M to Israeli firm for spy work in 2021- Report

August 2, 2023
NDC Primaries: Ten under 40 MP aspirants to watch

NDC Primaries: Ten under 40 MP aspirants to watch

February 14, 2023
National Cathedral

Okudzeto Ablakwa Drops Bombshell; Publishes The Mother Of All National Cathedral Scandals

January 16, 2023
Rayzone Group

Government paid $2M to Israeli firm for spy work in 2021- Report

197
Cecilia Dapaah

Cecilia Dapaah: Hotelier, ex-Bantama MP, former Minister mired in a money heist

18
Bagbin

Gyakye Quayson’s daily trial ‘selective and wrong’ – Bagbin

13
If you had good intentions for NDC, you would have engaged party elders – Zita to Duffour

If you had good intentions for NDC, you would have engaged party elders – Zita to Duffour

13
NDC Parliamentary Primaries

BREAKING: NDC Changes Its Leadership In Parliament

10
Supreme Court turned into Stupid Court comment: I’m not talking of Ghana’s judiciary – Kpessa-Whyte clarifies

Supreme Court turned into Stupid Court comment: I’m not talking of Ghana’s judiciary – Kpessa-Whyte clarifies

9
Ablakwa

How Adom-Otchere triggered Ablakwa to release latest set of allegations against Rev. Kusi Boateng

9
NDC has been the best since Ghana's independence – Dr. Duffuor

Duffuor calls for postponement of NDC primaries

8
Mahama beats Bawumia in Zongos

Mahama beats Bawumia in poll conducted in 7 major Zongo Constituencies

November 30, 2023
Kofi Tutu

Radio station owned by Dep. Edu. Minister allegedly sacks Editor for demanding development in Nyankomasi Ahenkro – Report

November 30, 2023
Henry Kissinger

BREAKING: Former United States secretary of state Henry Kissinger has died aged 100

November 30, 2023
24-hour economic policy

Volta NDC Showcases John Mahama’s24-Hour Economy Policy At 6th Volta Trade and Investment Fair

November 30, 2023
Francis Asenso-Boakye

I was told I had to pay $20,000 bribe to Asenso-Boakye – Businessman alleges

November 30, 2023
Martin Amidu drops key detail on CoP accused of plotting the removal of IGP

A top govt official called me to find out whether Mahama’s brother was arrested in the UK – Martin Amidu

November 30, 2023
2024 budget

Majority MPs stages walkout over Minority insistence for headcount over 2024 budget approval

November 30, 2023
Isaac Minta Larbi

NDC will not start any violence in election 2024 but we will defend ourselves very well if attacked – Lawyer Minta Larbi Responds to Akufo-Addo

November 30, 2023

KINDLY SUBSCRIBE TO INSIDERGH TV

CLICK HERE TO SUBSCRIBE TO OUR YOUTUBE CHANNEL

Recent News

Mahama beats Bawumia in Zongos

Mahama beats Bawumia in poll conducted in 7 major Zongo Constituencies

November 30, 2023
Kofi Tutu

Radio station owned by Dep. Edu. Minister allegedly sacks Editor for demanding development in Nyankomasi Ahenkro – Report

November 30, 2023
Henry Kissinger

BREAKING: Former United States secretary of state Henry Kissinger has died aged 100

November 30, 2023
24-hour economic policy

Volta NDC Showcases John Mahama’s24-Hour Economy Policy At 6th Volta Trade and Investment Fair

November 30, 2023

InsiderGH.com

InsiderGH.com

InsiderGH.com is the fastest growing socio-political news portal in Ghana. Get all breaking news updates, latest news headlines, local and international stories, showbiz, lifestyle etc.

Follow Us

Browse by Category

  • Apps
  • BIOGRAPHY
  • Business
  • Entertainment
  • Fashion
  • Food
  • Gadget
  • Gaming
  • GENERAL NEWS
  • Health
  • INTERNATIONAL NEWS
  • Lifestyle
  • Mobile
  • Movie
  • Music
  • News
  • OPINION
  • POLITICS
  • Review
  • SCHOLARSHIP
  • Science
  • SPORTS
  • Startup
  • Tech
  • Travel
  • World

Pages

  • ABOUT US
  • CONTACT US
  • COOKIE POLICY (EU)
  • DISCLAIMER
  • HOME
  • PRIVACY POLICY
  • Terms and Conditions
  • TERMS OF USE

Copyright © 2020 - 2023, InsiderGH.com. All rights reserved.

No Result
View All Result
  • HOME
  • POLITICS
  • GENERAL NEWS
  • INTERNATIONAL NEWS
  • SCHOLARSHIP
  • OPINION
  • JOBS
  • SPORTS
  • Entertainment

Copyright © 2020 - 2023, InsiderGH.com. All rights reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Policy and Cookie Policy.