House Speaker Kevin McCarthy mockingly comments on President Joe Biden’s age during a meeting, insinuating that his use of note cards is due to his old age. The use of note cards, however, is beneficial to people of all ages in recalling important points and preparing for expected questions. It’s common practice among political leaders …
Yesterday was a disastrous day for House Republicans and their struggling leader, Speaker Kevin McCarthy. In the morning, McCarthy had to cancel a procedural vote on a GOP proposal to prevent a government shutdown at the end of the month. In the afternoon, conservatives blocked McCarthy’s attempt to advance legislation funding the Pentagon. The failure …
Former Treasury Secretary Larry Summers criticized Fitch’s recent decision to downgrade the United States’ sovereign credit rating as “bizarre and inept.” Summers took to Twitter to express his disbelief at Fitch’s move, especially considering the positive state of the economy. Fitch cited the nation’s growing debt burden and political dysfunction as reasons for the downgrade, …
Ratings agency Fitch made a significant decision on Tuesday by downgrading the US government’s credit rating from AAA to AA+. The agency cited concerns over the expected fiscal deterioration in the next three years and the increasing general government debt burden. As a result of the downgrade, the value of the dollar declined. It’s worth …
During a recent debate in the U.S. House over a budget bill aimed at reducing the deficit, lawmakers emphasized the importance of considering the future. They pleaded with their colleagues to think about the impact on future generations and the national debt. These concerns echo similar sentiments expressed almost 30 years ago during a debate …
One of the key elements in the White House’s agreement with Republicans to fund the federal government and avoid a catastrophic default on U.S. debt payments involves the completion of a partially-built pipeline intended to transport natural gas from West Virginia to the East Coast. This provision has created a divide among Democrats, including progressive …
The ongoing debt-ceiling crisis appears strikingly similar to the 2011 clash between congressional Republicans and former President Barack Obama. Once again, the GOP majority in the House is using the threat of a national default to pressure a first-term Democratic president to agree to spending cuts in exchange for raising the federal borrowing limit. A …
Even amidst fiscal tightening, cancer research has managed to secure bipartisan support in Congress and has made significant advancements in fighting the disease thanks to funding from both the government and private sector. Lawrence Gostin, a professor of global health law at Georgetown University Law School, states that cancer research has transcended political boundaries. However, …
You may have been hearing a lot about the national debt ceiling and the potential consequences if it isn’t raised by June 5th. Experts are warning that failing to raise the debt ceiling could result in a deep recession, both for the U.S. and other countries around the world. It could even lead to a …
The Federal Reserve has decided to pause on raising rates, breaking a streak of 15 consecutive increases. This change could bring some relief to consumers who have been dealing with higher mortgage, credit card, and loan costs due to the previous rate hikes. Since the Fed began raising rates in 2022 to combat inflation, the …