Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian platforms: Settlers storm Al-Aqsa Mosque complex under the protection of the occupation police
Palestinian platforms: The IOF detonated a booby-trapped robot east of the al-Zaytoun neighborhood, south of Gaza City
Syrian Defense: We call on all parties in Sweida to cooperate with security forces and exercise restraint
Al Mayadeen's correspondent: The Lebanese Army is continuing its investigations and will later announce any information that does not affect the confidentiality of the investigation
Al Mayadeen's correspondent: It has not yet been determined whether the detainees belong to ISIS or another organization
Al Mayadeen's correspondent: Around 10 people of different nationalities, including Lebanese nationals, were detained
Al Mayadeen's correspondent: The Lebanese army arrested a number of people in the Matn area of Mount Lebanon with possession it has not disclosed
Gaza Civil Defense spokesman: We have strong indications that there are martyrs, injuries, and trapped people in the Salah al-Din area
Gaza Civil Defense spokesman: Citizens should avoid Salah al-Din Street because anyone who approaches it is at risk of being directly targeted
Gaza Civil Defense spokesman: Reality is that there is a very limited retreat of the vehicles, with the occupation forces providing cover undeer fire up to Salah al-Din Street

Republicans pause debt talks, White House cites 'real differences'

  • By Al Mayadeen English
  • Source: Agencies
  • 19 May 2023 22:28
3 Min Read

Amid a growing rift, no deal has yet been achieved to avert the expected economic crisis.

  • x
  •  President Joe Biden gestures as he boards Air Force One at Andrews Air Force Base, Md., Wednesday, May 17, 2023, as he heads to Hiroshima, Japan to attend the G-7. (AP)
    President Joe Biden gestures as he boards Air Force One at Andrews Air Force Base, Md., Wednesday, May 17, 2023, as he heads to Hiroshima, Japan, to attend the G7 (AP)

House Speaker Kevin McCarthy said Friday that Republicans have paused crunch US debt default talks less than two weeks before a potentially catastrophic default, citing a lack of movement from Democrats. 

"We've got to pause," the Republican leader told journalists in Congress, adding, "We can't be spending any more money next year."

Negotiators for President Joe Biden have been meeting with Republicans in an attempt to reach an agreement on raising the US borrowing limit and allowing the country to pay its existing debts.

Republicans continue to insist that Biden agrees to spend cutbacks in exchange for their support for raising the debt ceiling, despite Democratic requests for a "clean" rise in the borrowing limit with no strings attached.

Democrats have framed the talks as a chance to tackle the upcoming budget ahead of June 1, when the Treasury foresees that the United States could start defaulting on its debts if Congress does not act.

The White House indicated on Friday that serious disagreements between the two parties over the budget persisted.

Related News

Gallup poll reveals major shift in GOP immigration attitudes: Newsweek

Musk blasts Trump’s spending bill advanced by GOP-controlled Senate

"There are real differences between the parties on budget issues and talks will be difficult," a White House official said in a statement, adding, "The President's team is working hard towards a reasonable bipartisan solution that can pass the House and the Senate."

Joe Biden, who is in Japan for the G7 summit of international leaders, is cutting his trip short and coming to Washington on Sunday to attempt to reach an agreement.  

Congress inaction on debt ceiling threatens US economy: Treasury

Deputy Secretary of the Treasury Wally Adeyemo said last Wednesday the US Congress' inaction in enabling the US to meet its obligations by raising the debt ceiling is the "greatest threat" to the US economy since the global pandemic. 

"The single greatest threat to the progress the American economy has made since the pandemic is Congress’s failure to take action to meet the United States’s obligations," Adeyemo said at the National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) 2023 Business Summit.

He further warned that failing to raise the debt ceiling would lead up to a recession and would severely impact small businesses and trigger a massive wave of company closures. 

"Congress must take action to raise the debt limit and do what is needed to protect families and small businesses, as it has done nearly 80 times before. It is the only way to maintain the economic progress we’ve made," he said.

Last week, the US Congressional Budget Office warned that if lawmakers fail to raise the amount of debt the country is legally allowed to build up, the US will be faced with a "significant risk" of defaulting within the first two weeks of June.

Read more: US not to default, agreement on raising debt ceiling nearing: Biden

  • Republican Party
  • debt default
  • debt ceiling
  • Democratic Party
  • US
  • Biden

Most Read

Hezbollah SG reveals war details on Al Mayadeen for the first time

Hezbollah SG reveals war details on Al Mayadeen for the first time

  • Politics
  • 8 Jul 2025
Major ambush in Gaza kills 6 Israeli troops, injures dozens

Major ambush in Gaza kills 5 Israeli troops, injures 14

  • Politics
  • 8 Jul 2025
Israeli soldiers are seen in Beit Hanoun ahead of an operation by the al-Qassam Brigades, undated (Al-Qassam Brigades Military Media)

'Israel' on blast as media exposes report discrepancies in Gaza ambush

  • Palestine
  • 8 Jul 2025
Yemen Navy sinks ETERNITY C ship, shares footage of operation

Yemen Navy sinks ETERNITY C ship, shares footage of operation

  • Politics
  • 9 Jul 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
The Freedom Flotilla ship Handala as it departs for Gaza, where it aims to break the maritime blockade at a port in Syracuse, Sicily in southern Italy on July 13, 2025. (AFP)
Palestine

Freedom Flotilla's Handala departs Sicily in bid to break Gaza siege

The container ship CMA CGM Laperouse, left, docks at the Georgia Ports Authority's Port of Savannah, Sept. 29, 2021, in Savannah, Ga (AP)
Politics

US shipbuilding woes deepen as tariffs, outdated policies backfire

Gaza war raises ethical questions for ex-Obama, Biden officials
Politics

Mercenary firm tied to Gaza war crimes hires Obama-Biden PR operatives

'Israel' targets children in Gaza collecting water
Palestine

'Israel' strikes Gaza kids fetching water, blames it on 'malfunction'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS