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
Israeli media outlet: Security incident reported in the Gaza Strip
Iranian Foreign Ministry spokesperson: No new date or venue has been set for the meeting between Araghchi and Witkoff, and no negotiations will take place until the outcome is guaranteed
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

US GOP negotiator: Debt ceiling to reach deal within 'hours or days'

  • By Al-Mayadeen English
  • Source: Agencies
  • 27 May 2023 20:56
2 Min Read

McHenry confirms that the extensive list that had a number of issues to be taken care of had been lessened to just a few as he shows signs of coming close to a deal on the debt ceiling.

  • x
  • US House Speaker Kevin McCarthy with reporters at the Capitol, in Washington DC, on May 26, 2023.
    US House Speaker Kevin McCarthy with reporters at the Capitol, in Washington DC, on May 26, 2023 (Reuters)

North Carolina Rep and Republican negotiator in the US debt ceiling talks, Patrick McHenry, expressed that a deal may be near on raising the borrowing limit with the White House. 

"It's hours or days, and I don't know when," the representative told reporters in Washington, adding that the number of issues to be taken care of had been lessened to just a few. 

"We've had a long list for a long time. What I didn't anticipate is we'd have a very short list for a very long time," he stated.

This update follows after Treasury Secretary Janet Yellen confirmed on Friday that the deadline to reach a deal was pushed back to June 5 rather than June 1.

The Treasury hit the borrowing limit in January, and since then, it has been taking "extreme measures" to pay its debt. The Fitch credit rating agency has even put the country on watch on Wednesday for a possible downgrade over a risk of default amid a government impasse on raising the national borrowing limit. 

Related News

A true American horror story: The debt deal and the future of the US

Debt ceiling bill overwhelmingly passes US House

Fitch said the AAA rating "reflects increased political partisanship that is hindering reaching a resolution to raise or suspend the debt limit" ahead of a looming deadline.

President Joe Biden said on Friday that "It's very close and I'm optimistic", adding that "I'm hopeful we'll know by tonight whether we're going to be able to have a deal."

Read more: Failure to reach deal on US debt limit to result in contraction: IMF

Yellen told Congressional leaders that "Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government's obligations if Congress has not raised or suspended the debt limit by June 5."

The United States is rapidly closing in on total financial chaos, as the two ruling parties have failed so far to reach a borrowing ceiling consensus.

McCarthy and Biden said Monday in their first one-on-one talks in months to avoid a calamitous debt default were "productive", but disagreements were still blocking any possible deal. 

The #US is at risk of defaulting next month if the debt ceiling problem isn't resolved, and negotiations are at a stalemate, meaning a solution is not likely to be reached soon regarding the issue. pic.twitter.com/kFyvVHhrU8

— Al Mayadeen English (@MayadeenEnglish) May 20, 2023

  • debt default
  • debt ceiling
  • Patrick McHenry
  • US
  • Kevin McCarthy
  • Joe Biden
  • US House Speaker

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