When asked whether or not his party would back a debt ceiling compromise reached by Republicans and the White House, House Minority Leader Hakeem Jeffries was evasive.
The Act, announced last week by House Speaker Kevin McCarthy (R-CA), is the GOP’s first attempt to bring Democrats and the Biden administration to the table after little movement in the previous three months. It would raise the debt ceiling by $1.5 trillion, or until March 31, 2020, whichever comes first.
Several Republicans, notably Steve Bannon and Lou Dobbs, are warning that the Democrats are arranging for the stock market to collapse on the day House Republicans vote not to raise the debt ceiling. It is believed the Biden Administration will declare a temporary “default” on U.S. debt, the stock and bond markets will collapse, and Republicans will be blamed.
Based on Internal Revenue Service data, tax collections under President Biden have skyrocketed compared to those under former President Donald Trump. Biden has also increased tax enforcement efforts.
several prominent Republican politicians and organizations representing the energy business lashed out at the Biden administration for announcing stringent new restrictions that will crack down on pollution from gasoline-powered vehicles.
Is this the end of the dollar? Or at least the dollar as it exists today. Because the dollar is currently considered the world’s reserve currency, central banks, and foreign corporations have held significant amounts of it to settle international trade and financial transactions since the end of World War II. In recent years, the dollar has strengthened against other major currencies, such as the Japanese yen and the British pound, as other countries struggled to recover from the lockdown-induced recession.
Under the presidency of Joe Biden, the relationship with Saudi Arabia has deteriorated. On Sunday, Saudi Arabia announced that it would lead OPEC, the Organization of the Petroleum Exporting Countries, including Russia, to reduce production by over one million barrels per day beginning next month. The result would be higher gas prices in the U.S. will most likely lead to higher inflation.
According to a leaked internal calendar, Transportation Secretary Pete Buttigieg and his husband, Chasten Buttigieg, flew on a military plane to Europe last spring so that they could attend the Fifth Invictus Games.