Donald Trump is demanding the House of Representatives votes on the debt ceiling extension (or abolition) “NOW” so any congressional battle falls in Joe Biden’s presidency and not his.
The president-elect said on Sunday the 2023 debt ceiling extension agreed by then-House Speaker Kevin McCarthy and Biden will “go down as one of the dumbest political decisions made in years.”
Under the deal, the debt ceiling was suspended until January 1, 2025, though the Treasury will be able to pay its bills for several months after that. Congress needs to address the issue by around June.
Without the 2023 deal, the US would have defaulted, roiling financial markets worldwide, and likely leading to a downgrade of the nation’s credit rating.
Meanwhile, Trump hailed the H-1B visa program for skilled workers as “great” claiming to have always been in favor of it.
Speaking to The New York Post, the president-elect sided with Elon Musk and Vivek Ramaswamy, after they both defended the need for hiring skilled workers from overseas.
Their statements triggered pushback from MAGA’s “America First” hardliners, including Steve Bannon. They want strict immigration control, and a furious war of words erupted on social media.
Trump joins tributes to Jimmy Carter, who passed away aged 100
Washington joined in mourning on Sunday after news of former President Jimmy Carter’s death was announced by Chip Carter, his son.
The nation’s 39th president was renowned for his commitment to public service in the years after his exit from political life, and earned a strong reputation for helping America’s neediest families in his post-presidential years. After news of his passing was reported by the Atlanta Journal-Constitution, tributes began to swiftly pour in for the 100-year-old statesman.
Oliver O’Connell30 December 2024 07:15
ICYMI: Bannon mocks ‘toddler’ Musk after he tells X user to ‘f*** yourself’ amid visa feud
As Musk doubled down on his support for H-1B work visas and criticism of American workers, Bannon posted on the social media platform Gettr: “Someone please notify ‘Child Protective Services’— need to do a ‘wellness check’ on this toddler.”
The former Trump adviser and War Room podcast host made the post in reaction to Musk telling a critic of his stance on immigration to “f*** yourself in the face.”
Oliver O’Connell30 December 2024 05:45
Trump’s H-1B take ‘left a lot of people confused’ says Fox host
Here’s how they handled it.
Oliver O’Connell30 December 2024 04:45
Musk backs German far-right party in editorial as paper’s opinion editor resigns
Tech entrepreneur Elon Musk caused uproar after backing Germany’s far-right party in a major newspaper ahead of key parliamentary elections in the Western European country, leading to the resignation of the paper’s opinion editor in protest.
Germany is to vote in an early election on Feb. 23 after Chancellor Olaf Scholz’s three-party governing coalition collapsed last month in a dispute over how to revitalize the country’s stagnant economy.
Sununu claims Musk is too rich to have any conflicts of interest in government
Elon Musk is too rich to care about making more money, a GOP governor claimed during an interview on Sunday.
Chris Sununu made the bold assertion on CNN’s State of the Union as he sat down for an interview with co-host Dana Bash. The New Hampshire Republican is one of the few holdouts in his party who remain in office without fully embracing the MAGA brand — though Sununu has been far more deferential than others like him.
John Bowden reports from Washington, D.C.
Oliver O’Connell30 December 2024 03:15
ICYMI: Trump sides with Musk in MAGA immigration feud
Speaking by phone with The New York Post on Saturday, the president-elect said: “I’ve always liked the visas, I have always been in favor of the visas. That’s why we have them.”
Oliver O’Connell30 December 2024 02:30
Sununu claims Trump has not permanently changed party
Sununu, a moderate Republican, said on CNN’s “State of the Union” Sunday morning that he does not imagine someone will take Trump’s place as leader of the GOP after his term is over.
“Trump is Trump. There’s no ‘Trump-lite.’ There’s no ‘Trump 2.0’ coming up,” he said. “I always say that Trump is who he is because he’s built up himself in the American psyche for 40 years. I mean, really since the 80s.”
When asked by CNN’s Dana Bash if he thinks Trump has permanently changed the party, Sununu replied, “Oh, no. Oh, definitely not.”
Andrea Cavallier has the story.
Oliver O’Connell30 December 2024 01:45
Report: Biden still regrets dropping out of 2024 race and thinks he could’ve won
The outgoing president backed out of the race over the summer following a disastrous first debate against his Republican rival, low approval numbers, and dwindling donations.
But Biden recently told people that despite the issues his campaign faced he is confident he could have defeated Trump in November, sources familiar with the conversations told The Washington Post.
Oliver O’Connell30 December 2024 01:00
Trump attacks ‘dumbest’ 2023 debt limit extension
U.S. President-elect Donald Trump said on Sunday the 2023 debt ceiling extension agreed by then-House Speaker Kevin McCarthy and President Joe Biden will “go down as one of the dumbest political decisions made in years.”
Under the 2023 budget deal, Congress suspended the debt ceiling until Jan. 1, 2025. The U.S. Treasury will be able to pay its bills for several months beyond that deadline, but Congress will have to address the issue, possibly around mid-year.
In a post on Truth Social, Trump said, “The extension of the Debt Ceiling by a previous Speaker of the House, a good man and a friend of mine … will go down as one of the dumbest political decisions made in years.”
He added, “The Democrats must be forced to take a vote on this treacherous issue NOW, during the Biden Administration, and not in June. They should be blamed for this potential disaster, not the Republicans!”
Republicans, however, will control both chambers of Congress beginning on Jan. 3 and at least some of the party’s lawmakers would have to go along with a debt limit increase or elimination in order for it to become law.
Without the 2023 debt limit increase, the United States would have seen a historic default on its debt payments that would have roiled financial markets worldwide.
A debt default would also likely have brought a downgrade in the U.S. credit rating, raising borrowing costs for businesses and individuals.
At the time, several far-right Republicans in the House of Representatives had pushed for deeper federal spending cuts as a condition for raising the debt limit than what had been negotiated.
About a week ago, with U.S. government discretionary funding due to expire on Dec. 20, Trump, encouraged by billionaire Elon Musk, demanded the debt limit either be eliminated or extended, possibly to 2029 when his presidency would end.
That idea was tacked onto an extension of government funding into March, but it was quickly voted down by a coalition of House Democrats and hard-right Republicans, many of whom represent districts in Trump-leaning states.
A government-funding bill without a debt-limit provision was then enacted into law.
Reuters30 December 2024 00:41
Yellen warns Congress ‘extraordinary measures’ will be needed to stop US hitting debt limit
Treasury Secretary Janet Yellen said her agency will need to start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, as early as January 14, in a letter sent to congressional leaders Friday afternoon.
“Treasury expects to hit the statutory debt ceiling between January 14 and January 23,” Yellen wrote in a letter addressed to House and Senate leadership, at which point extraordinary measures would be used to prevent the government from breaching the nation’s debt ceiling — which has been suspended until Jan. 1, 2025.