Business Maverick: Short-Term Increase in U.S. Debt Ceiling Passes Senate

In a foreshadowing of the pitched battle in store in December, McConnell faced blowback from some members of his party, who said he had caved to the Democrats and others who didn’t want their fingerprints on the deal as they face possible primary challenges next year.

Senator John Thune of South Dakota, the chamber’s No. 2 Republican, said that while there was enough GOP support to let the vote on passage happen, that’s as far as it went. Congress raised the debt ceiling three times while Trump was in office, including in 2019, when it was suspended for two years. “It’s become increasingly damaging to America to have a debt ceiling,” Yellen said. “It’s led to series of politically dangerous conflicts that have caused Americans and global markets to question whether or not America is serious or not about paying its bills. It’s flirting with a self-inflicted crisis.”

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Biden Team Debates IMF Chief’s Fate as Board Reviews ActionsTreasury Department officials are debating whether the U.S., the International Monetary Fund’s largest shareholder, should ask Managing Director Kristalina Georgieva to resign amid an ethics scandal, people familiar with the situation said.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: GM Sets Target for Doubled Revenue, Fatter Margins by 2030General Motors Co. plans to double its revenue by 2030 as the automaker expands its electric-vehicle lineup, builds out an autonomous ride-sharing business offered by Cruise LLC and pushes into subscription-based services in its cars.
Source: dailymaverick - 🏆 3. / 84 Read more »