House Speaker Kevin McCarthy said Tuesday that there has been “no progress” in debt ceiling negotiations between House Republicans and the White House, as the U.S. inches closer to risking a first-ever default..

“We’ve made no progress,” the California Republican told CNBC’s “Squawk Box.” “I’m always an optimist. I’m not now.”

Congress periodically needs to lift the debt limit, the maximum amount the federal government is allowed to borrow, to cover spending obligations. The government often spends more money than it takes in from taxes, resulting in the deficit. House Republicans have refused to lift the debt ceiling without promises of spending cuts.

“Time is ticking,” McCarthy said in the interview. “Now I’m very concerned about where we are.”

The U.S. already hit its debt limit, forcing the Treasury to take so-called extraordinary measures to keep paying its bills.

As McCarthy laments ‘no progress,’ here’s where U.S.. debt ceiling talks stand
MAR 28 2023 Emma Kinery
https://www.cnbc.com/2023/03/28/debt-ceiling-news-mccarthy-says-talks-with-biden-have-made-no-progress.html

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https://www.youtube.com/watch?v=Dz290eWljuo

On 28 Mar 2023 at 13:16:51 CDT, "chromebook test" <chromiumtest56@gmail.com>
wrote:

> House Speaker Kevin McCarthy said Tuesday that there has been “no progress” in
> debt ceiling negotiations between House Republicans and the White House, as
> the U.S. inches closer to risking a first-ever default.

The National Debt is the Lost In Space of American politics: every episode
ends with a cliffhanger.

--
The pain, the pain.