{"id":1911066,"date":"2023-04-07T01:25:43","date_gmt":"2023-04-07T05:25:43","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/investors-should-be-worried-about-debt-ceiling-deadlock-house-speaker\/"},"modified":"2023-04-07T01:29:48","modified_gmt":"2023-04-07T05:29:48","slug":"investors-should-be-worried-about-debt-ceiling-deadlock-house-speaker","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/investors-should-be-worried-about-debt-ceiling-deadlock-house-speaker\/","title":{"rendered":"Investors Should Be Worried About Debt Ceiling Deadlock: House Speaker"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finvestors-should-be-worried-about-debt-ceiling-deadlock-house-speaker%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1911066&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"post_content\">\n<div class=\"aplayer_app\" data-source=\"https:\/\/vs1.youmaker.com\/assets\/2023\/0406\/56fc055f-9ad7-4603-8404-fd5c1e3d30e0\/audio.mp3?length=3768525&#038;duration=314\"><\/div>\n<\/p>\n<p>House Speaker Rep. Kevin McCarthy (R-Calif.) expressed his concern on Wednesday that investors should worry about the deadlock in Washington over raising the debt ceiling. As the United States moves closer to a possible debt default, it has been warned by both Democrats and Republicans that it will be terrible for the economy.<\/p>\n<p>McCarthy shared in an interview with Bloomberg TV on Wednesday that he is &#8220;very concerned&#8221; about President Joe Biden\u2019s refusal to negotiate with Republicans about cutting government spending in exchange for GOP support to raise the debt ceiling.<\/p>\n<p>&#8220;Unfortunately, I tried to sit down with the president, and the president doesn&#8217;t want to communicate,&#8221; McCarthy said. He added that since a meeting with Biden on Feb. 1, the only form of communication on the debt ceiling between the two has been through letters.<\/p>\n<p>Republicans have been working on a proposal to reduce the deficit, and McCarthy suggested that after Congress returns from recess later this month, there may be &#8220;some news&#8221; regarding this matter.<\/p>\n<p>When asked whether he plans to speak to investors about the GOP proposal to reassure markets, McCarthy stated that Wall Street is right to be worried.<\/p>\n<p>&#8220;They should be concerned,&#8221; McCarthy said, adding that since Biden hasn&#8217;t wanted to meet, communication between the two is &#8220;just these letters.&#8221;<\/p>\n<h2>McCarthy and Biden Trade Jabs<\/h2>\n<p>In his letter to the president, McCarthy warned that Biden\u2019s refusal to negotiate spending cuts to get GOP backing on raising the debt ceiling &#8220;could prevent America from meeting its obligations and hold dire ramifications for the entire nation.&#8221;<\/p>\n<p>&#8220;With each passing day, I am incredibly concerned that you are putting an already fragile economy in jeopardy by insisting upon your extreme position of refusing to negotiate any meaningful changes to out-of-control government spending alongside an increase of the debt limit,&#8221; McCarthy wrote.<\/p>\n<p>Biden replied to McCarthy, saying that he\u2019s prepared to consider Republican proposals for spending cuts as part of a budget plan but that such discussions must be separate from &#8220;prompt action on the Congress&#8217; basic obligation to pay the nation&#8217;s bills and avoid economic catastrophe.&#8221;<\/p>\n<p>Failure to reach an agreement over the debt ceiling could lead to a default on U.S. debt obligations, an outcome that many economists have warned would be disastrous.<\/p>\n<p>Rather than negotiating with the GOP on spending cuts as part of raising the debt ceiling, Biden and his Democrat allies in Congress have demanded that Republicans make their spending-cut proposals public.<\/p>\n<p>&#8220;I shared my budget with the American people on March 9, 2023,&#8221; the president wrote in the letter. &#8220;My hope is that House Republicans can present the American public with your budget plan before Congress leaves for the Easter recess so that we can have an in-depth conversation when you return,&#8221; Biden added.<\/p>\n<h2>&#8220;Pretty Good Negotiating Tactic&#8221;<\/h2>\n<p>McCarthy has so far declined to present the GOP budget proposal, and Republicans h<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>House Speaker Rep. Kevin McCarthy (R-Calif.) said Wednesday that investors should be worried about the deadlock in Washington over raising the debt ceiling as the United States inches closer to a possible debt default, which both Democrats and Republicans have warned would be terrible for the economy. McCarthy told Bloomberg TV in an interview Wednesday<\/p>\n","protected":false},"author":118,"featured_media":1911067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[10142,13410,5487,3653,5311,5654,5622],"class_list":["post-1911066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-ceiling","tag-deadlock","tag-debt","tag-house","tag-investors","tag-speaker","tag-worried"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1911066","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1911066"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1911066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1911067"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1911066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1911066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1911066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}