{"id":1922789,"date":"2023-05-02T11:27:21","date_gmt":"2023-05-02T15:27:21","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-dare-republicans-to-game-of-chicken-with-debt-ceiling-crisis-talks\/"},"modified":"2023-05-02T11:31:34","modified_gmt":"2023-05-02T15:31:34","slug":"democrats-dare-republicans-to-game-of-chicken-with-debt-ceiling-crisis-talks","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-dare-republicans-to-game-of-chicken-with-debt-ceiling-crisis-talks\/","title":{"rendered":"Democrats dare Republicans to game of chicken with debt ceiling crisis talks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/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%2Fdemocrats-dare-republicans-to-game-of-chicken-with-debt-ceiling-crisis-talks%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=1922789&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--><div>\n<h2>Debt Ceiling Talks: Will the US Default?<\/h2>\n<p>The window to avert a default on the nation&#8217;s debt is closing, but neither side is showing a willingness to cave on <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/debt-ceiling\" target=\"_blank\" rel=\"noopener\">debt ceiling<\/a> talks. <\/p>\n<p>Treasury Secretary <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/janet-yellen\" target=\"_blank\" rel=\"noopener\">Janet Yellen<\/a> sent shock waves through the Beltway on Monday by revealing the timeline to default got bumped up. Although President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joe-biden\" target=\"_blank\" rel=\"noopener\">Joe Biden<\/a> and House Speaker <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/kevin-mccarthy\" target=\"_blank\" rel=\"noopener\">Kevin McCarthy<\/a> (R-CA) are set to meet next week, Congress appears to be struggling to break the stalemate. <\/p>\n<p><b><a href=\"https:\/\/www.washingtonexaminer.com\/news\/house\/mccarthy-agrees-speak-biden-debt-ceiling\" target=\"_blank\" rel=\"noopener\">MCCARTHY AGREES TO SPEAK WITH BIDEN ON DEBT CEILING: REPORT<\/a><\/b><\/p>\n<p>Biden made calls to all four congressional leaders Monday, and McCarthy agreed to sit down on May 9. The pair haven&#8217;t met since February. <\/p>\n<p>Even though they finally agreed to talk, their <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-dare-republicans-to-game-of-chicken-with-debt-ceiling-crisis-talks\/\" title=\"Democrats dare Republicans to game of chicken with debt ceiling crisis talks\">differences remain stark<\/a>. The White House has been clear that Biden won&#8217;t negotiate on hiking the debt limit, while McCarthy has insisted it be paired with spending reductions. <\/p>\n<p>Now, Democrats in the Senate are beginning to talk about introducing a bill to force a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brian-darling-stopping-a-clean-debt-limit-hike-is-an-early-test-for-republican-leadership\/\" title=\"Brian Darling: Stopping a Clean Debt Limit Hike Is an Early Test for Republican Leadership\">clean debt limit hike<\/a> despite appearing not to have 60 votes. Senate Minority Leader <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/mitch-mcconnell\" target=\"_blank\" rel=\"noopener\">Mitch McConnell<\/a> (R-KY) has stepped back and said he will let McCarthy take the lead in negotiations with the White House. <\/p>\n<p>The Limit, Save, Grow Act, which cleared the House last week, was roundly rejected by Democrats, who appear unable to pass a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrats-to-raise-debt-ceiling-by-2-5-trillion-with-funding-to-reach-past-2022-midterms\/\" title=\"Democrats to Raise Debt Ceiling by .5 Trillion\u00a0with Funding to Reach Past 2022 Midterms\">debt limit bill<\/a> that meets their standards of no strings attached. <\/p>\n<h3>Stalemate Continues<\/h3>\n<ul>\n<li>Underlying the Democrats&#8217; position are fears that caving to Republican demands would embolden them to leverage the debt ceiling in the future.<\/li>\n<li>Meanwhile, Republicans believe the debt ceiling shouldn&#8217;t be a rubber stamp and that now is the time to reform the country&#8217;s messy finances.<\/li>\n<li>With the exception of Sen. <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joe-manchin\" target=\"_blank\" rel=\"noopener\">Joe Manchin<\/a> (D-WV), members of both parties largely appear locked into their positions, with prominent Republicans declining to buck McCarthy.<\/li>\n<\/ul>\n<p>The United States hit the $31.<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/terry-paulson-time-to-build-public-support-for-debt-limit-demands\/\" title=\"Terry Paulson: Time to Build Public Support for Debt Limit Demands\">4 trillion debt limit<\/a> in January, but the Treasury Department has been undertaking &#8220;extraordinary measures&#8221; to keep funds flowing. Yellen initially estimated it would last until around June 5 but expedited that projection to June 1 on Monday. <\/p>\n<p>In tandem with that, the Congressional Budget Office, which previously pegged the timeline between July and September, moved its time frame up to early June. <\/p>\n<p>Given the fact that budgeting for this fiscal year has leaned on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/republicans-seek-to-raise-debt-limit-until-may-2024-as-gop-proposal-begins-to-take-shape-report\/\" title=\"Republicans seek to raise debt limit until May 2024 as GOP proposal begins to take shape: Report\">considerable deficit spending<\/a>, the U.S. will be unable to fund all its discretionary programs when the &#8220;extraordinary measures&#8221; run out. Of top concern is the interest on the debt. <\/p>\n<p><b><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/b><\/p>\n<p>No one knows exactly how a default would play out, but history indicates it would be ruinous for the economy. One projection <a href=\"https:\/\/realeconomy.rsmus.com\/what-would-happen-if-the-government-defaults-on-its-debt\/\" target=\"_blank\" rel=\"noopener\">cited by RSM International<\/a> in March found that a technical default could boost unemployment to 7%, and an actual one could rocket unemployment to 12% while causing over a 10% economic contraction.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Debt Ceiling Talks: Will the US Default? The window to avert a default on the nation&#8217;s debt is closing, but neither side is showing a willingness to cave on debt ceiling talks. Treasury Secretary Janet Yellen sent shock waves through the Beltway on Monday by revealing the timeline to default got bumped up. Although President &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1922790,"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":[538],"tags":[10142,14754,6170,5487,3685,6528,3756,3745],"class_list":["post-1922789","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-ceiling","tag-chicken","tag-crisis","tag-debt","tag-democrats","tag-game","tag-republicans","tag-talks"],"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\/1922789","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1922789"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1922789\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1922790"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1922789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1922789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1922789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}