{"id":1930515,"date":"2023-05-13T17:12:23","date_gmt":"2023-05-13T21:12:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-claims-some-areas-of-agreement-have-been-found-in-debt-ceiling-battle\/"},"modified":"2023-05-13T17:14:52","modified_gmt":"2023-05-13T21:14:52","slug":"yellen-claims-some-areas-of-agreement-have-been-found-in-debt-ceiling-battle","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-claims-some-areas-of-agreement-have-been-found-in-debt-ceiling-battle\/","title":{"rendered":"Yellen finds &#8216;some agreement&#8217; in debt ceiling fight."},"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\">16<\/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%2Fyellen-claims-some-areas-of-agreement-have-been-found-in-debt-ceiling-battle%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=1930515&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--><h2>Negotiators Make Headway in Debt Ceiling Deadlock<\/h2>\n<p>Treasury Secretary Janet Yellen has reported progress in the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-claims-some-areas-of-agreement-have-been-found-in-debt-ceiling-battle\/\" title=\"Yellen finds 'some agreement' in <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/even-with-full-control-of-government-democrats-massive-wish-list-is-stalling\/\" title=\"Even With Full Control Of Government, Democrats\u2019 Massive Wish List Is Stalling\">debt ceiling<\/a> fight.&#8221;>ongoing debt ceiling negotiations<\/a>, indicating that both sides have found some common ground in recent days. Despite the postponement of President Joe Biden&#8217;s follow-up meeting with congressional leaders, Yellen remains optimistic that negotiators are making headway.<\/p>\n<h3>Debt Ceiling Deadline Raises Eyebrows Over Biden&#8217;s Negotiation Strategy<\/h3>\n<p>Yellen stated that the meeting with leadership was postponed because negotiators are making progress and want to have something concrete to discuss with the leadership when they meet again. Biden and the &#8220;big four&#8221; congressional leaders are set to hold their postponed talks next week. <\/p>\n<p>House Speaker Kevin McCarthy (R-CA) has demanded any hike in the nation&#8217;s $31.<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/lawmakers-gear-up-for-partisan-showdown-over-debt-limit-in-2023\/\" title=\"Lawmakers Get Ready for a Partisan Showdown over Debt Limit in 2023\">4 trillion borrowing limit<\/a> be paired with spending cuts. Meanwhile, Biden and the Democrats have been adamant that the debt ceiling be lifted without any strings attached and have accused the GOP of holding the nation&#8217;s economy hostage. Democrats have publicly left the door open to separate negotiations on spending.<\/p>\n<h3>Details of the Progress Made<\/h3>\n<p>Yellen did not elaborate on the specifics of the progress made. However, multiple reports have indicated that Biden&#8217;s team is privately talking about a two-year debt limit deal that would impose some caps on discretionary spending and rescind unused COVID-19 funds. Republicans&#8217; Limit, Save, Grow Act debt ceiling proposal, which cleared the House without a vote to spare last month, would raise the borrowing authority by $1.5 trillion or until March 25, 2024 \u2014 whichever comes first.<\/p>\n<h3>The Consequences of Default<\/h3>\n<p>Yellen recently bumped up the timetable to that the U.S. could default on its debt as soon as June 1. The Treasury Department has been undertaking &#8220;extraordinary&#8221; measures of moving money around in hopes of postponing that outcome. Default would erase millions of jobs, trigger a recession, hit retirement accounts, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/janet-yellen-warns-u-s-could-hit-debt-limit-on-december-15\/\" title=\"Janet Yellen Warns U.S. Could Hit Debt Limit on December 15\">increase borrowing costs<\/a>. It&#8217;s not an option,&#8221; Biden tweeted Saturday.<\/p>\n<h3>The Way Forward<\/h3>\n<p>Senate Majority Leader Mitch McConnell (R-KY) has been resolute that the United States will not default despite the impasse. Biden and Yellen have publicly declined to rule out the possibility of circumventing the debt limit via the 14th Amendment, while warning of its pitfalls if used. Many Republicans in Congress have soured on the prospect of backing a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-passes-defense-bill-moves-to-lift-debt-ceiling-after-bipartisan-agreement\/\" title=\"House Passes Defense Bill, Moves To Lift Debt Ceiling After Bipartisan Agreement\">short-term debt limit hike<\/a> if negotiations fail to reach a breakthrough in time.<\/p>\n<h3>Conclusion<\/h3>\n<p>The ongoing debt ceiling negotiations have raised eyebrows over Biden&#8217;s negotiation strategy. However, negotiators have made some headway, and both sides have found some common ground in recent days. The consequences of default are dire, and it&#8217;s essential that a breakthrough is reached before the June 1 deadline. <\/p>\n<ul>\n<li>Use of h2, h3 tags for headings<\/li>\n<li>Use of bold for emphasis<\/li>\n<li>Use of lists for easy readability<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Negotiators have made some headway in the debt ceiling deadlock, according to Treasury Secretary Janet Yellen. Yellen conveyed optimism that both sides have managed to find some common ground in recent days, despite President Joe Biden&#8217;s follow-up meeting with congressional leaders slated for Friday getting postponed. DEBT CEILING DEADLINE RAISES EYEBROWS OVER BIDEN&#8217;S NEGOTIATION STRATEGY<\/p>\n","protected":false},"author":1,"featured_media":1930516,"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":[5877,10142,5487,4004,5029,5286],"class_list":["post-1930515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-agreement","tag-ceiling","tag-debt","tag-fight","tag-some","tag-yellen"],"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\/1930515","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=1930515"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1930515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1930516"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1930515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1930515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1930515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}