{"id":1939536,"date":"2023-05-27T15:57:23","date_gmt":"2023-05-27T19:57:23","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-teases-deal-on-debt-ceiling-says-he-is-very-optimistic\/"},"modified":"2023-05-27T16:02:22","modified_gmt":"2023-05-27T20:02:22","slug":"biden-teases-deal-on-debt-ceiling-says-he-is-very-optimistic","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-teases-deal-on-debt-ceiling-says-he-is-very-optimistic\/","title":{"rendered":"Biden optimistic about debt ceiling deal."},"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\">12<\/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%2Fbiden-teases-deal-on-debt-ceiling-says-he-is-very-optimistic%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=1939536&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>President Biden Says Debt Ceiling Agreement is &#8220;Very Close&#8221;<\/h2>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">U.S. President Joe Biden speaks to the media before departing the White House in Washington<\/figcaption><\/figure>\n<p>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/daniel-baldwin\">Daniel Baldwin<\/a><br \/>9:31 AM \u2013 Saturday, May 27, 2023<\/p>\n<p>President Joe Biden says an agreement on the debt ceiling is \u201cvery close\u201d as he left for Camp David Friday.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">\n  <script>googletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });<\/script>\n<\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWith regard to the debt limit, things are looking good,\u201d Biden said before boarding Marine One.<br \/>\u201cI\u2019m very optimistic.\u201d<\/p>\n<\/blockquote>\n<p>Biden\u2019s comments came after Treasury Secretary Janet Yellen pushed back the deadline for a possible United States default to Monday, June 5th \u2013 four days later than expected.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWe know it\u2019s a crunch time,\u201d House Speaker Kevin McCarthy (R-Calif.) said. \u201cWe know it\u2019s not easy, but\u00a0 we\u2019re not just trying to get an agreement. We\u2019re trying to get something that\u2019s worthy of the American people.\u201d<\/p>\n<\/blockquote>\n<p>Yellen <a href=\"https:\/\/home.treasury.gov\/system\/files\/136\/Debt-Limit-Letter-to-Congress-Members-20230526-McCarthy.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">said<\/a> the Treasury must make $130 billion in payments to Social Security, Medicare, and veterans during the first week of June. She claimed the government\u2019s resources would be \u201cinadequate to satisfy all of these obligations\u201d if it reached that point.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cIf Congress fails to increase the debt limit, it would cause severe hardship to American families, harm our <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/yellen-warns-of-debt-default-as-early-as-june-1\/\" title=\"Yellen Warns Of Debt Default As Early As June 1\">global leadership position<\/a>, and raise questions about our ability to defend our national security interests,\u201d Yellen wrote to lawmakers Friday.<\/p>\n<\/blockquote>\n<p>Reagan Economist Dr. Arthur Laffer downplayed Yellen\u2019s hysteria about the situation on OAN\u2019s \u201c<a rel=\"noreferrer noopener\" href=\"https:\/\/live.oann.com\/home.ktv\" target=\"_blank\">Weekly Briefing<\/a>.\u201d<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cIt\u2019s not quite a nothing burger,\u201d Laffer explained. \u201cBut it\u2019s really very, very inconsequential, because we all know that sooner or later the debt ceiling will be raised.\u201d<\/p>\n<\/blockquote>\n<p>Laffer also explained this rationale, saying Yellen can move payments around based on when the ceiling gets raised.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cLet\u2019s imagine we don\u2019t hit the debt ceiling right on time,\u201d said Laffer. \u201cAnd let\u2019s imagine they have to do some supplemental issues there. [Yellen] can control what spending is done, and how much it\u2019s done. We may have to delay the payment of some bills a week or 10 days or something like that, but none of these are in doubt of being paid. The revenues are way, way up. It\u2019s overspending that really is the issue. Kevin McCarthy is completely correct on that.\u201d<\/p>\n<\/blockquote>\n<p>A <a href=\"https:\/\/s3.documentcloud.org\/documents\/23822858\/cnn-poll-debt-ceiling-biden-border-security.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">poll<\/a> conducted by CNN revealed that 60% of Americans believe Congress should only raise the nation\u2019s debt ceiling if it cuts spending at the same time. The poll shows that Americans are backing House Republicans in the standoff.<\/p>\n<blockquote class=\"wp-block-quote\">\n<p>\u201cJust remember that the government doesn\u2019t create resources,\u201d Laffer said. \u201cGovernment redistributes resources. So every time it gives someone $1 who hasn\u2019t worked, they take $1 away from someone who has worked out. That\u2019s just math. It\u2019s just simple. Government spending is taxation, pure and simple.\u201d<\/p>\n<\/blockquote>\n<p>House Republicans passed a bill to raise the debt ceiling in April. The \u201cLimit, Save, Grow\u201d Act would <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-teases-deal-on-debt-ceiling-says-he-is-very-optimistic\/\" title=\"Biden optimistic about debt ceiling deal.\">set federal discretionary spending<\/a> at $1.47 trillion during the next fiscal year. The bill would also allow spending to increase 1% annually from there. That is significantly below the rate of inflation in most years.<\/p>\n<p>Biden\u2019s negotiators and McCarthy\u2019s teams will remain in touch over the weekend, pushing for a midnight deal. But with no bill to vote on, House Lawmakers have also left Washington for the Memorial Day weekend. They\u2019ll be given 24 hours notice to return if a deal is reached.<\/p>\n<h3>Other News:<\/h3>\n<ul>\n<li>\n<p>President Joe Biden nominates General Charles Q. Brown, the nation\u2019s current Air Force Chief of Staff to be the new chairman of the Joints Chiefs of Staff. One America\u2019s Madison Colbern has more.<\/p>\n<\/li>\n<li>\n<p>Governor Ron Desantis talks up his education policies, ahead of his 2024 presidential campaign. One America\u2019s Nathaniel Mannor has more on the story.<\/p>\n<\/li>\n<li>\n<p>New York City Mayor Eric Adams says 50% of NYC hotel rooms are filled by illegal immigrants. One America\u2019s Caitlin Sinclair has more.<\/p>\n<\/li>\n<li>\n<p>The debt ceiling debate has really come down to one thing, spending. House speaker McCarthy says they\u2019re close but no deal yet.<\/p>\n<\/li>\n<li>\n<p>TOKYO (Reuters) -The United States and Japan will deepen cooperation in the research and development of advanced chips and other technologies, they\u2026<\/p>\n<\/li>\n<li>\n<p>By Jonathan Stempel (Reuters) \u2013 A former public relations firm for Twitter sued the social media company on Friday, saying it has\u2026<\/p>\n<\/li>\n<li>\n<p>By Supantha Mukherjee and Martin Coulter (Reuters) \u2013 OpenAI has no plans to leave Europe, CEO Sam Altman said on Friday, reversing\u2026<\/p>\n<\/li>\n<li>\n<p>By Kantaro Komiya TOKYO (Reuters) \u2013 Group of Seven (G7) nation officials will meet next week to consider problems posed by generative\u2026<\/p>\n<\/li>\n<\/ul>\n<p>Stay informed! Receive breaking news blasts directly to your inbox for free. Subscribe here.\u00a0<a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Biden told the media before leaving for Camp David that a deal on the debt ceiling is almost finalized. He stated that &#8220;things are looking good&#8221; regarding the matter.<\/p>\n","protected":false},"author":2062,"featured_media":1939537,"comment_status":"open","ping_status":"closed","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":[542],"tags":[3620,10142,3715,5487,11356],"class_list":["post-1939536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-biden","tag-ceiling","tag-deal","tag-debt","tag-optimistic"],"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\/1939536","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\/2062"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1939536"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1939536\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1939537"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1939536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1939536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1939536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}