{"id":880954,"date":"2021-10-14T21:43:48","date_gmt":"2021-10-15T01:43:48","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=880954"},"modified":"2021-10-14T21:43:51","modified_gmt":"2021-10-15T01:43:51","slug":"biden-signs-bill-granting-temporary-debt-ceiling-extension","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-signs-bill-granting-temporary-debt-ceiling-extension\/","title":{"rendered":"Biden Signs Bill Granting Temporary Debt Ceiling Extension"},"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\">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%2Fbiden-signs-bill-granting-temporary-debt-ceiling-extension%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=880954&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><\/div>\n<p>President Joe Biden signed a $480 billion extension of the federal debt ceiling on Thursday night, temporarily averting a Treasury default.<\/p>\n<p>The Senate passed the short-term legislation on Oct. 7, and the House of Representative <a href=\"https:\/\/dailycaller.com\/2021\/10\/12\/house-approves-debt-ceiling-increase-delaying-nationwide-default\/\">passed<\/a> it on Tuesday. The debt ceiling is now scheduled to be breached on Dec. 3, the same day that federal government funding runs out.<\/p>\n<blockquote class=\"twitter-tweet\" readability=\"6.1363636363636\">\n<p dir=\"ltr\" lang=\"en\">Biden has signed the stopgap debt ceiling bill, per WH. <a href=\"https:\/\/t.co\/xCR6p93fx4\">pic.twitter.com\/xCR6p93fx4<\/a><\/p>\n<p>\u2014 Emily Cochrane (@ESCochrane) <a href=\"https:\/\/twitter.com\/ESCochrane\/status\/1448816513524326403?ref_src=twsrc%5Etfw\">October 15, 2021<\/a><\/p>\n<\/blockquote>\n<p>The U.S. Treasury previously expected to breach the debt ceiling on Oct. 18. Treasury Secretary Janet Yellen had <a href=\"https:\/\/dailycaller.com\/2021\/07\/23\/treasury-secretary-janet-yellen-irreprable-harm-congress-debt-ceilng-mitch-mcconnell-nancy-pelosi\/\">warned<\/a> that a failure to raise it could lead to a worldwide economic recession, and a drop in the U.S.\u2019 credit rating.<\/p>\n<p>Senate Republicans, led by Minority Leader Mitch McConnell, had insisted that Democrats use the budget reconciliation process to raise the debt ceiling. However, Democrats refused, with Majority Leader Chuck Schumer claiming that the process was too \u201crisky\u201d and would risk a default. Eleven Republicans, including McConnell, ultimately <a href=\"https:\/\/dailycaller.com\/2021\/10\/07\/senate-republicans-filibuster-democratic-bill-raise-debt-ceiling\/\">voted<\/a> with Democrats to break a filibuster and temporarily raise the debt ceiling.<\/p>\n<p>After they voted to break the filibuster, however, Schumer blasted Republicans for \u201cplay[ing] a dangerous and risky partisan game.\u201d <a href=\"https:\/\/dailycaller.com\/2021\/10\/08\/watch-joe-manchins-reaction-as-schumer-goes-on-a-victory-lap-in-speech\/\"><strong>(RELATED: Watch Joe Manchin\u2019s Reaction As Schumer Goes On Victory Lap In Speech)<\/strong><\/a><\/p>\n<p>\u201cI am glad that their brinksmanship did not work,\u201d he added.<\/p>\n<p>In response, McConnell promised that Republicans would not vote again to help raise the debt ceiling.<\/p>\n<p>\u201cIn light of Senator Schumer\u2019s hysterics and my grave concerns about the ways that another vast, reckless, partisan spending bill would hurt Americans and help China, I will not be a party to any future effort to mitigate the consequences of Democratic mismanagement. Your lieutenants on Capitol Hill now have the time they claimed they lacked to address the debt ceiling through standalone reconciliation, and all the tools to do it,\u201d he <a href=\"https:\/\/www.republicanleader.senate.gov\/newsroom\/press-releases\/mcconnell-letter-to-president-biden-on-debt-limit-\">wrote<\/a> in a letter to Biden.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden signed a $480 billion extension of the federal debt ceiling on Thursday night, temporarily averting a Treasury default.The Senate passed the short-term legislation on Oct. 7, and &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-880954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/880954","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=880954"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/880954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=880954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=880954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=880954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}