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🗓️ 22 May 2023
⏱️ 12 minutes
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On today’s Daily Signal Top News, we break down:
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0:00.0 | I'm Virginia Allen, and this is the daily signal of top news for Monday, May 22nd. |
0:08.4 | Here are today's headlines. |
0:18.9 | President Joe Biden and House Speaker Kevin McCarthy are meeting today to talk about |
0:26.5 | raising the debt ceiling. |
0:28.3 | Their meeting comes one day after Treasury Secretary Janet Yellen joined NBC's Meet the |
0:33.3 | Press and warned that the deadline to raise the debt ceiling is quickly approaching. |
0:39.0 | We expect to be unable to pay all of our bills in early June and possibly as soon as June |
0:48.3 | 1st. |
0:49.7 | And I will continue to update Congress, but I certainly haven't changed my assessment. |
0:56.4 | So I think that that's a hard deadline. |
1:00.7 | House Republicans have passed a bill that would raise the debt ceiling by $1.5 trillion, |
1:06.7 | or through March 2024, whichever comes first. |
1:10.2 | The GOP bill also cuts government spending, reducing spending back to 2022 levels, but |
1:17.4 | Biden has not agreed to the bill. |
1:19.8 | Republican Representative Patrick McKenry is heavily involved, and he told Press today |
1:24.6 | that it's a critical time for these negotiations. |
1:28.2 | He said this is a very sensitive point here, and the goal is to get something that can |
1:33.4 | be legislated into law. |
1:35.8 | He added that he thinks people have good will, and that he does not think there's any |
1:41.2 | interest in us dealing these tough conversations. |
1:45.0 | The hope is that the White House can reach an agreement with Republicans this week to |
1:49.5 | cut spending and raise the debt ceiling. |
... |
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