Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Republican Speaker McCarthy opposes extending debt-ceiling through fiscal year

Published 05/09/2023, 12:25 PM
Updated 05/09/2023, 12:32 PM
© Reuters. FILE PHOTO: Speaker of the House Kevin McCarthy (D-CA) awaits the start of an address by South Korea's President Yoon Suk Yeol's to a joint meeting of Congress in the House Chamber at the U.S. Capitol in Washington, U.S. April 27, 2023.  REUTERS/Elizabeth

WASHINGTON (Reuters) - Republican U.S. House of Representatives Speaker Kevin McCarthy said on Tuesday he opposes the idea of extending the nation's debt-ceiling through the end of the fiscal year on Sept. 30, ahead of an afternoon meeting with Democratic President Joe Biden.

Asked by reporters whether he would support such a move to help the U.S. avoid defaulting on its $31.4 trillion in debt, McCarthy replied "no."

"Just get this done now," added McCarthy, who has said he will not pass an increase in the borrowing limit without an agreement to cut spending. Referring to Biden, he added, "he's got to stop ignoring problems. And why continue to kick the can down the road? Let's solve it now."

Latest comments

bravo. hold firm Mccarthy
going to be so funny when the GOP forces a US defaults - the finger pointing will move the conversation from trump which they so desperately need - vegas default odd going down daily odds for a recession 3-1, odds off a default removed from board no one will take that bet anymore and vegas will go bankrupt with the US when it happens - good news they will be making the payout in US and they now have their money in Yuan
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.