Schumer-McConnell Reduces Debt Ceiling Drama

Schumer-McConnell Reduces Debt Ceiling Drama

Congress has until roughly Dec. 15 to raise the nation’s borrowing limit, according to Treasury Secretary Janet Yellen, who has warned that the mid-December date is when the government will no longer be able to fully pay its bills.

Senate Majority Leader Charles Schumer Chuck SchumerStandoff scraps speedy deal on Senate defense bill prior to Thanksgiving Defund Biden: The best way to put America on a budget Schumer: Emissions decreases ‘not sufficient’ without meeting White House environmental justice standard MORE (D-N.Y.) and GOP Leader Mitch McConnell Addison (Mitch) Mitchell McConnellOvernight Defense and National Security — Presented by Boeing — Senate punts on guard bill On The Money — House Democrats pass Biden’s huge bill The Hill’s Morning Report – Presented by ExxonMobil – House to vote on Biden social spending bill after McCarthy defer MORE (Ky.) are dialing down the drama as they attempt to an escape hatch from another high-stakes fight over the debt ceiling.

On the surface, the deadline sets the stage for round two of a bruising fight between the Senate leaders, who spent weeks in open warfare in the lead-up to the October debt ceiling vote, each walking far out onto limbs in their game of one-upmanship.

But instead, McConnell and Schumer, who their colleagues say rarely talk, are publicly pulling their punches for now in what senators view as a marriage of necessity — with the global economy hanging in the balance — rather than a love match between the two adversaries.

“I don’t know that it’s necessarily a thaw. I just think there’s a realization that this has to get done,” Sen. John Thune (S.D.), the No. 2 Senate Republican, said.

Asked if he was picking up bipartisan vibes between the two, Sen. Kevin Cramer (R-N.D.) replied, “No.”

“I feel just pragmatic people finally getting together,” Cramer added.

McConnell and Schumer have served in the Senate together for more than 20 years, but their relationship is notoriously icy, though not as openly hostile as the relationship between the GOP leader and former Senate Democratic Leader Harry Reid (Nev.).

The two have deal-making, pragmatic streaks in their political genes, a commonality that sparked hope before Schumer took over the Senate Democrats’ top spot in 2017 that they could figure out a way to function well together. And there have been moments of levity, including joking about bourbon together when Schumer spoke at the University of Louisville in 2018 after the two cut a budget deal and trading quips earlier this year when Schumer swooped in to beat McConnell to a weekly press conference.

But they’re also personality opposites, with Schumer continuously feeling out his caucus in person or via his infamous flip phone, while McConnell’s thinking is at times hard to decipher even to his closest allies in the GOP. And there have been heated fights between them, including three Supreme Court confirmation battles that battered the Senate. Schumer’s fiery floor speech after 11 Republicans helped advance the short-term debt hike in October, while ultimately voting against the bill, initially appeared to have nixed any chance of an agreement on the upcoming debt fight.

McConnell, in a letter sent to Biden the day after the speech, argued that Schumer “poisoned the well” with his remarks, which the GOP leader compared to a “tantrum.” “I write to inform you that I will not provide such assistance again if your all-Democrat government drifts into another avoidable crisis,” McConnell wrote at the time.

But temperatures appeared to have cooled between the two since then, with both being careful to not draw hard lines during recent back-to-back press conferences. “We cannot let the full faith and credit of the United States lapse, and we are focusing on getting this done in a bipartisan way,” Schumer told reporters.

Asked about Democrats wanting the debt ceiling to be bipartisan, McConnell sidestepped, instead predicting that “we’ll figure out how to avoid default. We always do.” The two had a rare in-person meeting — a day after two sources told The Hill that they were talking — with McConnell saying afterward that they had a “good conversation.”

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Pocket Planner introduces the personal finance app, Pocket Plan
Pocket Planner introduces the personal finance app, Pocket Plan
Here, users can also submit questions about their budget, investments, retirement, and more. The average American will pay more than $280,000 in interest ...
Russia arrests 5 people because of a coal mine disaster that killed 51
Russia arrests 5 people because of a coal mine disaster that killed 51
Two officials of the local branch of Rostekhnadzor, Russia’s state technology and ecology watchdog — Sergei Vinokurov and Vyacheslav Semykin — have also been ...
The Honor 60 has a Snapdragon 778G+ CPU and 12GB of RAM, according to GeekBench
The Honor 60 has a Snapdragon 778G+ CPU and 12GB of RAM, according to GeekBench
Enter a last-minute visit to GeekBench, where a certain HONOR TNA-AN00 was recently spotted with a few consecutive benchmark runs. The listings themselves ...
In 2022, the first RISC-V smartphones could be available
In 2022, the first RISC-V smartphones could be available
The flexibility and ease of development brought on by the latest iterations of the RISC-V ISA have also been noticed by Intel and Apple recently, but this ...
With incredible detail, these iPhone 13 wallpapers show the inside of your iPhone
With incredible detail, these iPhone 13 wallpapers show the inside of your iPhone
Gorgeous iPhone wallpapers show off internal components Apple packs hundreds of tiny components into every iPhone to make them the fastest, most impressive ...
Charging your phone at the office is like stealing electricity, according to Viral News.  Reduction in payment... It's important to note that this goes viral
Charging your phone at the office is like stealing electricity, according to Viral News. Reduction in payment… It’s important to note that this goes viral
For this reason they carry the charger wherever they go. Tell me how is the situation if there is no charger in the office that dedicates at least 8 to 10 ...
The Queen only answers two people on the phone, and it has been announced that she will host Christmas at Sandringham this year.
The Queen only answers two people on the phone, and it has been announced that she will host Christmas at Sandringham this year.
“But the two people she phones the most is said to be her daughter Princess Anne and her racing manager John Warren.” Meanwhile, it has been revealed that ...
Targeted iPhones: Apple Warns Thai "State-Sponsored Invaders" Activists
Targeted iPhones: Apple Warns Thai “State-Sponsored Invaders” Activists
Prajak Kongkirati, a political scientist at Bangkok’s Thammasat University, said he had received two emails from Apple warning it believed his iPhone and ...
Kerala professors and researchers conduct a search for a stolen laptop belonging to a doctoral student with visual impairment
Kerala professors and researchers conduct a search for a stolen laptop belonging to a doctoral student with visual impairment
“Next week, I have a paper presentation. I don’t know how I will do it without the help of my laptop. I’m not able to continue my research without my ...
Why is audio distortion and THD a matter of concern?
Why is audio distortion and THD a matter of concern?
Distortion ranges from subtle, barely perceptible coloration, to faint “fuzz,” to a nasty buzzing on certain notes or frequencies—it can be so bad as to make ...
Show next
We will be happy to hear your thoughts

      Leave a reply

      Compsmag - Latest News In Tech and Business
      Logo