Page 30 - Debt Ceiling Increase News Today

Chad. >> it is called a discharge petition, 218 members can go over the head of the speaker and put a bill on the floor. but democrats only have 213 votes and this gamut has only been successful twice in the past two decades. senate majority leader chuck schumer says he is open to spending cuts. lawmakers must first raise the debt ceiling. >> obviously a time to talk about that. time to discuss those cuts is not hostage taking with the debt ceiling. thats too dangerous. the time to discuss it is...

>> reporter: so should you find a middle ground? >> a deal with spending cuts tied to debt ceiling increase. >> i think its a big mistake. >> this deal has to be between biden and mccarthy. or their respective teams because its just -- theres no other way that something gets 60 votes in the senate. >> reporter: now senate majority leader chuck schumer has taken some early procedural steps to hold a vote on a clean debt ceiling hike. they could also vote on the house passed gop debt ceiling bill ...

Given how intractable the two positions are at this moment in time, at the white house insisting that they are not moving off of, despite the presidents call for the top four leaders today, that there will be no conditions attached to any clean debt ceiling increase. the stare down has the very real potential did not just approach the edge but go right over it. that was the driving force, especially given the fact that secretary janet yellens letter what out leaders today behind the presidents p...

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>> house speaker kevin mccarthy insists house republicans are addressing the issue, pointing to a newly passed house bill that would raise the debt limit. albeit with conditions the president has already rejected. any hopes they might raise the debt limit without any of the trade-offs that republicans want was dismissed by republican senator john cornyn who said bluntly, wont pass the house, wont pass the senate. in a senate any bill would need nine republican votes. i want to bring in kayla tau...

Debt ceiling increase, that wont pass the house, they say, and wont even pass the republican led senate because nine votes would be held and senator joe manchin told me today he believes the white house should consider some spending cuts and said their position is not sustainable. >> the negotiation ought to be about the budget after we agree to avoid default. >> theyre saying a red line. theyre saying a green debt ceiling increase is a red line for them. >> theres no such thing as a red line. t...

Through this moment so we do not get into a situation to move past the debt ceiling. i keep saying that. it is congress responsibility to pass a debt ceiling increase and the president has called on him to do this in a clean way. heres the thing. the economic consequences could be dire. it certainly will be catastrophic for people who lose their jobs because they move past the debt ceiling and they can up end financial markets and up end equity markets and this is certainly not something to be p...

Havent changed in the last three months, but if theyre going to change, the white house can take a beat here and look at the facts it has at its feet and the economy as the federal reserve sees it when it talks tomorrow and say what are our options here and what are the risks to the economy. >> which side has leverage here right now, eugene? >> well, both and neither, to tell you the truth. they both have leverage because they have staked out positions, they held to their positions, and they say...

Votes as a result. hes had to deal with joe manchin and really going on a warpath against his own party here, and on top of all that, of course, hes right in the middle of this debt ceiling debate. the tough thing for senator schumer right now is while hes arguing in faber of a clean debt ceiling increase, he does not have the votes because, of course, in the senate, you need 60 votes to do anything in that chamber, so right now he is really trying in a -- in a phase of trying to back up the pre...

Today in israel speaker mccarthy made it clear there will be no debt ceiling increase that would be simply a clean increase. there must be some conditions. one side has to cave. the question is whether democrats will break ranks from the white house, pressure biden to come to the negotiating table perhaps we need to get a little bit closer to that deadline which could be in june, july before things get really serious because right now its still theatrics and posturing. >> among those democrats j...