Page 4 - Future Spending News Today

Are due, in order to protect the whole faith and credit of the united states. in the context, were discussing spending. i mean, mccarthy has said that he is committed to regular order. regular orders in the context of future spending, this is through the appropriations and budget process. i think the president is right on target, and saying we cant negotiate whether we pay the interest on our debt so that we dont send interest rates even hire, lose or credit rating, cost taxpayers billions of do...

His speakership gavel. the main concession here made on the debt limit, these deficit hawks, as they describe themselves, dont want to add any more money to the national deficit, which is now at 31 and a half trillion dollars. and one of their tools is, they made a disagreement with mccarthy, this backroom handshake,. listen, we will not provide you any votes unless you lift the debt ceiling, with strings attached, meaning future spending will be cut. so, thats an important place to watch here a...

Fight against our enemy russia. is this the best use of american taxpayer dollars? >> unfortunately, lawmakers are being denied the opportunity to have debate and discussion, part of the reason zelenskyy is coming about because hes aware of the concern republicans and lawmakers have about the lack of transparency as republicans are set to retake the majority and advocating for future spending to come. it is valid point, lawmakers say, if we continue to support this, we need to know where the mon...

Will keep you across that as the day progresses. now lets turn our attention to the us mid—term election, and financial markets in the us have been rising ahead of the vote. the outcome will decide which party controls congress and affect the direction of future spending. democrats currently control the house, and have a majority in the senate. our north america business correspondent michelle fleury has more from new york. in the final stretch before the midterms, democrats forced to defend t...

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Past spending agreements. it has failed 100% of the time in curbing future spending, and you have been categorical that you are for suspending the debt ceiling. do you see any chance that this happens? >> i think its become increasingly damaging to america to have a debt ceiling. its led to a series of politically dangerous conflicts that have caused americans and global -- global markets to question whether or not americas serious about paying its bills. its flirting with a self-inflicted crisi...

Trillions in debt that would tax, spend and regulate america into european neosocialism. im not for it. im not going to vote for it. now, to do that, they have to raise the debt ceiling. raising the debt ceiling would not only raise the debt ceiling for past spending but raise it for future spending. so they cant pass their bill without raising the debt ceiling. senator schumer has a very easy way of raising the debt ceiling with democratic votes. all hes got to do is amend the budget resolution...

That has to do with the biden agenda that democrats -- >> ryan, thank you so much for that. christine, can you just explain in laymans terms what happens if congress does not raise the debt limit? >> reporter: 50 million senior citizens would not get a social security check or it would be delayed. the child tax credit going into peoples bank accounts would be stopped. and you wouldnt be able to pay the troops right away. this is paying americas bills. its really dangerous to play with this stuff...

>> julie: the presidents budget now in the hands of the office of management and budget. we are awaiting the cbs score. this "wall street journal" piece giving a bit of a preview. it will spare the two largest drivers of future spending, medicare, and social security leaving trillions and cuts for programs. that includes discretionary spending to education, housing, environment programs and -- in addition to new proposed reductions to nondiscretionary spending like food stamps, medicaid, and fed...

Correct? >> whether thats part of the full package or the short term hasnt been decide yet. my guess is the short term will be a down payment, then well exchange our spending habits. when want more time to lay out the growth issue and also the spending restrain issues. what we need is spending caps, guardrails from future spending from congress. we need a little more time to lay that out. martha: do you think the president is anywhere near ready to strike that kind much deal? hes not been intere...