Page 8 - Debt Limits News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Welcome back. you're looking live at the dow which fell over 600 points this morning after the chairman of the federal reserve, jerome powell, testified on capitol hill that inflation would likely get worse, setting up the fed to potentially raise interest rates sooner than expected and to pull back a bit faster on the buying of assets. powell was joined by the treasury secretary, janet yellen, who testified about the state of the economy and the importance of raising the debt limit. her testimony comes as congress' deadline to raise the debt limits approaches maybe mid-december, maybe farther...

More i mean he indicated one of the other things beyond voting rights that he wants to get rid of the filibuster on potentially which is dealing with the debt ceiling because we just went through a whole process where republicans were filibustering, threatening to filibuster, the whole notion of raising the nation's debt limits so that america does not go into its first default ever in its history and send the economy into a total tailspin, potentially. so he clearly is giving this some thought, and i thought tonight just emerged in a totally different place. and i think this is so interesting...

Second, if that's the right thing. isn't what he doesn't say there or what he could not say? >> i'm with you. i don't know i understand fully chris' read on this. i thought it was very significant. i think the president put himself in a different position on this long running debate about the filibuster which is preventing some major agenda items whether voting rights, police reform, what have you? by the way, when he said maybe more i mean he indicated one of the other things beyond voting rights that he wants to get rid of the filibuster on potentially which is dealing with the debt ceiling ...

Progress. right now, things in washington as you know are awfully noisy. turn on the news in every conversation is a confrontation, and when you take a step back and look at what's happening, they are actually making real progress. maybe he doesn't see i like to move it faster. we are making consistent steady progress, we are making progress on funding the government and raising the debt limits of people can get their social security checks, the military can continue to get paid and so much more. we are making real progress on covid-19 as well. more than 186 million americans are now fully vac...

Senate Majority Leader Chuck Schumer said Thursday and lawmakers had reached a deal to extend the federal debt ceiling through December and that a vote on the measure could take place within hours.