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here and what would happen if the borrowing ceiling is not lifted? my colleague samira hussain has been investigating. first of all, this debt ceiling crisis is actually a political crisis. itjust happens to hinge on a must pass piece of legislation to save the nation from economic catastrophe. so, what exactly is happening here? weeks to go before the federal government is unable to pay its bills. well, the us government spends more money that it brings in. so it needs to borrow money to pay its bills. it can only borrow a certain amount of money. and if it needs to borrow more, congress has to approve that. it used to be a routine thing, but not any more. republicans see this as an opportunity to extract demands, like cuts to affordable housing or other social security spending. but us presidentjoe biden says, no way. you need to pass this legislation with no strings attached. so off to the white house the two warring political parties go to try and work it out. ....
so how did washington get here and what would happen if the borrowing ceiling is not lifted? my colleague samira hussain has been investigating. first of all, this debt ceiling crisis is actually a political crisis. itjust happens to hinge on a must pass piece of legislation to save the nation from economic catastrophe. so, what exactly is happening here? weeks to go before the federal government is unable to pay its bills. well, the us government spends more money that it brings in. so it needs to borrow money to pay its bills. it can only borrow a certain amount of money. and if it needs to borrow more, congress has to prove that. it used to be a routine thing, but not any more. republicans see this as an opportunity to extract demands, like cuts to affordable housing or other social security spending. but us presidentjoe biden says, no way. you need to pass this legislation with no strings attached. so off to the white house the two warring political parties go ....
florida in just a moment. plus a new subpoena from the department of justice, this one to the national archives for white house documents it turned over to the january 6 committee. meanwhile, in georgia, rudy giuliani testified for over six hours over his efforts to overturn the 2020 election. now georgia s governor is seeking to delay his own testimony which was scheduled for today. willie. let s begin this hour in the state of florida. where at 1:00 p.m. a federal judge will hear arguments about whether to unseal the affidavit used by the fbi to search the florida home of former president donald trump. the justice department is arguing against that saying it could compromise an ongoing investigation. the fbi goes through the seized documents sorting those covered by attorney/client privilege to what is relevant to the case. joining us in west palm beach, correspondent sam brock. good morning. reporter: willie, good morning. and speaking to that specifically, the b ....
Quite a few republican lawmakers who risked losing control of the house floor yesterday because so many of them were up in New York City vying for a seat at Donald Trumps criminal trial. In just the last two weeks, the speaker of the house, mike johnson, along with representatives, lauren boebert, matt gaetz, bob good, byron donalds, andy biggs, mike waltz and matt norman have gone to manhattan to be seen on camera publicly supporting donald trump at the courthouse. Yesterday, so many went up that a Republican House oversight hearing to hold Merrick Garland in contempt had to be postponed nine hours. Then when it finally started, it abruptly stopped because Marjorie Taylor greene asked the democrats if any of ....
federal reserve believe interest rates are at or near their peak, even going as so far to signal of three possible because next year as us inflation continues to receive from its ao year high. during his frescoes, jerome powell suggested as much. we his frescoes, jerome powell suggested as much.- suggested as much. we are seeinu suggested as much. we are seeing strong suggested as much. we are seeing strong growth - suggested as much. we are seeing strong growth that l seeing strong growth that appears to be moderated, a labour appears to be moderated, a labour market that is coming back labour market that is coming back in labour market that is coming back in the balance by so many measures back in the balance by so many measures and we are seeing inflationary progress. this is what inflationary progress. this is what we inflationary progress. this is what we have been wanting to see what we have been wanting to see. y . ., what we have been wanting to see. .., . ....