investorschatroom.com

People

Trump ignores Republicans on Democrats' debt limit and Harvey funds plan

Share
A supporter of Sen. Bernie Sanders yells at a Donald Trump supporter at Martin Luther King Jr. Park in Berkeley Calif. on Aug. 27

A Democratic aide who was briefed on the meeting told The Washington Examiner that budget discussions between GOP and Democratic leadership came to a screeching halt when the first daughter dropped by like she's the wacky neighbor on a sitcom. Democrats insisted on a three-month increase, only to be joined by Trump.

The remarkable turn of events left Republican congressional leaders, in control of both chambers of the legislative branch, "shell-shocked" and "visibly annoyed", and showcased how a President who also authored "The Art of the Deal" actually cuts one.

House Democratic leader Nancy Pelosi and Senate Democratic leader Chuck Schumer on Wednesday said they would back the Harvey aid if it is linked to a three-month debt increase, not the longer term debt hike that Republicans are seeking.

The House-passed bill would provide $7.4 billion for the Federal Emergency Management Agency and $450,000 for the Small Business Administration.

Some of the must-pass legislation lawmakers face include a debt ceiling increase and a government funding bill by the end of the month.

GOP leaders also hope to use the aid bill to increase the US debt limit to permit the government to borrow freely again to cover its bills. "We agreed to a three-month extension on debt ceiling, which they consider to be sacred - very important - always we'll agree on debt ceiling automatically because of the importance of it". It protects members of Congress from casting multiple votes on the politically unpopular legislation over a short period of time and especially in the run-up to the 2018 congressional elections, and it lends added stability to financial markets.

"Republican leaders pushed for [an] 18-month debt limit hike, then floated 6 months".

USA military options on North Korea 'very ugly'
In 2016, USA companies exported $169.3 billion in goods to China and China exported $478.9 billion in goods to the United States. Security Council is slated to hold an emergency meeting Monday in the wake of North Korea's latest act of aggression.

Texas fans throw objects on field during loss to Maryland
The lack of short yardage success was a combination of not establishing a running game and putting too much on Shane Buechele . In the previous three matchups between the Terrapins and Longhorns, Texas outscored Maryland by a combined score of 102-0.

Pres. Rouhani felicitates Muslim leaders on Eid al-Adha
Eid al-Adha is one of the two main holidays in Islam (the other being Eid al-Fitr, which commemorates the end of Ramadan). However, as Ibrahim slashed the throat of his son, he found that an angel had replaced Ishmael with a goat.

In addition to attaching the debt ceiling to the Harvey aid, a report from Axios' Jonathan Swan said GOP leadership is also considering attaching a continuing resolution (CR) to fund the government to the package.

The U.S. House voted Wednesday to fund nearly $8 billion for Hurricane Harvey relief, with full support from the Texas delegation.

Trump interjected and sided with the Democrats, eventually sealing the deal with a three-month suspension of the limit, a three-month funding bill, and a package for Hurricane Harvey relief.

At least one Republican senator, Ben Sasse of Nebraska, swiftly lashed out at the news, issuing a terse statement: "The Pelosi-Schumer-Trump deal is bad". But while the Democratic offer could make up for lost conservative votes, it would mean revisiting the debt-ceiling debate in just three months, an option some lawmakers want to avoid.

" We had a very good meeting with Nancy Pelosi and Chuck Schumer", Trump told reporters on the presidential aircraft, not offering any mention of Ryan or McConnell, who also were present.

Congress must raise the debt ceiling by the end of September to prevent the government from defaulting on its obligations. But if the group decides to vote against the bill, it could exacerbate tensions among House Republicans and raise the specter that the bill could pass without a majority of the majority party - violating an informal rule that House Speaker Paul D. Ryan (R-Wis.) had pledged to adhere to when he became speaker in 2015.

Share