DAY 734: Yellen warns U.S. to hit debt limit next week

The 11th Hour with Stephanie Ruhle

MS NOW, Stephanie Ruhle

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4.4 • 3.6K Ratings

🗓️ 14 January 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Treasury Secretary Janet Yellen sounds the alarm telling Congress the U.S. is set to reach its debt limit on Thursday. Meantime, the Trump Organization is hit with a $1.6 million fine in a years-long tax fraud scheme. And our Friday Nightcap talks Republican’s new power in the House, the embattled George Santos and a Golden Globes comeback. Jon Allen, Melissa Murray, Brendan Buck, David Cay Johnston, Rehema Ellis, Tim O’Brien, Toure and Kurt Andersen join.

Transcript

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0:00.0	Tonight, the budget battled brewing in Washington after House Republicans used their first week
0:09.8	to score political points and not govern.
0:12.7	Then the Trump org hit with a maximum $1.6 million fine for a tax scheme days after its
0:19.9	CFO was sentenced to jail at Rikers Island.
0:23.2	So what now?
0:24.7	And from a wild week in Congress, including multiple calls for a congressman to resign
0:29.6	to the return of the Golden Globes, our Friday nightcap is here on all of it, as the
0:34.7	11th hour gets underway right now.
0:43.2	Good Friday evening, I'm Stephanie Ruhl.
0:45.4	New signs tonight that Republicans running the House may be setting the stage for the first
0:50.1	major showdown in the new Congress, one that could have a huge impact on our economy.
0:55.6	Today, Treasury Secretary Janet Yellen sounded the alarm, telling Congress the United States
1:00.7	is set to reach its debt limit next Thursday.
1:03.9	Yellen said she would have to start taking extraordinary measures to keep paying the nation's
1:08.2	bills if lawmakers do not raise that limit.
1:11.6	She added, if nothing gets done, the United States could go into default by early June.
1:17.2	The Washington Post reporting House Republicans are preparing for an emergency plan for
1:21.4	breaching the limit, the Post also reports the proposal would direct Treasury to prioritize
1:26.9	certain payments if the U.S. hits the ceiling.
1:29.8	The plan is still under discussion and private.
1:32.4	Today, the White House said this about negotiating over the debt limit.
1:38.2	We will not be doing any negotiation over the debt ceiling.
	...

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