From Washington: U.S. Debt Ceiling Sparks Debate Over Spending

The Fox News Rundown

FOX News Podcasts

News, Daily News, Politics

3.4 • 1.7K Ratings

🗓️ 22 January 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

According to the Treasury Department, the United States reached its $31 trillion limit on Thursday. With the risk of a default in June, Congress must act swiftly to protect the federal government's credit. While Speaker McCarthy is calling for negotiations with the President to discuss spending cuts, the White House has insisted that raising the debt ceiling should have no conditions. FOX News Senior Congressional Correspondent Chad Pergram discusses how Speaker McCarthy and President Biden can work to find a solution, what negotiations could be on the table, and the future for Speaker McCarthy as he works to strike deals within the new Congress. On Tuesday, the Washington D.C. City Council voted to overturn Mayor Muriel Bowser's veto of the Revised Criminal Reform Act. The bill included policies that many deemed to be "soft on crime," including the elimination of almost all mandatory minimum sentences, restore the right to a jury trial for misdemeanor sentences, and reduce maximum sentences for certain offenses. Advocates for the bill have argued that it's necessary for the modernization of the current criminal code. FOX News Washington Correspondent Mark Meredith explains what the package contains, its national implications, and how it could face pushback from Congress. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I'm Emily Campagno, host of The Fox True Crime Podcast.
0:03.6	I'm bringing you gripping details straight out of some of the most horrific crimes.
0:07.8	Join me starting September 18th for a week of true crime content you won't want to miss.
0:12.9	Be sure to subscribe wherever you listen.
0:30.0	We're spending.
0:31.0	Wait till Wall Street starts calling and says you are putting us in jeopardy of the worst
0:35.1	financial shocks since 1929 or whatever, I mean, you know, pick your doomsday scenario
0:39.3	there.
0:40.3	I'm Ryan Schmelz.
0:41.7	Crime in the nation's capital, Washington DC City Council's solution for changing the
0:46.5	criminal code, getting pushback from the mayor and maybe even Congress.
0:51.6	When you have the mayor of DC and the police union saying, please for the love of God do
0:56.3	not do this to us, this will make us less safe and the City Council moved it forward
1:00.3	anyway.
1:01.3	It's quite telling.
1:02.3	This is The Fox News rundown from Washington.
1:13.5	The federal government maxed out its credit, sort of, the Treasury Department says the U.S.
1:18.3	debt limit was hit Thursday, it's a little over $31 trillion.
1:23.2	It resets that limit and has raised it dozens of times since the 1960s.
1:28.4	Despite hitting the threshold, Treasury Secretary Janet Yellen says the risk of a default, the
1:33.3	federal government not being able to actually issue bonds or pay debt, is still several months
1:38.6	away.
	...

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