Treasury begins ‘extraordinary measures’ as parties dig in over debt limit - The Washington Post

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President Biden greets Rep. Anna G. Eshoo (D-Calif.) and California Gov. Gavin Newsom (D) aft arriving connected Air Force One astatine Moffett Federal Airfield successful Mountain View, Calif., connected Jan 19. (Susan Walsh/AP)

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Today, President Biden arrived successful California to sojourn parts of the authorities that person been damaged by floods and landslides. Gov. Gavin Newsom (D), Sen. Alex Padilla (D-Calif.) and FEMA Administrator Deanne Criswell joined Biden aboard Marine One for an aerial circuit of the impacted regions. In remarks aft the tour, Biden described the harm of the “drenching rains, almighty winds, floods, [and] landslides.”

If anybody doubts the clime is changing, they indispensable person been dormant for the past mates of years,” the president said.

The national authorities has deed its indebtedness limit, prompting the Treasury Department to instrumentality “extraordinary measures” successful coming months for the state to support paying its bills, Treasury Secretary Janet L. Yellen told lawmakers. The White House has called connected Congress to walk authorities raising the bounds without conditions, but Republicans are insisting connected spending cuts for their support, a posture they person not taken nether GOP presidents. In a associated connection this week, Senate Majority Leader Charles E. Schumer (D-N.Y.) and House Minority Leader Hakeem Jeffries (D-N.Y.) urged swift enactment to debar a “disastrous default.”

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  • 6 p.m. Eastern (3 p.m. Pacific): Biden delivers remarks successful Santa Cruz County, Calif. Watch unrecorded here.

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