US Treasury to Hit Debt Ceiling by November: Congressional Budget Office

The Congressional Budget Office (CBO) said on Wednesday that the U.S. Treasury Department is projected to exhaust its debt limit by October or November, as Democrats seek to raise that limit for trillions more in funding. Republicans say they oppose the move.

As of June 30, an additional $6.5 trillion had been borrowed, bringing total federal debt to $28.5 trillion. The new debt limit is set to be decided by August 2021.

Since taking office, President Joe Biden has signed a $1.9 trillion dollar COVID-relief package and Democrats are gearing up to push another $3.5 to $6 trillion package for infrastructure, climate change action, and other Democrat-backed initiatives through to Biden’s desk, with or without Republican support.

Republican lawmakers had opposed proposals for the $1.9 trillion package and are now in opposition of the $3.5 trillion infrastructure legislation, calling it wasteful spending that will only drive up inflation and taxes.

“I can’t imagine there will be a single Republican voting to raise the debt ceiling after what we’ve been experiencing,” Senate Republican leader Mitch McConnell told Punchbowl News in an interview published Wednesday morning. “I can’t imagine a single Republican in this environment that we’re in now—this free-for-all for taxes and spending—to vote to raise the debt limit,” he said.

The debt limit—also known as the debt ceiling—is the maximum amount of debt the Department of the Treasury can issue to the public or to other federal agencies. The amount is set by Congress through the legislative process and has been increasing over the years to finance the government’s operations.

The budget office estimates that, if the debt limit remains unchanged, the ability to borrow using those measures would be exhausted and the Treasury would probably run out of cash sometime by November 2021.

“The timing and size of revenue collections and outlays over the coming months could differ noticeably from CBO’s projections. Therefore, the extraordinary measures could be exhausted, and the Treasury could run out of cash, either earlier or later than CBO projects,” the office said in its report.

Sen. Joni Ernst (R-Iowa) talks to media on Capitol Hill in Washington on Feb. 3, 2020. (Charlotte Cuthbertson/The Epoch Times)

Sen. Joni Ernst (R-Iowa), an outspoken opponent of federal overspending, recently supported Sen. Rick Scott’s (R-Fla.) bill, the Federal Debt Emergency Control Act, to rein some of the government borrowing in.

“Despite being almost $30 trillion in debt, President Biden and congressional Democrats are continuing to propose trillions in additional spending of taxpayer dollars. If Iowans are expected to live within their means and balance their budgets, our federal government should too. This bill takes commonsense steps to hold Washington politicians accountable and to provide a pathway forward to tackle our nation’s debt crisis,” Ernst said in a June press statement.

The bill would require the Office of Management and Budget to declare a “Federal Debt Emergency” in any fiscal year where the debt exceeds 100 percent of that year’s Gross Domestic Product (GDP), which would then trigger several provisions to help control and reduce the federal debt to levels below 100 percent of GDP.

The  National Taxpayers Union’s Director of Federal Policy, Andrew Lautz, praised the legislation, saying that the nation’s elected representatives in Congress need to get in control of the deficit.

“Congress needs to get serious about record debt and deficit levels, while also working to avoid back-breaking tax hikes on the middle class and small businesses. Senator Scott’s Federal Debt Emergency Control Act would give Congress the tools it needs to meaningfully address the debt when it outgrows the size of the economy. NTU applauds Senator Scott for leading this fiscally responsible effort,” Lautz said.

Meanwhile, during a June Congressional hearing, Secretary of the Treasury Janet Yellen implored lawmakers to raise the debt ceiling or otherwise face catastrophic results to the social welfare policies offered to Americans that many rely on.

“Failing to increase the debt limit would have absolutely catastrophic economic consequences. It would be orderly unprecedented in American history for the United States government to default on its legal obligations. I believe it would precipitate a financial crisis, it would threaten the jobs and savings of Americans,” Yellen said. “And at a time when we’re still recovering from the COVID pandemic, I would plead with Congress, simply, to protect the full faith and credit of the United States by acting to raise or suspend the debt limit as soon as possible.”

Originally found on Epoch Times Read More

Lawsuit expected to be filed suing Florida officials for cutting federal unemployment benefits

Similar lawsuits have been filed in states like Indiana, Maryland, Ohio and Texas.

JACKSONVILLE, Fla. — A lawsuit is in the works to sue state officials for cutting off federal unemployment benefits early.

The $300 Federal Pandemic Unemployment Assistance payments were discontinued in June, leaving unemployed Floridians living off a maximum of $275 per week.

Those $300 FPUC payments came from the CARES Act, and the legislation allowed those payments to last through September.

Florida, along with more than 20 other states, discontinued the payments early.

“It’s been tough for a lot of folks,” said Carla Poe, who is currently unemployed. “It feels like they pulled the rug out from under us.”

Small donations to a GoFundMe from hundreds of unemployed Floridians went a long way.

In about three days, more than $12,000 was raised to pay legal fees to sue state officials.

Attorney Scott Behren is up to the task.

Behren has received countless messages from unemployed Floridians, asking for his help.

“To cut it off in a state like Florida, where the amount was already so low, and the federal is only just making it where someone could maybe pay their bills with it, is astounding,” Behren said.

Behren plans to represent these unemployed Floridians in a lawsuit against multiple state officials. Similar lawsuits have been filed in states like Indiana, Maryland, Ohio and Texas.

“Most of the states filed lawsuits based upon a similar statute,” Behren said.

The statutes these states used are very similar to Florida State Statute 443.171 (9) STATE-FEDERAL COOPERATION which states:

In the administration of this chapter, the Department of Economic Opportunity and its tax collection service provider shall cooperate with the United States Department of Labor to the fullest extent consistent with this chapter and shall take those actions, through the adoption of appropriate rules, administrative methods, and standards, necessary to secure for this state all advantages available under the provisions of federal law relating to reemployment assistance.

“I’m optimistic based upon the other states and the outcomes of the other states with statutes that are virtually identical to that in Florida,” Behren said.

Behren says he expects to have the lawsuit filed next week.

Originally found on Read More

Ateez Is Enjoying Their Biggest Year Yet On Billboard’s World Songs Chart

Ateez are racking up hits in America faster than ever before.

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‘Very, very important’ week ahead for Yanks

July 21st, 2021

NEW YORK — The Yankees made a loud statement this past weekend, rising over challenges to pick up a series victory over the Red Sox at Yankee Stadium. Now, they’ve got to do it all over again.

The Yankees and Red Sox will meet for another four-game series beginning on Thursday, this time at Fenway Park in Boston. New York veteran outfielder Brett Gardner said that the club understands its situation and what will be asked of it.

“It’s no secret who our biggest rivals are and where we’re at in the standings,” Gardner said. “We have a very, very important week of baseball coming up this next road trip. I feel like we’ve obviously played better against them here recently right after the break. We’re looking forward to that matchup this weekend. It’s always a fun place to play.”

The Yankees opened the season winless in seven tries against the Red Sox before pulling out a rain-shortened, 3-1 victory this past Saturday, then coasting to a 9-1 rout in a nationally televised game on Sunday.

“When we were there a month or so ago [June 25-27], we obviously did not play our best baseball,” Gardner said. “I feel like we’re playing much better now. We know where we are in the standings and what we have to do to get to where we want to be. We’ve got to go up there and play some good ball and hopefully have a productive weekend.”

Boston entered Wednesday at 57-38, a half-game ahead of Tampa Bay (57-39) and seven games ahead of both Toronto (48-43) and New York (49-44). Yankees manager Aaron Boone said that, given his club’s position in the postseason chase, every series is crucial from here to the finish line.

“We’ve got to play well, period,” Boone said. “This weekend, because it’s a division opponent, is maybe more important. If we’re going to finish the season where we want to be, we know we’ve got to play a really consistent brand of baseball here over the last two-plus months.”

After the four-game set in Boston, the Yankees head to St. Petersburg for a three-game series against the Rays.

Down on the farm
Though he was passed over for Wednesday’s spot start, the Yankees see encouraging signs from right-hander Deivi Garcia, who has had three consecutive solid outings at Triple-A Scranton/Wilkes-Barre. The most recent of those came on Tuesday, when Garcia tossed six innings of three-run ball against Rochester.

“He’s certainly one of those guys in that mix of guys we considered,” Boone said. “It’s been a tough start to the year for him, and it’s definitely good to see him trending in the right direction and throwing the ball a lot better.”

Garcia, 22, is the Yankees’ No. 3 prospect per MLB Pipeline. He is 2-3 with a 6.89 ERA in 13 games (12 starts) at Triple-A and 0-2 with a 6.48 ERA in two big league starts this year.

Bombers bits
o DJ LeMahieu returned to the Yankees’ lineup on Wednesday against the Phillies after missing one game with a stomach virus.

o Chris Gittens went through an extensive pregame warmup routine to test his right Achilles, which kept him out of Tuesday’s lineup. Boone said that he considers Gittens to be an active player.

This date in Yankees history
July 21, 2006: Alex Rodriguez collected his 2,000th career hit and his 450th home run in the Yankees’ 7-3 loss to the Blue Jays at Rogers Centre. Rodriguez’s three-run blast came off A.J. Burnett, a future teammate on the 2009 World Series champion Yanks.

Originally found on Read More

Mindy Kaling Is Still Getting Paid From ‘The Office’

Mindy Kaling has revealed that she’s still receiving money from starring The Office.

The 42-year-old actress and producer opened in a recent appearance on Watch What Happens Live with Andy Cohen this week that nearly a decade after the show went off the air, she’s still receiving paychecks from re-runs of the show.

“The checks are still pretty good, they’re pretty good,” Mindy shared, before joking that she only became rich “five years ago.”

She added that the checks aren’t “buy a house good. But they’re like, help pay for your kid’s education good.”

Mindy didn’t only star on the long running NBC show as Kelly Kapoor, she was also a writer on the program, too.

She also recalled one of her pet peeves of the set – the temperature!

“We used to keep The Office set very cold,” Mindy shared. “It was, like, 60 degrees and I remember not being able to do anything about that. It’s just a little cold.”

Just recently, Mindy got an apology from Stephen Colbert. See what happened here!

Originally found on Just Jared Read More

Trump: GOP Must Stop Dems’ Remaking U.S. with Amnesty, Mail-In Voting

Trump released a statement on Wednesday, warning House and Senate Republicans of a Democrat plan to “completely change America” through the reconciliation process.

“Republicans must take seriously the effort by Democrats to completely change America through the reconciliation process,” Trump said:

Democrats are now suggesting that budget reconciliation can be used to pass mail-in ballot legislation as well as trying to include amnesty in their infrastructure package. The infrastructure package has little to do with infrastructure as we know it, bridges, roads, tunnels, etc., but is a dramatic expansion of government that will cost much more than the $3.5 trillion being discussed. Don’t let this happen! [Emphasis added]

Trump said an amnesty for illegal aliens via reconciliation will spur “a run on our southern border the likes of which we have never seen before,” calling it “a signal that says ‘Come to America now because you will be a citizen.'”

“Providing amnesty to illegal aliens, in the history of what already is considered the greatest border catastrophe, will result in disaster beyond our gravest nightmares,” Trump continued. “No country can pay this price. Will lead to ruination!”

Likewise, nationwide mail-in voting measures included in a budget via reconciliation, Trump said, “will be a disaster for our country and for conservatism.”

“There will never be a Republican elected to high office again,” Trump said:

I urge every Republican to fight this and deny Democrats a quorum if that is what it takes to make sure that the Democrats can’t use reconciliation. Republicans must push back for the sake of our country and, far less importantly, the sake of the Republican Party! [Emphasis added]

Likely voters are overwhelmingly opposed to using reconciliation to jam an amnesty for illegal aliens through Congress and support, across the board, voter ID laws to prevent election fraud.

A Monmouth University poll, released last month, revealed that 77 percent of white voters and 84 percent of non-white voters support voter ID laws. A survey by the Election Integrity Polling Project most recently found that 8-in-10 voters believe voter ID laws are necessary to protect elections and 87 percent said they are opposed to ballot harvesting.

With amnesty, recent polling found that swing state voters are much less likely to support their Senator in the future if they back amnesty via reconciliation. Majorities from 52 to 57 percent in Arizona, Georgia, New Hampshire, Nevada, and West Virginia said amnesty will encourage more illegal immigration to the U.S.

John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.

Originally found on Breitbart Read More

Florida AG Ashley Moody tests positive for COVID-19

Florida Attorney General Ashley Moody said Wednesday that she has tested positive for COVID-19.

In a tweet, she noted that she was vaccinated earlier this year. Her symptoms, she said, were mild and her family is in good health.

I received a COVID-19 vaccine earlier this year and today tested positive for the virus. Thankfully, I am only experiencing mild symptoms and my family is in good health. As I continue to self-quarantine, I want to encourage Floridians to be vigilant about their health.

— AG Ashley Moody (@AGAshleyMoody)

July 21, 2021

“As I continue to self-quarantine, I want to encourage Floridians to be vigilant about their health,” Moody wrote on Twitter.

As reported by Click Orlando, the latest report from the Florida Department of Health shows that 11,292,335 people in the state out of a population of 21,975,117 have received at least one dose of the COVID-19 vaccine.

The DOH reports there have been 2,406,809 cases of COVID-19 in Florida.

Originally found on Read More

Team USA Volleyball Player Taylor Crabb Tests Positive for Coronavirus

There are more and more cases of athletes testing positive for coronavirus ahead of the Olympics in Tokyo.

Taylor Crabb, 29, is now one of the latest names to have reportedly tested positive, via NBC News.

The Team USA volleyball player recently tested positive for COVID-19, resulting in possibly missing out on the Olympics entirely. He will be replaced by Tri Bourne, who arrived in Japan this week, via the Orange County Register.

“The health and safety of our athletes, coaches and staff is our top priority. We can confirm that a member of Team USA tested positive upon their arrival into Japan,” USA Volleyball said in a statement to CNN.

His brother, volleyball player Trevor Crabb, said his brother is “fine and healthy and should be allowed to play,” while describing the situation as “terrible” to NBC LA.

Find out which other star player also withdrew from the Olympics amid testing positive.

Originally found on Just Jared Read More

Ohio ‘Incel’ Arrested For Allegedly Plotting Sorority Mass Shooting

The alleged plot’s motives and targets were similar to a deadly 2014 incident in California.

Originally found on Forbes Read More

Bernie: Democrats Will ‘Do the Best We Can’ to Slip Amnesty in Budget

For months, Senate Democrats have eyed using the little-known reconciliation process to jam an amnesty for millions of illegal aliens through Congress with no threat of the filibuster stopping it and only 51 votes in the Senate to approve it.

During an interview with PBS News Hour, Sanders — the Chairman of the Senate Budget Committee — said Senate Democrats are “going to do the best that we can” to ensure an amnesty that would provide millions of illegal aliens with green cards, and eventual naturalized American citizenship, gets slipped into the budget.

Sanders said:

Well, we’re trying to cover people who have been in the forefront, among other things, of protecting our economy, critical care workers, dreamers, and others.

I have believed for a long time, as I think almost all the members of the Democratic Caucus and some Republicans, that the time is long overdue to pass comprehensive immigration reform and a path toward citizenship.

So we can’t do it completely, the way I would like to do it, in a reconciliation bill. There are real constraints, in terms of policy, what you can do. We’re going to do the best that we can.

Despite his self-identified socialist persona, Sanders is an unlikely champion for flooding the United States labor market with millions of newly legalized foreign workers who will be competing for jobs against America’s working and middle class — the two socioeconomic groups that have suffered the most during the Chinese coronavirus crisis.

As Breitbart News has chronicled, from his time as mayor of Burlington, Vermont, to at least 2015, Sanders has said unchecked immigration only makes America’s working-class “even poorer” because they are largely the demographic group that is forced to compete against illegal aliens and newly arrived immigrants.

In 2015, Sanders famously called open borders “a Koch brothers proposal,” a reference to the nation’s donor class and corporate elite’s endless cheerleading for amnesty for illegal aliens, increased legal immigration, and lax border controls that keep a constant flow of foreign workers arriving in the U.S. labor market.

During the 2020 Democrat presidential primary, a supporter of Sanders’ called him out during a town hall for dropping his opposition to mass immigration on the grounds that it hurts, most prominently, working and middle class Americans.

“So one issue that you have not been consistent is open borders,” the voter said:

When you first ran, you said it was a Koch brothers scheme and seemed to recognize that low wage workers being dumped into the country does not help low wage workers.

My family is at 134 percent of the poverty level. So I worked at a restaurant this summer and the dishwashers were starting at $14 an hour, teenagers. Can you please explain why you changed on that issue? Did you have to change because donors seem to want the low wage workers?

Already, current immigration levels put downward pressure on U.S. wages while redistributing about $500 billion in wealth away from America’s working and middle class and toward employers and new arrivals, research by the National Academies of Sciences, Engineering and Medicine has found.

The Congressional Budget Office (CBO) has repeatedly noted that mass immigration cuts Americans’ wages.

In 2013, CBO analysis stated that the “Gang of Eight” amnesty plan would “slightly” push down wages for the American workers. A 2020 CBO analysis stated that “immigration has exerted downward pressure on the wages of relatively low-skilled workers who are already in the country, regardless of their birthplace.”

John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here.

Originally found on Breitbart Read More