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The Latest Breaking News from CBO

Debt ceiling: Senate races to wrap up Biden-McCarthy deal before default deadline

Fast action is vital if Washington is to meet next Monday’s deadline when Treasury has said the U.S. will start running short of cash to pay its bills, risking a devastating default.

Chicago Sun-Times

After sailing though House on bipartisan vote, Biden-McCarthy debt ceiling deal now goes to Senate

After sailing through the House on a bipartisan vote, the debt ceiling and budget cuts package now goes to the Senate

The Independent UK

Republicans get their IRS cuts; Democrats say they expect little near-term impact

While Republicans seek to make good on campaign promises to cut IRS funding through the proposed debt ceiling and budget cuts package now moving through Congress, Democrats are offering assurances that the spending cuts will have little impact on the federal tax collector

The Independent UK

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House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate

The deal passed by a bipartisan coalition, despite pushback from conservatives and progressives, restricts spending for two years, suspends the debt ceiling until 2025 and imposes work rules for older people receiving food aid.

Chicago Sun-Times

US House passes bipartisan bill to raise debt ceiling, avoid default

Lawmakers agreed on a bill that looks to avoid a catastrophic default of the United States. The text will now go to the Senate for approval.

France 24

Senators Want To Declare Fentanyl a National Security Threat

Plus: SCOTUS won't hear Reddit sex trafficking case, debt deal would increase spending on SNAP benefits, and more...

Reason

CBO says debt ceiling deal would cut deficits by $1.5 trillion over the next decade

Congressional forecasters say the debt ceiling deal struck by President Biden and House Speaker Kevin McCarthy over the weekend would reduce deficits by about $1.5 trillion over the next decade.

WEKU

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Changes to food aid in debt bill would cost money, far from savings GOP envisioned

A Republican attempt to expand work requirements for federal food aid in debt legislation moving through Congress would increase federal spending by $2.1 billion over 10 years — far from the cuts GOP lawmakers had envisioned

The Independent UK

Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government

Even with new spending restraints included in the congressional debt limit deal, the U.S. government’s deficits are still on course to keep climbing to record levels over the next few decades

The Independent UK

Tiktok prankster Mizzy released on bail after ‘breaching criminal behaviour order’

Bacari-Bronze O’Garro, also known as Mizzy, previously pleaded not guilty to three breaches of order imposed for posting a “prank” video online

The Independent UK

Teenager bailed after court appearance over TikTok ‘prank’

Bacari-Bronze O’Garro, also known as Mizzy, appeared at court on Tuesday morning and was given conditional bail, a court official said.

The Independent UK

TikTok prankster Mizzy set free on bail ahead of July trial

A TikTok prankster accused of breaking a court order with social media videos has been set free on bail after his mother agreed to have him home.

Evening Standard

Man banned from swearing in Wales and England

He is subject to a criminal behaviour order that he recently breached and police said 'There comes a point when you have to say enough is enough'

Wales Online

Man banned from swearing in city centre after bringing 'misery' to locals

Ian Churchill, 38, has 27 criminal convictions for a variety of offences which were committed in Ellesmere Port, Merseyside, and Chester in Cheshire

Daily Mirror

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Liverpool Echo

Call the police if you hear this man swearing

Police said the prolific offender had brought misery to the city

AFP

Markets sink as US debt talks stutter, fuelling default fears

Hong Kong (AFP) - Stock markets tracked losses in Wall Street on Wednesday as investors grow increasingly concerned about stalled US debt ceiling talks aimed at averting a painful default.

AFP

Markets sink as US debt talks stall, fuelling default fears

Hong Kong (AFP) - Stock markets tracked losses in Wall Street on Wednesday as investors grow increasingly concerned about stalled US debt ceiling talks aimed at averting a painful default.

AFP

Asian markets sink as US debt talks stall

Hong Kong (AFP) - Asian markets tracked losses in Wall Street on Wednesday as investors grow increasingly concerned about stalled US debt ceiling talks to avert a painful default.

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Axios

Biden and McCarthy's shared debt ceiling math problem

“It’s one thing to strike a deal, then you got to pass it."

Roll Call

Parties scramble for deal on debt limit, budget - Roll Call

Democratic and Republican staff negotiators spent the weekend and a good part of Monday trying to get on the same page in debt limit talks.

Roll Call

CBO sees 'significant risk' of debt limit breach before June 15 - Roll Call

The Congressional Budget Office on Friday warned of a "significant risk" the U.S. will run out of cash and borrowing authority by June 15.

Reason

Biden Falsely Bragged About Lowering the Budget Deficit. Now, It Is Predictably Rising Again.

Last year, Biden was trying to take credit for "the largest drop ever" in the federal budget deficit. Now, the deficit is almost three times as large as it was a year ago.

Daily Mirror

Shoplifter banned from UK town centre mocked for looking 'very guilty' in mugshot

Daniel Scoffield has been banned from stores in his hometown for three years after he was issued with a Criminal Behaviour Order for a string of shoplifting offences

Reason

Vivek Ramaswamy Is Wrong About the National Debt

We can't grow our way out of its ruinous economic impact. The only way forward is to cut spending.

Reason

Biden's Student Loan Plan Could Cost Twice as Much as Projected

Unlike the Education Department's estimates, a CBO analysis considers how the new rules will encourage more students to take out loans they won't be able to pay back.

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