through the end of june when another, about $145 billion will help the treasury department keep borrowing for a few more weeks into the summer. that would push the whole crisis into july or august at the latest. really, no one is sure if treasury can make it to mid june. that is one of the uncertain factors is whether not congress has a genuine debt ceiling crisis on their hands in just a few weeks or if we have several more weeks over the summer to figure this out. host: i thought it was interesting that you wrote that even the date presented to members of congress, they reacted in a very, maybe not the week you would think they would. can you explain that? guest: i think a number of factors are at play there. congress can move extremely quickly when they want to. often, they let this happen at the very last minute. if it happens previously in years prior where it did ceiling -- debt ceiling came together at the very last minute. we are a default a couple days out so i would expect any sort of agreement to come together at the very last minute. it doesn't benefit either side right now to

not this monday, but the following monday, june 5th, is when the treasury department is now estimatingl run out of money to pay the government's bills. warning signs starting to flash here very clearly for the white house and the congressional negotiators, who we know have been working around the clock to try and reach an agreement, making some progress but still we know that some major sticking points remain. we will see if this lights a fire under them going forward. >> yeah. significant sticking points, as we heard from manu. so, june 5th, a week from monday. as we noted, the treasury initially said as early as june 1. there are some skeptics who question where the treasury department gets these numbers and whether politics is involved here. what more can you tell us about this new specific x-date of june 5th and how they got there? >> reporter: look, she has been very clear up until now, the treasury secretary has, that this was an early june timeline, as early as june 1 is what she was saying. she first said it was likely that that was the timeline, then, on monday, she said it wa

guest: the treasury department has already been using extraordinary measures, trying to find ways to put this off for months, frankly. the debt limit was supposed to be reached months ago. they are coming to the end of that road. the default would be catastrophic. the economy, everyone both parties agree that default would be a terrible outcome. we have already seen the brinksmanship in 2011 that led to a credit downgrade from two separate agencies. even after a deal was struck, credit agencies were so freaked out by how partisan it had become that they downgraded the united states. when we talk about the june 1 deadline, it is getting to a sweating point. the senate is on recess next week. the house is set to be on recess the last week of may. and joe biden leaves for japan in the middle of this week. for the g7. so we are looking at this kind of, these talks today are not just a reconvening. but probably a discussion of what is the plan here to get this done by the deadline. even if we don't have the details hammered out, the ship chuck schumer need to tell senators -- tough luck,

now we talk to the third party objective voice in this discussion because the treasury department has estimates of where we we will run out of cash to pay our bills. because of politics and because there are members of the opposite side, those efforts are not always interpreted as an objective and we tried to play the validating voice from the outside to give members of congress that information that they need. >> it's when the government would run out of cash on hand to meet all the obligations. right now the treasury department is using what is called extraordinary measures, it's a -- accounting maneuvers for additional time for policymakers to work out a deal. those measures have been in place since january and we expect they will run out sometime between early june and early august. so at most, months, perhaps weeks away. which is again, quite concerning. this is an analysis that -- it takes a lot of work because we are analyzing hundreds of billion dollars of cash flow that comes in and out of the government of the month. it's important to acknowledge that not even the tracker tr

the treasury department printing a $1 trillion coin, depositing it at the bed. republicans flirted with other options 12 years ago when we were in a similar situation, prioritization. the treasury picking and choosing what it can pay and what it will not pay to buy more time. that is difficult, people like jay powell have said that is not workable, the system is not hardwired that way. powell back then was a think tank guy going around washington. now he is the fed chair doing the same thing. these are all extreme options, i think they would only be ruled out if they got to the absolute precipice of things. i do not think anyone wants to see that happen. will they see movement today? may be. another question is a short-term deal, kicking the can down the road for a temporary suspension of the debt limit to buy time to go through the spending process, the normal appropriations process. biden would certainly like to do that. you heard mention of the covid money, the covid emergency is lifting and some things are going with that. title 42 is going with that. travel

tojune extended by the us treasury department to june the extended by the us treasury department tojuneffries, and the leader of the democratic majority in the senate, chuck schumer — that's according to the source. we'll have more on this across the evening. tracking those debt limit negotiations. stay with us here on bbc news. hello there. it really was a gorgeous day today across england and wales, lots of sunshine around. temperatures in west yorkshire reached 24.3 celsius, making it the warmest day of the year so far. in northern ireland and scotland, we saw more cloud for a while, producing one or two spots of rain. that was mainly due to a very weak weather front — that's heading out into the north sea. following on from that, we've got some cooler air coming around our area of high pressure from the north, so temperatures for many of us a little bit lower on sunday. we start chilly where we've got the clearer skies in eastern areas of scotland. temperatures here could be close to freezing in one or two places. more cloud coming into the north—west, that will be affecting eastern

that is concerning how to move forward here as it relates to that, i would refer you to the treasury departmentn their communications with agency, that is something they would lay out. as the treasury said yesterday, it's important to have accurate information about in-flows and out-flows to the government so they can produce an accurate forecast for congress when cash and extraordinary measure expire. so this is consistent with prior debt limit impasses, so something for sure the treasury department will have more to share on. >> we keep hearing these optimistic statements. you have noted the meeting was productive. but we are not seeing any actual progress. the speaker just said we are nowhere near a deal. why the optimism? >> look, if everyone is working in good faith and recognizes that no one is going to get, either side is going to get exactly what they want, we'll get it done. that's the way we see this. coming out of the meeting yesterday we have said this, the president said that, president and the speaker reiterated the fault is off the table so now we have to do this in good faith, w

the treasury department printing a $1 trillion coin, depositing it at the bed. republicans flirted with other options 12 years ago when we were in a similar situation, prioritization. the treasury picking and choosing what it can pay and what it will not pay to buy more time. that is difficult, people like jay powell have said that is not workable, the system is not hardwired that way. powell back then was a think tank guy going around washington. now he is the fed chair doing the same thing. these are all extreme options, i think they would only be ruled out if they got to the absolute precipice of things. i do not think anyone wants to see that happen. will they see movement today? may be. another question is a short-term deal, kicking the can down the road for a temporary suspension of the debt limit to buy time to go through the spending process, the normal appropriations process. biden would certainly like to do that. you heard mention of the covid money, the covid emergency is lifting and some things are going with that. title 42 is going with that. travel

treasury department, we _ absolutely and this is something the treasury department, we began- treasuryump and now president biden of how are - president 0bama, president trump and now president biden of how are we - now president biden of how are we really peeling — now president biden of how are we really peeling back— now president biden of how are we really peeling back the _ now president biden of how are we really peeling back the onion - now president biden of how are we really peeling back the onion and l really peeling back the onion and finding _ really peeling back the onion and finding out— really peeling back the onion and finding out where _ really peeling back the onion and finding out where these - really peeling back the onion and finding out where these monies i really peeling back the onion and . finding out where these monies are coming _ finding out where these monies are coming from — finding out where these monies are coming from for _ finding out where these monies are coming from for the _ finding out where these monies are coming from for the stretch - finding

with just six days until the treasury department estimates country will run out of money to pay its bills and face an estimated default. jarred hill is here with the latest on all of this. good morning. >> good morning, it sounds like there's progress on getting a deal in raising the debt ceiling. there is no deal yet. the head of the house financial services committee said negotiations are at a sensitive phase with sensitive issues and we're getting a clear idea of what those are. take a look. after another long day of talks, congressional republicans and white house negotiators could be inching closer to an agreement on raising the nation's debt limit. >> i made clear time and again defaulting on our national debt is not an option. >> reporter: cbs news has learned that the potential deal would increase the debt limit for two years and cap federal ding at 2023 levels for two as l ending on defense and vete programs would increase in 2024, while nondiscretionary spending on things like education and health care would decrease. the proposal would also slash some of the funding congress ap

kurds, the us treasury department imposed new sanctions against syria, with short foreign news, the us treasury department put the syrian exchange company on the sanctions list for providing monetary services to the damascus government, and sam saba, the representative of syria in the united nations, at the meeting the security council announced that the provocative actions of the united states and its allies have increased with the aim of interfering in the internal affairs of syria. al-jazeera reported the occurrence of clashes between the army forces and the rapid response of sudan in the central and northern regions of khartoum, the capital of this country. at the same time, a diplomatic source of the sudanese army sudan has suspended participation in serious negotiations. on monday evening , washington and riyadh announced an agreement between the representatives of the sudanese army and the rapid response forces to extend the ceasefire for 5 days. tons of them it has been declared critical that all the passengers of this bus were from the state of jammu and kashmir without a plac

the treasury department printing a $1 trillion coin, depositing it at the bed. publicans flirted with other options 12 years ago when we were in a similar situation, prioritization. the treasury picking and choosing what it can pay and what it will not pay to buy more time. that is difficult, people like jay powell have said that is not workable, the system is not hardwired that way. powell back then was a think tank guy going around washington. now he is the fed chair doing the same thing. these are all extreme options, i think they would only be ruled out if they got to the absolute precipice of things. i do not think anyone wants to see that happen. will they see movement today? may be. another question is a short-term deal, kicking the can down the road for a temporary suspension of the debt limit to buy time to go through the spending process, the normal appropriations process. biden would certainly like to do that. you heard mention of the covid money, the covid emergency is lifting and some things are going with that. title 42 is going with that. travel re

be another blow to the us economy on the verge of a default recession , the head of the us treasury departmentarned congressmen that the authorities are close to exhaustion emergency measures, by the way, some analysts say that in such conditions to declare a default, the states themselves will be more likely to be saved. if you believe in uh, market principles, uh, systems don't want to include uh, printing presses, how does it do? this is every time and that's exactly what this rake once comes, then you should, in theory, declare a default, and declare a moratorium on the exit. e long, but bring debt restructuring by extending the e- duration of these e-issues and reducing the space load. and actually. this e procedure will heal the entire system. but for now, the us is getting closer to a default on the federal debt and to an economic disaster, which, by the way, will affect almost the entire world to a greater extent. well, actually, so we're saving , stocking up on popcorn, and we're watching the situation. we are with you. thank you it was artyom boxes he said about the situation of the

the treasury department estimating the u.s.l go into default on june 5th, giving both science and extra four days to reach a deal. some hard-line republicans refusing to pass a bill unless their demands are met. what's at stake for millions of americans. rachel scott on the hill. terrifying moments for airline passengers coming in for a landing. opening an emergency door about 850 feet above the ground. passengers in their seats, wind within through the cabin. ten people taken to the hospital. gio benitez standing by. 42 million americans expected to drive or fly over the long memorial day weekend. more passengers expected to fly since before the pandemic. severe storms from texas to colorado could impact holiday plans. the tornado watch late today and no warning about a possible recurrence from florida to the northeast. rob marciano climbing it out. 24 hours after the founder of the oath keepers was sentenced for seditious conspiracy. two more member symptoms for their roles. one of them today in the courtroom calling her acti

information in the headquarters of the former candidates of president hillary clinton, the us treasury departmentrs ago sent an emergency warning to the leadership of congress that the country was still in danger of default on june 1, the head of department , janet, he is sure, if the limit is not raised borrowings. you already with the beginning of summer, the largest economy of the planet will not be able to service its debts with all the ensuing consequences. jubiden is expected to hold talks today with republican house speaker kevin mccarthy, biden's political opponents are pushing for the us administration to cut exorbitant spending, and the white house is strongly opposed to belt-tightening. in israel, remembers the soldiers of the red army who fought nazism, the inhabitants celebrate the day of salvation and liberation. he is celebrated by actions take place on the jewish calendar in large cities half a million soviet jews went to war, half of whom did not return home, report by sergei pashkov it sometimes seems to me that the soldiers are children from the israeli city of sturrod, who spe

that are not being clear that joe biden and the treasury department can ensure that every moment that default is not an option. when we talk about timely payment of every government grant and contract, that is different than default. that is where the definition and the debate has been and as a result, i think they are being swayed and i think they are somewhat politicized. they know what's going on and to the extent they have an opportunity to lean on the scales from the financial community, they are doing it. host: currently at the center for renewing america, the budget director at the white house in the trump administration. what was your view of the debt ceiling when you were budget director at omb before that. guest: there was always an opportunity to talk about the fiscal health of the nation. when you're in the executive branch, you're dealing with a minority into an opportunity for the other side to roll back your entire agenda. i have always believed debt limits are mission-critical to be able to hit the red button from a warning perspective on where we are fiscally. this is

the treasury department has won the government could run out of money to pay its bills if congress does not act by june, 5th, macowski is said he felt positive about what was already in the bill. it's not what's in this bill from what we've been able to achieve. we just spend less money to put us on a to get. that was oh, it has to pass the senate and get signed by the president. but i firmly believe that people, if they sit back and look at this from all of america, that's a much better product in adam fisher has more in this from washington. the music is that they're closed, but of course they're know, they're really difficult. but these are the, the areas where people on both sides of both parties have said, look the red lines and we're not going to cross them. we can't agree to that sort of thing. so they talk till about 2 o'clock this morning, their back point, capital hill over the last few hours trying to show the last todd few yards. you'll find known as we camp david wood. he's spending this holiday weekend, said that he thought the deal was close up, but then the white house,

speaker of the house of representatives, experts at goodman sachs, calculated that the us treasury department's cash supply will come to an end on june 8 or 9 if the national debt ceiling is not increased. after the remedy is over on government accounts, it will become impossible to fulfill the obligations of the federal authorities, the head of the country's finance ministry believes that this will happen as early as june 1st elena said that delaying the decision on gost lies could harm american business and negatively affect the us credit rating, the country's leadership will also suffer, as it will become question the government's ability to protect interests. security in lithuania, a scandal with suspicious spending and deputies and several ministers is gaining momentum, oh, which they cannot to report we are talking about the funds that they received while they were deputies of local councils in each of the three established journalists. cases considered amount of 10.000 euros, minimum. in connection with such proceedings the prime ministers. shamonites of lithuania delivered an ultimatum,

the cost for the treasury department to borrow dead is going up.y the economic participants saying the u.s. is becoming a riskier investment, at least for the next few months. if you buy a treasury bill and you need paid back in one or two months, maybe that's not a likely scenario. that's a tricky position to be in, especially for the country that has long been one of the safest investments in the entire world. one of the things that secretary yellen is trying to figure out is lawmakers often draw household metaphor when they talk about the finances of the country, this is like paying your car payment but not paying your utility payment for the next few days to try to make sure you have enough cash flow. >> thank you all very much. >>> coming up, a convenient target. what the attorney for oath keeper stewart rhodes said he will do next. >>> and unboxing what happened with the boxes at mar-a-lago ahead of the fbi search. new reporting from the "washington post." "washington post." (woman) with verizon's new myplan, i get exactly what i want. and on

let's discuss now with former chief economist for the treasury department, ben harris.e you uon. >> thanks for having me on. most folks don't have confidence in the president and his team. why is he confident he has the public behind him on his negotiating position here? >> let's be clear, he should never have to have this meeting in the first place. i hope that the american public understands that this is about spending, which has already been agreed to. congress has already authorized all of this spending before and it's about paying your bills. and a pretty common sense preparation, which is just pay for spending you've already authorized. >> you've been makinging that argument and other officials that argument. folks at home don't pay their credit card bills -- i've heard that for weeks. this is where the politics are today. how do you respond to those numbers and that political reality? >> my hope is that people say, look, stop playing games with my 401(k). stop playing games with my mortgage. moody's has done a lot of analysis on this. the worst-case scenario is t

record level of the us national debt exceeded the russian one by more than 100 times , the us treasury department repeatedly warned the authorities from the country about a possible default in june at the end of last year, the debt reached the mark of 31.42 trillion dollars, ranked second in the world in terms of volume japan is in third place. china with a mark of 3.75 trillion dollars, while the russian public debt amounted to 294.8 billion dollars, such was the news of the economy. have a great weekend and see you soon. morning broadcast on tv channels belarus 1 and belarus 24 continues the program for x and alexander smirnov hello, i was in the right place at the right time detectives in the capital detained a 48-year-old minsker on suspicion of theft shortly before that, the police received a statement about the loss of things from a car parked in the courtyard of a residential building, the victims said , that at home he was repairing an electronic car key and accidentally opened the trunk later found that someone had cleaned out the salon, law enforcement officers found out that the person

. >> both the treasury department and the congressional budget office warned the u.s.efaulting and that could have catastrophic consequences. >> a default on u.s. obligations would produce an economic and financial catastrophe. it would spark a global downturn that would set us back much further. it would also risk undermining u.s. global economic leadership and raise questions about our ability to defend our national security interests. >> cnn has more from washington, d.c., elena, at least, you know, they got the first step accomplished, getting the two sides together to start talking. how are these talks going? >> well, this is day four of the staff level negotiations taking place between the top congressional leaders, and the white house. as they try and figure out how they can find a compromise to raise the debt limit. now these talks are occurring after a meeting between the top four leaders in congress, and president biden was postponed on friday, and as they're struggling to find some sort of common ground here, and really, these negotiations just began in earn

the treasury department began using extraordinary measures to continue to pay the bills.and congress was racing the clock to avoid a default. at that point republicans held the majority in the senate and minority leader chuck schumer said the debt ceiling gave democrats leverage and bipartisan -- in bipartisan talks. he and then-speaker nancy pelosi strategically used a potential debt crisis to strengthen their hand in broader negotiations, which is a pretty sharp contrast with senator schumer's position today. when he was the one trying to negotiate, the debt ceiling was fair game, as lex. but when it is house republicans who are being the responsible ones by initiating a proposal to raise the debt ceiling -- and i say negotiating a negotiation hopefully -- he says it is dangerous, it is destabilizing, it is hostage-taking. the hypocrisy is palpable. the problem with democrats' argument here isn't just rhetorical. it's also impractical. from the get-go, speaker mccarthy has made it absolutely clear that a clean debt increase will not pass the house. the votes are not the

the treasury department warned a potential default can come sooner than expected. republican kevin mccarthy has said he will not extend the debt limit unless there are trillions of dollars in cuts to the federal budget. underlying inflation in the euro area slowed for the first time in months. after stripping out food and fuel, consumer prices rose from a year ago. a case for the european central bank to slow its most aggressive interest rate hiking campaign later this week. white house considering promoting federal reserve governor philip jefferson to a vice chair. a latino candidate could then be named to an open board slot. it was confirmed by the senate last year with broad bipartisan support. he would face little opposition to becoming the fed's number two. the white house national security council says russia has suffered more than 100,000 casualties since december in the fight over buckled -- a city in eastern ukraine. ukrainian ground forces say they have pushed back russian troops from some positions there. writers of some of the most popular shows on amer

so raise a debt limit for another 2 years. treasury department on the government could run out of money to pay its bills if congress doesn't act by june 5th and fisher's life for us now in washington. how close today to striking this feeling? well, the music is that they're close, but of course they're know they're really difficult. but these are the, the areas where people on both sides of both parties have said, look the red lines and we're not going to cross them. we kind of agree to that sort of thing. so they talk till about 2 o'clock this morning. they're back on capitol hill over the last few hours trying to try show the last tod few yards. joe biden, on his way to camp david wood. he's spending this holiday weekend said that he thought a deal was close at, but then the white house, a couple of hours later said look, the republicans are risking perhaps tipping america into recession, the west recession. we've ever seen those 2 positions on exclusive because they'll be a lot of blame to go around if this doesn't happen. kevin mccarthy says he's quite hopeful and he thinks they ste

the treasury department has borne, the government could run out of money to pay its bills. if congress doesn't act by june 5, an official has moved from washington, dc of the music is that they're closed, but of course they're not really difficult. but these are the, the areas where people on both sides of both parties have said, look the red lines and we're not going across them. we can't agree to that sort of thing. so they talk till about 2 o'clock this morning. they're back on capitol hill over the last few hours trying to so i show the last todd few yards. you'll bide known as we camp david wood. he's spending this holiday weekend, said that he thought a deal was close up. but then the white house, a couple of hours later said look, the republicans are risking perhaps tipping america into recession to watch the session for the scene. certainly what done it yelling. told is, is that the us we don't have money on during the 1st night because of the measures that the treasury department has taken. they've said no, it's going to be no june the 5th and not mike slip a bit,

factor in the big debt limit fight in 2011, there was this plan from the treasury department that wasn spoken about at an fomc meeting and janet yellen was then on the fed board and the assumption was that treasury would pay the principles and treasury securities first. they would forgo other payments. this is something that is politically difficult for any president to make. do they undermine the global financial system by not paying debtholders? or do they pay social security recipients? do they pay defense bills, do they pay individuals in the veteran community they get money from the government. what she said is they have not discussed this yet. obviously, what she says is they are focused on trying to get a deal done before they have to even think of doing this. guy: francine spoke to jamie dimon yesterday and he was clear in his message was get it done and the risks are too big and he wants to get rid of the debt ceiling debate in its entirety. his janet yellen talking to the banking sector within the united states and how does that conversation work? annmarie: she will be next

according to the announcement of the us treasury department, biden left his asia tour halfway and returned to washington to raise the debt ceiling before the deadline. has to agree with the congress countdown to the risk of bankruptcy the american government has less than 10 days left until the end of the deadline announced by the secretary of the treasury, warning about not increasing the debt ceiling , the fall in debt repayment will set a world record , it will delay us , it will bring the risk of weakening the leadership of the world economy, the debt ceiling that a century ago, congress determined the maximum amount that the us government can borrow, this country has reached its debt level of 31 million dollars, now the us treasury, pointing out that the government of this country may not be able to fulfill its obligations in repaying its debts, many times from she the request to agree to increase the debt ceiling is an issue that has become a dispute between the two republican and democratic parties. republican mccarthy, who is the chairman of the house of representatives, said that

the treasury department, working side by side with the federal reserve , has a plan b in case congresst's called prioritization of payments, thanks to which you can delay the default by paying interest on bonds and saving even more on others. obligations. however, prioritizing bondholders to sideline retirees and the military is a very, unsightly and unwise act , moreover, in the event of such a prioritization, one would have to bet on the continued success of regular auctions to replace treasury bonds with approaching maturities , but there is no guarantee that investors believe such a dysfunctional state every day the american default will turn into an increasingly serious threat to default. can come to us in two forms. this may be a short-term critical situation. or a long -term crisis in the consequences of both the first and the second is disastrous, but a long-term crisis is much worse anyway, the us federal reserve will have to play a critical role in containing the consequences and the main thing will be here. limit damage pain will be felt by all markets throughout the economy

the us treasury departments had informed all governments in east asia that it was strictly against an asian monetary funds. the approach prevails. no one dares oppose the united states. the hong kong conference would have been the ideal opportunity to avert the crisis. but the loans made available to the hard press countries were too small. they were smaller scale maneuvering and waiting. meanwhile, the crisis rapidly worsens. the global financial crisis of 20082009 is ultimately defeated by the us government's willingness to deploy the maximum amount of money. thus stopping panic and speculation. this political will was lacking 10 years earlier in hong kong, the as low as capital until 2007. there was a sense of arrow guns that people said, well that's the asians, and we can do it banta onto. that's a common pattern in the financial markets. most often finance man, the hong kong is the most important banking in stock exchange center in asia. when a month after the conference, there stock prices collapse. it's clear to everyone that the crisis is not over. it's only just beginning the

it urges the us treasury department in particular, to act quickly and decisively. the career was the 10s largest economy in the world. and that time as it is today, it had only a point, $9000000000.00 a some reserve. it's not the long terms last the government, it's only a few days. president clinton fiscally made a phone call to present to me on some debt. the south korea is on the financial crisis. the us presidents intervenes making it clear that korea is of a different caliber than thailand or indonesia, economically and above all deal politically. it's the best in the west against north korea and china. korea successfully competes on the world market important key industries such as the electronics, car, production and shipyards. it's major companies like thailand at borrowed heavily abroad in dollars when the exchange rate for thailand's currency, the one plummets, they are unable to repay their loans. only now at the end of november to the heads of the us administration realize they must act. the fact are changing their minds is the geo political dimension.

the treasury department said the warning underscores the need for swift bipartisan action by congress janet yellen again warned of an early june deadline to avoid default saying she will offer a more precise state to congress soon frank. >> brie jackson, thank you turning to singapore with red arrows overnight on the heels of the news jp ong, good evening over to you. >> reporter: good evening, frank. a tough day at the office. it goes back to the concerning of the dead ceiling state side when fitch decides to cut the sovereign debt to negative watch, suddenly the prospect of the default is more real for investors and investors here trying to take on some of the concerns which did weigh on markets. we start off in greater china. stocks with concerns of the significant slowdown in the second largest economy weighing on shenzhen. hang seng falling today which is w weighing on markets. it crossed over to australia and kospi decided to keep rates unchanged and households shrinking again with the lack of confidence in that country there are a couple of bright p spots in the challenging ses

the us treasury department seized on this, saying it underscored the need for swift bipartisan action. the biggest sticking point remains spending. if they don't cut enough, they won't win over republicans, but if they do too much, they will lose some democrats who say they don't want to see cuts to social programmes that help the neediest americans. meanwhile, many lawmakers left washington for the long holiday weekend while the talks continue. that was michelle fleury reporting for us. and we may have some fresh development. in the past couple of hours, the new york times is reporting that they may be closer to raising the debt limit and cut spending. and a note on us politics... any agreement on extending the debt ceiling will have to pass the republican—controlled house of representatives and the democrat—controlled senate, and that may get rather tricky, as several right—wing republicans and more than a handful of liberal democrats have said they were upset by the prospect of a compromise. in the us auto space, ford motor has agreed with tesla to allow its electric vehicle owners

the treasury department may not have enough funds to fully satisfy all of the nation's obligations as soon as june 1. so the clock is ticking. >> joining us now is our political analyst. let's start with some of the take -- sticking points for republicans. >> they want to be able to say to their base that we have made big cuts in the budget. billion away from the irs. and make it available nondiscretionary services. that will placate the democrats. it is a little bit of a juggling game. you have to make your case that we got some cuts. and the democrats need to be saying they protect people. the medicaid cuts are really the ones that are most serious. some 15 million single individuals could lose their insurance. so you show up at the emergency room. >> every side needs to claim victory in this. which is difficult. the president has made it clear that the republicans want more cuts. he does not want the middle-class hurt. what are some of the sticking points from the democratic side? >> they basically are taking the position that we passed and lifted the debt limit three times under p

. >>> up next, the treasury department running low on cash, some of the world's richest people won'tubway app today. now that's a deal worth celebrating. man, what are you u doing?! get it before it's gone on the subway app. ♪ and there he is. chaz. the rec league's self-crowned pickleball king. do you just bow down? no you de-thrown the king. pedialyte. 3x the electrolytes. the morgan stanley client experience? listening more than talking, and a personalized plan ♪ to guide you through a changing world. ♪ the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com i realized that jade was overweight. i wish i would have introduced the fresh food a lot sooner. after farmer's dog, she's a much healthier weight. she's a lot more active. and she's able to join us on our adventures. get started at betteem ♪ >>> off the political radar today, house speaker kevin mccarth

the treasury department is biding its time, trying to figure out the shell game, where to move theirround. officials warn that america's too close to a default and that americans will pay the price for this. we saw fitch ratings downgrade or warn they might have to downgrade fannie mae and freddie mac because they're government-backed mortgage giants. what is your takeaway? >> well, you said the word thankful. i'm thankful that they're talking. i'm thankful that i believe that they're going to get a deal done. but as you know, there's so many variables. things have been going sideways with the flip of a switch. should that switch occur, there is this detrimental effect to the economy where you think about the significant knock effects on domestic economy. a loss of investor confidence should that occur. increase in borrowing costs. devalue the u.s. dollar. because of volatility, consumers are going to have to prepare that things are going to get more expensive. we're talking about the debt ceiling. those in the hous have debt, they would have to look at how to knock that down because

the treasury department has won the government could run out of money to pay its bills if congress doesn't act spice, june 5th. so those were the headlines you can keep up to date with all the news. my website that is on your screen, down to 0 dot com. the news continues opt out of the with the state you off the law will, along with, with neither side, willing to negotiate because the ukraine war becoming a forever war is america's global leadership. increasingly fragile. what will us politics look like as we headed the presidential election of 2024. quizzical look. us politics, the boston line. the, the the people were sending you the day. you mean, maybe we did it in the meeting with me that you said i'm going to thank you. let's see, the, the, the pool, the the you. how likely that if there was, if this morning, if the support thing, what the hell, i know the country go to the polls, all correct, little space. so once again, politics in east timor is dominated by a man who i respected for their boss in the country's 1st going just tendons from an altercation around 40 percent of people

william: the treasury department estimates the u.s. department will run out of money as soon as june 1, this continues next tuesday at the white house when speaker mccarthy and senator mcconnell meet president biden. on thursday, there was another reminder of the extreme repercussions. four members of the proud boy were found guilty of seditious conspiracy. joining me to discuss this, heather caygle, managing editor at punchbowl news, asma khalid from n.p.r. and anita couple ar from politico and phil mattingly. thank you for being here. could you just remind us of the stakes on this debt limit fight. what is speaker mccarthy's current position? he is a deal maker. but he wants a deal. and there are three parts of that deal. and take back to his conference. andrea: say look what i got us. that cld be reform. it's not that foggy. but the white house doesn't seem to understand kevin mccarthy. and i think they are counting on him to go up to the brink and back down and say, whoa, whoa, whoa. he is saying no, i will not break down. remarkabl

the united states government the treasury department will pay higher interest rates forever. urnly have experience with this in 1979, there was a technical default because the treasury computers didn't work properly. ten years later, economists calculated interest rates were still higher because of that one brief incident and if we do it again because of a policy difference between the white house and congress, i think the situation will be vastly worse. >> yeah, the last time they brought us to the brink of this in 2011, moody's downgraded the u.s. from aaa-plus to aaa-minus and this was catastrophic, that sent wall street tumbling and it was a disaster, that was close to a default. i want to talk about that policy difference. republicans are insisting that the only way they're willing to raise the debt limit is if they get work requirements, let's start with facts, work requirements are already law, you can't get food stamps you have to be working unless you're taking care of a disabled person, you're a child. when they say they think people who are getting quote/unquote wel

you have the treasury department trying to figure out how to keep enough money in the system to makehat the country can continue to make all its payments by early june. and at the same time we're running out of days for the white house and congress to come to a deal to make sure we don't default. we're really ticking days away here. we have just a couple more days to get through the weekend for the house and senate to come to a vote even once there is an agreement in place. that gets us really close to thursday. >> i think it is so interesting to hear that small business owner in that piece talk about already people are pulling back, grocery stores for example pulling back on what kinds of things they are buying. we're already seeing an economic i guess preparation for this event whether it happens or not. >> this is just another version of what we've often talked about before, which is uncertainty. this is another layer of so much unknown that could really bring absolutely catastrophic consequences. it is no comfort to small business owners or employees or families to know that we a

the treasury department has been moving money around and delaying some investments in certain retirement accounts, but at some point here it could be social security recipients, active duty military that will get ious if they don't figure it out. >>> officials have now identified all eight people killed at the dallas area outlet mall over the weekend. and their ages from 37 to just 3 years old. the toddler and both his parents were shot dead leaving behind a 6-year-old boy. we are also learning much more about the gunman in this, the second deadliest mass shooting in the u.s. so far this year. josh campbell is on the ground in allen, texas. >> i was just kind of full of adrenalin. it was a terrifying moment. >> reporter: eight dead and seven others wounded after another mass shooting on american soil. >> report from the police is we have multiple upon multiple victims. >> reporter: this time at an outlet mall in allen, texas about 25 miles north of dallas. >> gunshots, it sounded like warzone. >> reporter: the 33-year-old gunman killed at the scene by a police officer may have been drive

that is when the treasury department says that the u.s. could face an unprecedented default on its bills. still, hardliners are pushing back. >> you will see people across the political spectrum that are opposed to this. >> reporter: thickets through the house rules committee today, he could go to the full house as early as wednesday. >> so it is not just some of the most conservative republicans have been criticizing this bill, but also very progressive democrats. that includes robert handa has expressed some concerns over the s.n.a.p. are food stamps program. other bay area democrats have not yet publicly commented on the bill. we know that white house officials have been holding virtual briefings with house democrats to try to walk them through the details of some of these provisions and address any of their concerns. amanda? >> all right. we will see what happens with that. thank you so much. >>> jess? >> r temperatures are still a little bit below average. at least in the heart of san francisco, low 60s this afternoon. not too much of

prevent the debts from falling behind, did not reach a constructive agreement , and the us treasury department's plan with this trip to asia left it halfway and returned to washington to reach an agreement with congress on the debt ceiling increase before the deadline. the countdown to the risk of bankruptcy of the us government is less than 10 days until the end of the deadline announced by the us treasury secretary. warning about raising the ceiling debts falling would mark global debt repayment, delay us, risk undermining america's global economic leadership , the debt ceiling set by congress a century ago, the maximum amount the us government can borrow, the country is already on the $1 trillion debt page. the dollar has reached its limit. now let's eat the american treasury. the government of this country may not be able to fulfill its obligations in repaying its debts. it has repeatedly asked the congress to agree to increase the debt ceiling , an issue that has become a conflict between the republican and democratic parties and the mccarthy republic. whether the president of the us house

treasury department shared an image as an example.as an ex markings that is counterfeit as a way to try to sneak illicit drugs into the u.s. as a result of the new sanctions. no company or person in the u.s. it's allowed to do business with any of these 17 different targets. >> twitter owner and tesla ceo elon musk is overseas tonight. he is visiting china in a meeting today with the chinese foreign minister must talked about china's growing electric vehicle industry. the chinese foreign minister emphasize that companies are welcome to do business with china and said that the u.s. and chinese relations require mutual respect. the visit with musk comes as the ruling communist party attempts to revive investor interest in china's slowing economy. investors have been uneasy about doing business in china because of raids on consulting firms and that country's a strained relations with the united states. california's ban on flavored tobacco products is apparently working, according to a new study from uc irvine, californians passed prop 31