House Speaker Kevin McCarthy is confident lawmakers will pass legislation in time to avert a U.S. default after he and the president came to an agreement over the $31.4 trillion debt-limit. That’s according to Bloomberg News. WRCR market analyst Ken Mahoney of Mahoney Asset Management in Chestnut Ridge was surprised four trillion was added to the debt…
The debt ceiling vote in the House could come today, though some Republicans were considering removing McCarthy from his position as speaker, and insisting in cuts in spending. Reuters says if the Treasury Department cannot make all its payments, that could trigger economic chaos here and globally.