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Showing posts with the label avoid

What the US could do about Social Security to avoid the same fate as France

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The scene abroad is unfolding as the United States will soon have to address its own retirement system. With strikes raging throughout France in response to a push to raise the nation's retirement age, government officials across the Atlantic Ocean may want to take steps to avoid similar chaos in the event that Social Security becomes insolvent. Last-ditch talks between Prime Minister Elisabeth Borne and leaders of France's largest trade unions faltered on Wednesday. Union representatives emerged after less than an hour deeming the meeting a "failure" and calling on the public to join Thursday's strike. Millions have taken to the streets in recent months in opposition to the pension reform, with protests at times shutting down schools, public transit and iconic cultural attractions like the Eiffel Tower and the Louvre. Mounds of garbage piled up on the sidewalks and were set ablaze. Violent clashes have been documented between demonstrators and police. Frédéri...

Biden and McCarthy meeting on debt ceiling, weeks away from deadline to avoid crisis

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Biden will meet Tuesday with Kevin McCarthy and other congressional leaders -- as a fast-approaching deadline looms to raise the debt ceiling or face default President Joe Biden will meet Tuesday afternoon with congressional leaders at the White House -- as a fast-approaching deadline looms to either increase the nation's borrowing limit or risk an unprecedented and potentially devastating debt default that would ripple across the global economy. Tuesday's meeting will be the first time since February that Biden has sat down with House Speaker Kevin McCarthy to discuss the debt and spending. The intervening months have been filled with back and forth, with Biden leading Democrats in pushing for a raise to the debt ceiling "without conditions." McCarthy and other Republicans, meanwhile, continue to say they will only agree to raise the borrowing cap if Biden also agrees to some federal spending cuts and budget changes. Both sides have repeatedly insisted they don...