the emphasis is now on the education of members about a default. that s why bankers like jamie dimon of j.p. morgan chase and jane fraser of citi group met with chuck schumer along with other senators today. mr. dimon, did default come up? what was your message to the leader? what would it do to the banking system? actual default would be a disaster. it s been said over and over, you re just repeating it. are you optimistic about a deal? let them worry about that. this is where wall street meets main street. the lead negotiator spoke today at the capitol. a sticking point, workman dates for people to receive some benefits. i asked the speakfer he agreed this needed to be a bipartisan process. he said yes. again, this i believe is a promising step in the right direction. nobody will get everything that they want in these discussions. i hope nobody, nobody draws red lines in the sand. but there s now optimism that the sides can reach a deal even with the president
is about the outlines of what the budget will look like. not about whether or not we re going to in fact pay our debts. mccarthy says that they will reach a deal but says was biden has left congress in a race against the clock. you know what i told the president 105 days ago? i had no conceived notion of what to do except two things. we re not going to raise taxes and we won t pass a clean debt ceiling. but we have to spend less than what we spent last year. let s talk about that. he decided no, i shouldn t negotiate with somebody. i m going to do what i want to do. my way or the highway. president biden has appointed his top aides to carry out negotiations while at the g-7 this week. he s cancelling the second leg of his trip and hopes to get a deal finalized by the u.s. goes into deat all time. congressman jody arrington from texas joins me now. great to have you on, as always. i want to play this sound bite. we talk about this race against the clock. part of the reas
trillion could soon approach the size of the defense budget. let that sink in, neil. president biden is calling for more taxes on the rich. he speak recently in virginia beach. i want to make it clear, i m going to raise some taxes. any of you who are billionaires out there, you re going to stop paying 3%. not a joke. biden met with kevin mccarthy just once since he became speaker and with a debt of over $31 trillion, many republicans are concerned about potential cuts in national against, a time when the biden administration is arming ukrainian forces with billions in american weapons and with the threat from china increasing. the 2022 and 2023 defense budgets are 3% when the kennedy administration was spending 9% of u.s. gdp on defense, building up the arsenal which the pentagon says is aging and is needed upgrades to the tunes of billions ever dollars. and jfk cut taxes and shortly after his death. that was then. lucas thank you very much. i raised this issue with jo
ALBAWABA - In a collaborative effort, Democrats and Republicans within the US Congress have come to a consensus on a $1.59 trillion spending deal aimed
we have yet to see the video. the video will tell the tale. that is the story of wednesday, may 17, 2023. as always, the story goes on. i will see you back here at midnight on the east coast, 9:00 p.m. on the west coast. fox news at night. martha is back tomorrow. your world, neil cavuto starts right now. neil: does wall street know something the rest of us don t know in stokes soaring on hopes that a deal could be imminent on the debt front. we hall see. i m neil cavuto. this is your world. what would make stocks racing on reports that the two sides are coming together on this debt nightmare? only a couple weeks before we presumably run out of car and options. don t know if that is the case but i know chad pergram would know if we re getting anywhere near that. he s on capitol hill with more. hi, chad. good afternoon, neil.