Calls quote extraordinary measures to avoid defaulting on our debt. Which looks a lot more likely now that the most conservative wing of the Republican Party seems to have a Tightening Vice around speaker Kevin Mccarthy. If they can keep the government open, the Republican Party is gearing up for a series of investigations into President Biden. What they Just Announced a couple of moments ago, in a second. One of the investigations, the president himself, all about handdelivered to them, wrapped in a shiny bow, the white house is facing hard questions about why it was not more transparent about the discovery of classified documents, and not one, but two locations. Especially as the president himself was criticizing the former president for mishandling his own classified documents. White house lawyers say the number of documents found is small and nbc news has just confirmed what one of them was marked with. What we know about that document in a moment. And what exactly is the process b
Irwin joining us with. And kay la, i will start you with. At the windy white house there, as it relates to what were hearing from the Treasury Secretary, and from cnbc language, to Plain English here, what it means. Well, its significant because the Treasury Secretary is saying that as of early june, the federal government wont be able to pay its bills anymore. Its allowed by congress to borrow up to 31 trillion and change, but its going to hit that number next thursday. After that point, treasury is going to be looking under couch cushions to try to finds some additional money. It will be pinching pennies. And it says it will stop contributing or investing into some federal workers retirement accounts, to try to conserve some of that cash in order to avoid reaching that debt limit, or not being able to pay for allies and adversaries that hold the u. S. Debt. So certainly the Treasury Secretary is trying to call on congress and say we need a deal in the coming months. I spoke to a seni
calls quote extraordinary measures to avoid defaulting on our debt. which looks a lot more likely now that the most conservative wing of the republican party seems to have a tightening vice around speaker kevin mccarthy. if they can keep the government open, the republican party is gearing up for a series of investigations into president biden. what they just announced a couple of moments ago, in a second. one of the investigations, the president himself, all about hand-delivered to them, wrapped in a shiny bow, the white house is facing hard questions about why it was not more transparent about the discovery of classified documents, and not one, but two locations. especially as the president himself was criticizing the former president for mishandling his own classified documents. white house lawyers say the number of documents found is small and nbc news has just confirmed what one of them was marked with. what we know about that document in a moment. and what exactly is th
irwin joining us with. and kay la, i will start you with. at the windy white house there, as it relates to what we re hearing from the treasury secretary, and from cnbc language, to plain english here, what it means. well, it s significant because the treasury secretary is saying that as of early june, the federal government won t be able to pay its bills anymore. it s allowed by congress to borrow up to $31 trillion and change, but it s going to hit that number next thursday. after that point, treasury is going to be looking under couch cushions to try to finds some additional money. it will be pinching pennies. and it says it will stop contributing or investing into some federal workers retirement accounts, to try to conserve some of that cash in order to avoid reaching that debt limit, or not being able to pay for allies and adversaries that hold the u.s. debt. so certainly the treasury secretary is trying to call on congress and say we need a deal in the coming months.
developments on several fronts as we re coming on the air, a sign of an economic warning, the new formal investigation on the hill, and the deadly weather across the south. right now, we ve got the treasury secretary sending dc scrambling, warning this afternoon that congress has to raise the debt ceiling by thursday. like six days from now. otherwise, there could be some real consequences. we have our team standing by live with more on that. also this mour, republicans now launching an investigation into president biden s handling of classified documents. the white house press secretary is facing down another day of tough questions. new reporting on the time line. and a day like today, several hours in, showing how bad the damage and destruction is across the south. nine people are dead, after severe storms in alabama and georgia. we have a live report coming up. i m halle jackson in washington. and we have sahil kapur and neil