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MSNBCW Katy July 6, 2024



that they don t want to default. they want to avoid that, but they don t agree on how to do it. mccarthy wants to hold it at hostage in return for massive cuts on discretionary programs meaning basically everything but social security and medicare which along with defense, make up the clear bulk of the budget while president biden has been adamant that no cuts are on the table. none. so what are these guys going to talk about? and how will mitch mcconnell, chuck schumer and hakeem jefferies factor in? they will also be at that may 9th meeting. does it end an agreement to disagree until this fall? in other words, a short-term deal to avoid collapse? because that is what economists are worried about, a default that will send the markets into a freefall, add rocket fuel to inflation, slash millions of jobs, cut off social security payments and veterans benefits and drag the u.s. economy into an ugly and potentially prolonged recession. no one wants that. joining me now is ....

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MSNBC Katy Tur Reports June 4, 2024 19:01:00

That they don t want to default. they want to avoid that, but they don t agree on how to do it. mccarthy wants to hold it at hostage in return for massive cuts on discretionary programs meaning basically everything but social security and medicare which along with defense, make up the clear bulk of the budget while president biden has been adamant that no cuts are on the table. none. so what are these guys going to talk about? and how will mitch mcconnell, chuck schumer and hakeem jefferies factor in? they will also be at that may 9th meeting. does it end an agreement to disagree until this fall? in other words, a short-term deal to avoid collapse? because that is what economists are worried about, a default that will send the markets into a freefall, add rocket fuel to inflation, slash millions of jobs, cut off social security payments and veterans benefits and drag the u.s. economy into an ugly and potentially ....

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