Donald Trump loses debt ceiling war as government avoids shutdown, Biden signs relief bill into law

Image Image Credit Sarah Meyssonnier / Contributor Image Size landscape-medium Congress narrowly averted a government shutdown with the passage of a stopgap funding bill shortly after midnight on Saturday (Dec. 21). According to CNN, President-Elect Donald Trump was “frustrated” that his demand for a debt ceiling increase was dropped from negotiations. The 11th-hour deal provides…

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Why Trump suddenly cares about the U.S. debt ceiling

As the U.S. Congress scrambled to come up with a spending bill to avoid a government shutdown, U.S. president-elect Donald Trump shocked many lawmakers by demanding that any such bill must also increase the country’s debt ceiling. He insisted that any deal must include that provision for the debt ceiling, the legislative limit on the amount of national debt the country…

Thai banking sector to weather government’s debt relief programme

Interestingly, some banks could potentially emerge as net beneficiaries if they receive subsidies for previously provisioned loans.   Compared with the extensive borrower-relief measures implemented during the Covid-19 pandemic, this scheme’s modest scope may have limited effectiveness in addressing Thailand’s substantial household debt, which stood at 90% of GDP as of June. The continuation…