CNBC's Joe Kernen calls out Mnuchin for criticizing Bitcoin

21 Juillet, 2019, 05:55 | Auteur: Auguste Feret
  • CNBC's Joe Kernen calls out Mnuchin for criticizing Bitcoin

On Thursday, during an interview on CNBC, Mnuchin said the Trump administration, House and Senate have agreed on raising the federal borrowing limit for two years and have set budget cap numbers for 2020 and 2021.

In a CNBC interview, Mnuchin described the spending levels as "top-line" numbers, which would leave appropriations committees to allocate the funding.

Mrs. Pelosi told reporters Thursday the deal is "alive" and that she believes Mr. Mnuchin speaks for the administration. But if Democrats in the House of Representatives refuse to sign off on a big package of spending offsets, then they could be forced to decide whether to pass a short-term debt ceiling increase to avoid a financial crisis in just a few months.

Under the "most conservative scenario", he said, the US would run out of borrowing authority by the start of September. The two plan to talk again on Wednesday after days of ongoing negotiations.

"Our conversations are continuing". "We've been very firm though about a decision".

"We're working hard", Mnuchin said.

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Reaching an agreement also eliminates the possibility of a repeat government shutdown when the current budget year ends September 30. President Trump ended up on the losing end of a record 35-day partial shutdown last December and January.

Conservative forces in the White House and among House Republicans do not like the way the deal is shaping up.

Also Thursday, a crop of Senate Republicans urged the president to stand by his pledge to veto any budget deal that uses add-ons, or "riders", to erode federal pro-life policies, such as the longstanding Hyde Amendment barring the use of taxpayers funds for abortion, and a ban on D.C.'s use of local funds for elective abortions. The alternative is to run the government on autopilot, a prospect that alarms the Pentagon and its allies.

Many policy experts and officials within the US government are growing increasingly concerned with just how much power Bitcoin could grant rogue and potentially unsafe regimes, and one official within the US Treasury Department recently explained that exchanges must stop countries that are under sanctions from utilizing crypto.

The talks have gone on for weeks but took on new urgency as deficit estimates worsened, creating an unacceptable risk of default in early to mid-September.

Mnuchin has said that under one of the Treasury Department's most conservative estimates, the USA will be at risk of defaulting on payment obligations in early September - before lawmakers are scheduled to return from their summer recess on Sept. 9.



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