Treasury Secretary Janet Yellen has warned that the United States has reached its legal borrowing capacity and must now rely on "extraordinary measures" to avoid a catastrophic default. President Joe Biden and House Republicans are at odds over how to address the situation, and it is uncertain whether the United States can sidestep a potential economic crisis. The Treasury Department is urging Congress to raise the debt limit as soon as possible to avoid a potential economic crisis.
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Donald Trump has requested that his Facebook account be reinstated after it was blocked in response to the U.S. Capitol riot in January 2021. His campaign has argued that the ban has "dramatically distorted and inhibited the public discourse." Meta's expert-led oversight board has criticized the ban, and Trump has access to his Twitter account again. It is yet to be seen if Meta will accept Trump's request and what terms and conditions will be attached.
The U.S. government is set to reach its statutory debt limit on Thursday, prompting the Treasury Department to take “extraordinary measures” to pay the bills. Treasury Secretary Janet Yellen has warned that failure to meet the government’s obligations would cause irreparable harm to the U.S. economy, and it is now up to Congress to act in a timely manner to increase or suspend the debt limit in order to prevent default. The current debt limit showdown could define the tenure of the new GOP majority and the final two years of President Joe Biden’s term.
Following the death of 29-year-old Tyre Nichols in police custody in Memphis, Tennessee, the Department of Justice and FBI have launched a civil rights inquiry. The family of Nichols is demanding answers, including the release of body camera footage, and have planned a series of protests over the Martin Luther King Jr. holiday weekend. The investigation is ongoing, and the family and activists are hoping for answers soon.
The costume and party supplies chain Party City has filed for Chapter 11 bankruptcy protection, and is in the process of an expedited restructuring that will substantially lower its debt and free up cash. The company's 800+ stores and website will remain open, and its franchise stores, subsidiaries outside of the U.S., and foil balloons Anagram business are not part of the restructuring. The filing comes as the U.S. retail industry continues to suffer from persistently high inflation and a pullback in customer spending.
The U.S. Capitol Police have investigated 7,501 potential threats against members of Congress in 2022, a historically high number but slightly down from the previous two years. The agency is continuing to investigate potential threats and has implemented additional security measures, such as increased surveillance and National Guard troops, to protect the Capitol complex and its members. They are also working to increase public awareness of the need to report any suspicious activity or potential threats.
The U.S. Department of Justice has filed a one-sentence notice with the federal court in El Paso, announcing that they will not seek the death penalty for Patrick Crusius, who is accused of fatally shooting nearly two dozen people in a racist attack at a West Texas Walmart in 2019. Crusius is charged with federal hate crimes and firearms violations, as well as capital murder in state court, and could still face the death penalty if convicted. The trial is expected to begin in October, and the sentence he could face is currently unclear.
Matt Dolan, a Republican state senator and owner of the Cleveland Guardians, has announced his candidacy for the 2024 U.S. Senate race in Ohio, challenging Democratic incumbent Sherrod Brown. Other Republicans looking at the race include Ohio Secretary of State Frank LaRose and Bernie Moreno.