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U.S. hits debt limit, starts dipping into pensions

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(Reuters) – U.S. Treasury Secretary Timothy Geithner told Congress he would start tapping into federal pension funds on Monday to free up borrowing capacity as the nation hits the $14.294 trillion legal limit on its debt.

The U.S. Treasury will issue $72 billion in bonds and notes on Monday, pushing the nation right up against its borrowing cap at some point during the day, a Treasury official said.

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Geithner said he would suspend investments in two government retirement funds to give the U.S. Treasury additional room to borrow.

“I will be unable to invest fully” in the civil service retirement and disability fund and the government securities investment fund, he said in a letter to congressional leaders.

The Treasury has said the suspension of the investments and other measures it could take would give the government until about August 2 before it will start defaulting on obligations, such as paying bond investors.

Congress is in charge of increasing the debt ceiling, but Republicans are demanding deep cuts to federal spending for the price of their support in doing so.

Geithner reiterated previous pleas for action. “I again urge Congress to act to increase the statutory debt limit as soon as possible,” he said.

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(Reporting by Rachelle Younglai; Editing by Theodore d’Afflisio)

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Republicans defended ‘a vile scoundrel’ who is ‘racist’ and ‘a petty tyrant’ — and it wasn’t Donald Trump

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President Donald Trump's defense attorneys were blasted for their defense of a different president on Tuesday.

"I mean, of course Trump's lawyers are defending Andrew Johnson. Of course," noted MSNBC anchor Chris Hayes.

"Johnson was a vile scoundrel and a drunk and a racist and a petty tyrant whose presidency brought blood and shame upon this nation," Hayes continued. "That's the kindest characterization I could muster."

The host linked to a 2019 piece on Johnson that he wrote for The New York Times as a book review of "The Trial of Andrew Johnson and the Dream of a Just Nation by Brenda Wineapple.

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There are 51 votes to approve calling witnesses in Trump impeachment trial: PBS

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After pieces of John Bolton's manuscript leaked to the press confirming President Donald Trump's bribery of Ukraine, Republicans have turned to support the witnesses they once opposed.

Sens. Mitt Romney (R-UT) and Susan Collins (R-ME) both voted against witnesses and were leaning against them until Bolton's manuscript was leaked to the press after it was turned over to the White House for approval.

PBS News Hour reporter Lisa Desjardins tweeted Monday evening that the news tipped the scales and there were officially 51 votes to approve witnesses.

https://twitter.com/LisaDNews/status/1221951089647538177

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2020 Election

State Department retaliated against NPR by kicking reporter off Mike Pompeo’s plane: report

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The U.S. State Department appears to be retaliating against National Public Radio (NPR) after Secretary of State Mike Pompeo suffered a caught-on-tape meltdown following an interview with NPR "All Things Considered" co-host Mary Louise Kelly.

According to PBS "Newshour" reporter Nick Schifrin, the State Department kicked NPR diplomatic correspondent Michele Kelemen off of Pompeo's jet.

"State Department removes NPR’s Michele Kelemen from Sec. Pompeo plane--where she was scheduled for a pool radio rotation--during upcoming trip to London, Kiev," Schifrin reported.

AFP State Department correspondent Shaun Tandon blasted the move on behalf of the State Department Correspondent's Association.

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