We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Why former Trump Treasury secretary Steve Mnuchin is making a last-minute plea to Mitch McConnell

1 24 84

Donald Trump's secretary of treasury Steven Mnuchin reportedly held private meetings with Sen. Minority Mitch McConnell, R-Ky., to resolve the current debt impasse – but his efforts failed, with McConnell reportedly concerned that too high of a debt limit would threaten the nation's economic integrity.

The development, first reported by The Washington Post, comes on the heels of a now months-long standoff between Democrats and Republicans over the alleged potential for Biden's infrastructure deal to cause dangerous levels of inflation. According to a Tuesday analysis by Moody's Analytics, a federal default could spell a loss of six million jobs within the U.S. economy and is predicted to double the unemployment rate to 9%. During the Trump administration, the Trump national debt climbed by about $8 trillion under........

© Salon

Get it on Google Play