diff --git a/src/components/InsightCarousel.tsx b/src/components/InsightCarousel.tsx index de26cb0..cc9be0d 100644 --- a/src/components/InsightCarousel.tsx +++ b/src/components/InsightCarousel.tsx @@ -21,10 +21,10 @@ export default function InsightCarousel() { href: '/insights/2023-may-jobs-report' }, { - name: 'Diversity and Generative AI', - description: 'Making sure marginalized groups do not get left behind', - image: '/insights/diversity-ai.jpg', - href: '/insights/diversity-ai' + name: 'Compromise Agreement on Debt Ceiling', + description: 'Near Compromise Agreement', + image: 'https://portal.ehawaii.gov/assets/webp/page/government/federal/executive.webp', + href: '/insights/debt-ceiling-compromise' } ]; diff --git a/src/constants/insights.tsx b/src/constants/insights.tsx index c9234a9..53cf5ff 100644 --- a/src/constants/insights.tsx +++ b/src/constants/insights.tsx @@ -18,6 +18,12 @@ export const insights = [ desc: 'Surpassing expecatations, but really?', image: 'https://cdn.shopify.com/s/files/1/0746/2561/files/wall_street_1920_large.jpg' }, + { + name: 'Compromise Agreement on Debt Ceiling', + href: '/insights/debt-ceiling-compromise', + desc: 'Near Compromise Agreement', + image: 'https://portal.ehawaii.gov/assets/webp/page/government/federal/executive.webp' + }, { name: 'Better Patient Experiences', href: '/insights/better-patient-experiences', diff --git a/src/pages/insights/debt-ceiling-compromise.tsx b/src/pages/insights/debt-ceiling-compromise.tsx new file mode 100644 index 0000000..e634416 --- /dev/null +++ b/src/pages/insights/debt-ceiling-compromise.tsx @@ -0,0 +1,86 @@ +import Typography from '@mui/material/Typography'; + +import InsightPage from '../../components/InsightPage'; + +export default function DebtCeilingCompromise() { + return ( + + + Negotiations between the White House and congressional lawmakers are + intensifying as the deadline to raise the debt ceiling approaches. With + just six days remaining before the nation faces the risk of debt default, + both sides are closing in on a compromise agreement to extend the debt + ceiling for a two-year period. + + + The prospect of a deal has injected optimism into the markets, leading + to a rise in stocks on Friday morning. Meeting the Treasury Department's + June 1 deadline is crucial to avoid potential damage to the U.S. economy + and the jeopardy of essential benefits relied upon by millions of Americans. + + + House Speaker Kevin McCarthy, appearing upbeat, expressed confidence in + the progress made so far as he arrived at the Capitol on Friday morning. + Negotiators have been striving to strike a balance that would appease both + parties. Under the current proposed agreement, House Republicans would + achieve two of their top priorities in exchange for their support in + raising the debt ceiling. + + + The first priority for Republicans is to roll back baseline federal + spending for most discretionary programs in 2024. Additionally, they + seek to rescind a portion of the $80 billion allocated for the Internal + Revenue Service (IRS) as part of the 2022 Inflation Reduction Act. + By reallocating the rescinded IRS funds, the GOP aims to cover the funding + shortfall resulting from their proposed spending cuts, while ensuring + that programs like defense and veterans' health benefits remain untouched + and even receive increased funding next year. + + + While specific details are still being worked out, the trade-off + involving IRS funding is considered a crucial element of the negotiations. + House Republicans, led by Representatives Patrick McHenry and Garret + Graves, are working closely with the White House team, including Office + of Management and Budget Director Shalanda Young and Biden counselor Steve + Ricchetti, to navigate the challenging path towards a bipartisan solution. + + + The urgency of the situation was underscored by the recent announcement + from credit rating agency Fitch, which placed the United States' + triple-A status on "rating watch negative." Treasury Secretary + Janet Yellen warned that failure to raise or suspend the debt limit by + June 1 would likely result in the United States being unable to meet + its financial obligations. The potential consequences of a debt default + range from higher interest rates to a loss of confidence in the U.S. + dollar as the world's reserve currency. + + + Despite the challenges, there is still hope for a timely resolution. If + a final agreement is reached on Friday, there would be sufficient time for + the House to hold a vote on Tuesday, followed by a Senate vote on + Wednesday, just before the June 1 deadline. However, given the divided + nature of Congress, it is expected that the final bill may not garner + unanimous support from both Democrats and Republicans. + + + As the negotiations continue, it is clear that compromises will need + to be made on both sides. House Speaker McCarthy acknowledged that not + everyone would be pleased with the final outcome, emphasizing that the + legislative process operates in such a manner. + + + As the situation unfolds, further updates will be provided. + + + ); +} \ No newline at end of file