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May 22, 2023Subscribe Read in browser
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Skimm'd with a new beach read

 

"$200 million"

— The cost of the most expensive home in California now owned by Jay-Z and Beyoncé. 99 problems, but these interest rates ain't one.

 
Top Story

Will They, Won't They?

The Story

Debt ceiling talks are back on.

What's the latest?

Today, President Biden and House Speaker Kevin McCarthy (R-CA) are (again) meeting to try to iron out debt ceiling negotiations. The pressure is growing as Treasury Secretary Janet Yellen is insisting that the June 1 deadline is a hard one. This weekend, the White House has been in stop-and-go negotiations with Republican congressional leaders. A main point of contention is that Republicans want to cut back on some federal spending before raising the national borrowing limit. However, Biden and Congressional Democrats want to raise the debt ceiling now and worry about cuts later. McCarthy said both sides are "still apart" but that a recent call with Biden was "productive." All this comes as the nation is bracing for a possible default.

Should I hope for the best but prepare for the worst?

Don't panic. Experts say the chances of the US defaulting on its debt are extremely low. It's also never happened before — not even in 2011 when the country came dangerously close. Still, Congress is running out of time to come to an agreement. The House has four days this week to figure things out before it goes out of session. Economists warn that a default could jumpstart a looming recession, which could affect Social Security checks and SNAP benefits. Interest rates could reach new heights. Retirement accounts could see a drop. Plus, about 8 million workers could lose their jobs. Biden says he's exploring his options in case negotiations fail, including invoking the 14th Amendment — which might let him raise the debt ceiling without Congress. The move is expected to face legal challenges.

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Two-thirds of Americans say they're very concerned about the US defaulting on its debt. A majority also want the gov to raise the debt limit while reducing the federal budget deficit. Now, it's up to policymakers to decide how — and when — to address the looming deadline. 

 
And Also...This

What's advising against Florida…

Civil rights groups. Over the weekend, the NAACP became the latest civil rights group to advise Americans against visiting the state. The NAACP said Florida lawmakers are "openly hostile" toward Black Americans, other people of color, and the LGBTQIA+ community. In recent months, Gov. Ron DeSantis's government rejected an AP African American studies course and banned colleges from spending money on most diversity, equity, and inclusion programs. It comes days after the League of United Latin American Citizens (LULAC) issued a travel advisory for Florida after DeSantis signed a new immigration law that would require hospitals to get a patient's immigration info and require employers to ensure workers are documented. The advisories come as DeSantis is expected to announce a long-predicted run for president who's made his state ground zero for the culture wars. Now, civil rights groups are warning against travel to Florida, where tourism brought in more than $101 billion in 2021. DeSantis's office has reportedly called the advisories a "stunt."

Where things could be looking up…

Sudan. Today, the two warring factions are expected to begin a seven-day ceasefire. The northeast African country is caught in the middle of a weeks-long conflict between two rival generals who are fighting for control of Sudan. The crossfire between the two groups killed at least 700 people and left hundreds of thousands displaced. The fighting has also blocked roads and prevented humanitarian orgs from reaching people. Previous ceasefires have failed. Now, under a Saudi and US-brokered ceasefire, the two military factions have agreed to stop the crossfire, threatening civilians, and seizing humanitarian supplies. The US and Saudi Arabia put together a committee of representatives to ensure this ceasefire sticks. On Twitter, Secretary of State Antony Blinken said it's "past time to silence the guns."

Who still has work to do…

Greece's prime minister. Yesterday, conservative Greek Prime Minister Kyriakos Mitsotakis won re-election in the country. He focused on Greece's economy during his campaign, saying only his party can help push the country forward. However, he and the New Democracy party fell short of the majority needed to form a one-party government and Misotakis will likely opt against putting together a coalition government. Now, there could be another election in Greece as early as next month to consolidate his party's power. He apparently said "we will fight the next battle together so that at the next elections what we already decided on, an autonomous New Democracy, will be realized."

Who said 'double the trouble'...

Megan Thee Stallion.

Who's aiming for the stars…

Saudi Arabia's first female astronaut.

 
 

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Skimm'rs

We like to celebrate the wins, big and small. Let us know how your friends, neighbors, coworkers (and yes, even you) are making career moves, checking off goals, or making an impact in the community.

Feeling (n)ice…Eva M (VA). She was featured by US Figure Skating in honor of AAPI month. Born in Taiwan, Eva talked about how she struggled to feel like she fit in after coming to the US, but started embracing her heritage and felt empowered.

(Some) Birthdays…Mason Rudnick (NY), Gregg Brooke Henry (IL), Caryn Cookie Albertson (FL), Priscilla Morales (MD), Violette Barrington-Janvier (CAN), Talisa Rafferty (MA), Tamica Sears (AZ), Amanda Parmelee (NC), Marissa Coslov (NY), Gigi Cole-Maldonado (PA), Shelby Niketas (TX), Susan Whittier (NJ), Alyssa Dorsey (FL), Elizabeth Hernandez (AZ), Kristen Lunny (IL), Caroline Gronowski (OH)

PS: Paging all members of theSkimm. Reach out here for a chance to be featured.

 
 

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