Index Investing News
Wednesday, April 22, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Thriller ends, McCarthy elected House Speaker in 15th attempt

by Index Investing News
January 8, 2023
in World
Reading Time: 3 mins read
A A
0
Home World
Share on FacebookShare on Twitter


WASHINGTON: Republican Kevin McCarthy was elected speaker of the US House of Representatives early on Saturday, after making extensive concessions to rightwing hardliners that raised questions about the party’s ability to govern. The 57-year-old Californian suffered one final humiliation when Representative Matt Gaetz withheld his vote on the 14th ballot as midnight approached, prompting a scuffle in which fellow Republican Mike Rogers had to be physically pulled away.
McCarthy’s victory in the 15th ballot ended the deepest congressional dysfunction in over 160 years. But it sharply illustrated the difficulties he will face in leading a narrow and deeply polarized majority. He won at last on a margin of 216-212. He was able to be elected with the votes of fewer than half the House members only because six in his own party withheld their votes —not backing McCarthy as leader, but also not voting for another contender. As he took the gavel for the first time, McCarthy represented the end of President Joe Biden’s Democrats’ hold on both chambers of Congress. “Our system is built on checks and balances. It’s time for us to be a check and provide some balance to the president’s policies,” McCarthy said in his inaugural speech, which laid out a wide range of priorities from cutting spending to immigration, to fighting culture war battles.
McCarthy was elected only after agreeing to a demand by hardliners that any lawmaker be able to call for his removal at any time. That will sharply cut the power he will hold when trying to pass legislation on critical issues including funding the government, addressing the nation’s looming debt ceiling and other crises that may arise. Republicans’ weak performance in November’s midterm elections left them with a narrow 222-212 majority, giving outsized power to the right-wingers who opposed McCarthy’s leadership.
Those concessions, including sharp spending cuts and other curbs on McCarthy’s powers, could point to further turbulence in the months ahead, especially when Congress will need to sign off on a further increase of the United States’ $31. 4 trillion borrowing authority. Over the past decade, Republicans have repeatedly shut down much of the government and pushed the world’s largest borrower to the brink of default in efforts to extract steep spending cuts, usually without success. Several of the hardliners have questioned McCarthy’s willingness to engage in such brinkmanship when negotiating with Biden, whose Democrats control the Senate. They have raged in the past when Senate Republicans led by Mitch McConnell agreed to compromise deals.





Source link

Tags: 15thattemptelectedEndsHouseMcCarthySpeakerThriller
ShareTweetShareShare
Previous Post

$500 million for NYC casino shows what scheme is really about

Next Post

LRE® on Tour – January 6, 2023

Related Posts

The Costly Illusion of the Golden Dome – The Cipher Brief

The Costly Illusion of the Golden Dome – The Cipher Brief

by Index Investing News
April 21, 2026
0

OPINION — “The Golden Dome for America strategy remains centered on affordable and scalable capabilities. In the short-term, we will...

The Grocery Bill Is Calm – The AgriFood System Is Not — Global Issues

The Grocery Bill Is Calm – The AgriFood System Is Not — Global Issues

by Index Investing News
April 17, 2026
0

If you are reading commodity price movements as evidence that the closure of the Strait of Hormuz has been absorbed...

New U.S. autonomous Squire Seaglider conducts test flight

New U.S. autonomous Squire Seaglider conducts test flight

by Index Investing News
April 13, 2026
0

Key PointsREGENT confirms successful ground-effect flight of its autonomous Squire defense Seaglider in the United States on April 13, 2026.Squire...

Can global supply chains recover from the Iran war? | US-Israel war on Iran

Can global supply chains recover from the Iran war? | US-Israel war on Iran

by Index Investing News
April 9, 2026
0

Conflict upends flow of critical raw materials for manufacturing, aviation and technology.The United States and Iran may have agreed to...

Artemis II crew will see total solar eclipse during moon flyby

Artemis II crew will see total solar eclipse during moon flyby

by Index Investing News
April 5, 2026
0

The crew is expected to lose contact with Earth for about 40 minutes Monday while they're behind the far side...

Next Post
LRE® on Tour – January 6, 2023

LRE® on Tour - January 6, 2023

Bye Bye 1991-2022 — Puppet Masters — Sott.net

Bye Bye 1991-2022 -- Puppet Masters -- Sott.net

RECOMMENDED

S&P 500 adds ~0.8% for the week amid favorable inflation data, start of Q1 earnings (SPY)

S&P 500 adds ~0.8% for the week amid favorable inflation data, start of Q1 earnings (SPY)

April 15, 2023
Lean Times Require Real Estate Pros To Lean In. Here’s How

Lean Times Require Real Estate Pros To Lean In. Here’s How

March 23, 2023
Just Listed | 18931 Sweet Pepper Court

Just Listed | 18931 Sweet Pepper Court

October 22, 2023
Tesla, Chevron, ServiceNow, Levi Strauss, IBM and more

Tesla, Chevron, ServiceNow, Levi Strauss, IBM and more

January 26, 2023
Why India should lead Africa’s integration with the global economy

Why India should lead Africa’s integration with the global economy

August 13, 2023
Provide and demand for fentanyl

Provide and demand for fentanyl

December 1, 2024
Cosmopolitan highlights Cariloha for Best Socks

Cosmopolitan highlights Cariloha for Best Socks

July 15, 2023
Playtika to lay off 600

Playtika to lay off 600

December 9, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In