The Daily Money: Chicago gets a new mayor in Brandon Johnson but DC gets same debt impasse

Happy Monday! It's Medora in Chicago, where our new mayor, Brandon Johnson, officially takes office today.

While I listen to the optimistic message our new mayor is trying to provide, I'm also starting the week with some disappointment that the brief sign over the weekend that Democrats and Republicans were finally nearing a debt ceiling deal proved, maybe, to be false.

Over the weekend, President Joe Biden said he thought the White House and congressional leaders could hammer out a deal to raise the debt ceiling. That glimmer of hope though was dimmed after Speak of the House Kevin McCarthy said he thinks the sides are still “far apart" and the White House isn't "talking anything serious.” 

Sigh, back to the drawing board...

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from Paste BN. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.