"Treasury Secretary Yellen says she wants to get rid of the debt ceiling as McConnell threatens another default standoff in 2 months."I will not be a party to any future effort to mitigate the consequences of Democratic mismanagement," he wrote to Biden."The US just barely avoided breaching the debt ceiling and defaulting on the national debt in October, and two of the main players are sounding different tunes on the future. Republicans are already firing warning shots about another fight coming in just two months, while some Democrats are eyeing ways to defuse the GOP's increasing use of the debt ceiling as a political grenade."Treasury Secretary Janet Yellen reaffirmed her support of getting rid of the debt ceiling on Sunday, only days after Senate Minority Leader Mitch McConnell insisted that Senate Republicans will have another debt-ceiling fight in December. His efforts to derail President Joe Biden's domestic agenda could risk a first-ever default on the national debt."
"Oil Jumps Above $80, Turbocharged by Supply Shortages"The extended climb in oil prices is leaving some other industrial commodities behind, a divergence that reflects bets that energy supply shortages will offset any slowdown in the global economy."US crude rose 1.5%...closing above $80 for the first time since late in 2014 and bringing its climb since the end of last October to 125%."
"Yellen Confident Global Tax Deal Will See Passage in Congress"US Treasury Secretary Janet Yellen expressed confidence that Congress will agree to a global minimum tax deal reached by 136 countries."Ireland has become the second-richest nation in Europe (based on GDP per capita), thanks largely to two things: its low corporate tax rate and its membership of the European Union. What exactly are the Irish getting away with by not taxing corporate profits heavily?"In the USA itself, states compete with each other to lure voters and industries. Based on U-Haul data, people in the US are moving from the high-tax, high-cost "Blue" states to the more relaxed, lower-tax "Red" states."