Page 2 - aruba-today-20230420

A2 UP FRONT
Thursday 20 april 2023

Biden blasts GOP ‘wacko notions’ amid debt limit standoff

to “take default off the by not meeting with him; Both men are veterans of
table and let’s have a real Biden counters that Mc- the nasty debt limit battle
serious conversation.” Carthy has already “threat- of 2011, when Biden was
The speaker took to the ened to become the first vice president and McCar-
House floor shortly before speaker to default on our thy was a relatively new
Biden spoke Wednesday national debt” unless he member of the House Re-
and detailed his GOP plan. gets what he wants in the publican leadership. They
It would, among other pro- budget. know the risks of even edg-
visions, claw back billions Complicating things for ing close to the debt limit
of unspent COVID-19 re- McCarthy, he is facing deadline, such as the first-
lief funds, rescind money pressure not to give ground ever downgrade of the
to boost the Internal Rev- from conservatives in his ra- U.S. credit rating that oc-
enue Service, and stop zor-thin House majority who curred that summer. For all
Biden’s effort to cancel up earlier this year delayed his the posturing, the markets
Speaker of the House Kevin McCarthy, R-Calif., holds an event to $20,000 in student loan elevation to the speaker- generally assume as of now
to mark 100 days of the Republican majority in the House, at the debt for millions of borrow- ship. that a deal will be reached
Capitol in Washington, Monday, April 17, 2023. ers. But Biden contends that as it has in the past.
Associated Press The California Republican spending cuts would put But as they’ve talked past
Continued from Front beat nation.” argues excess government an unacceptable strain on each other, they’ve rarely
He pointedly noted that the spending is driving up infla- the government’s ability to talked with each other.
Wednesday’s split-screen GOP congressional leader tion, empowers China and meet its constitutional re- The president and the new
presentations vividly dis- had kicked off the week threatens the future of So- sponsibility to stand behind Republican speaker sat
played how Biden and Mc- by heading to Wall Street cial Security and Medicare. its obligations. The GOP’s down in early February, but
Carthy are talking to two to outline his conditions for Biden and McCarthy, who faith in tax cuts has blown have had little substantive
very different Americas. raising the country’s bor- need to come together for up the deficit, he says. communication since. The
At the union hall, focused rowing limit. the sake of the U.S. econ- Under the Republican pro- White House, instead, has
on everyday voters, the Commenting in kind, Mc- omy, are playing out dia- posal, the debt limit would pushed McCarthy publicly
president said that strictly Carthy said, “President metrically opposing strate- be extended into next to release a GOP budget
limiting government spend- Biden is skipping town to gies to different audiences, year, McCarthy said. He plan that details its pro-
ing programs could hurt a deliver a speech in Mary- each wagering he’ll win pressed the White House posed cuts — which Demo-
middle class that’s already land rather than sitting out in the end. to negotiate a compro- crats believe will be anath-
struggling to afford basic down to address the debt To the extent the two men mise with GOP lawmakers, ema to voters.
needs. ceiling.” have engaged each other noting that voters elected Meanwhile, the White
And demanding budget- Indeed, Biden is declin- — with no active negotia- a divided Congress in the House is standing with
cutting concessions in ex- ing to negotiate the issue tions so far — it has been November midterms. Democrats on Capitol Hill
change for paying the na- as long as McCarthy insists only to provide fodder for So far this year, he said, who overwhelmingly insist
tion’s debts is irresponsible, on linking it to big federal attacks. Biden “has been avoiding that no concessions be
Biden said, declaring that spending restraints. McCarthy says Biden is the issue for 77 straight days made in exchange for lift-
“America is not a dead- He challenged McCarthy “bumbling” into a default and counting.” ing the debt limit.q

Gov’t: Prudential illegally denied life

insurance claims

customer had been paying practice in underwriting out.Between at least 2017
into the plan for years. supplemental life insur- and 2020, Prudential would
Many employers offer what ance contracts where the then deny any claims on
is known as supplemental insured is required to fill out the life insurance policy,
life insurance as an em- a form showing they are despite collecting premi-
In this file photo taken Aug. 2, 2005, a Prudential Financial sign ployee benefit, which al- in good health before be- ums, citing a lack of "evi-
on the marquis direct customers to the company inside an lows an employee to pay ing covered by employer- dence of insurability" form.
office building in Salt Lake City. for additional life insurance sponsored supplemental Under the terms of the set-
Associated Press coverage out of their pay- life insurance.According tlement, Prudential must
The Associated Press plan participants, the De- check. The settlement be- to the settlement, Pruden- pay out a life insurance
NEW YORK (AP) — Pru- partment of Labor said tween Prudential of New- tial collected premiums on claim if premiums were col-
dential Financial illegally Wednesday, the latest ark, New Jersey, and the some of these participants lected despite having no
denied more than 200 life case where a life insurer U.S. government deals with going back in some cases evidence of insurability,
insurance claims despite was found to be denying what is known as "evidence to 2004, despite not having the Department of Labor
collecting premiums from claims even though the of insurability," a common the appropriate form filled said.q