From Washington: A Government Shutdown on the Horizon?

House Speaker Kevin McCarthy appeared on Fox News last week, signaling an impeachment inquiry may be coming for President Biden. This follows a months-long trend, with various Republican lawmakers calling for accountability and further investigation into the President and his family’s business and foreign business dealings. Even as the GOP teases possible impeachment, the President will still have to work with Congress to approve a federal budget by the end of September or face a government shutdown. Fox News Senior Congressional Correspondent Chad Pergram explains how Speaker McCarthy has tested the water for impeachment and what’s in jeopardy of being cut from federal spending as a government shutdown looms.

For decades China has been purchasing portions of the United States’ debt, ultimately earning the title of the largest foreign owner of U.S. Treasury securities. However, they forfeited their status after decreasing their holdings by more than nine percent, just under one trillion dollars. As tensions between the two countries continue to grow, many are concerned about the consequences of owing China money. President of the Committee for a Responsible Federal Budget, Maya MacGuineas explains the national security risks posed by foreign entities buying up American debt and why China’s economic turmoil has impacted their decision to pull back.