“The debt trajectory is unsustainable”

Plus, China claims victory over the Covid-19 pandemic. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

The US could default on its debt by July; Beijing says it has beaten the Covid-19 pandemic.   Tonight's Sentences was written by Jariel Arvin. TOP NEWS Lawmakers have until summer to fix the debt ceiling Alex Wong/Getty Images The nonpartisan Congressional Budget Office on Wednesday warned the US could default on its loans between July and September unless lawmakers raise or suspend the federal debt ceiling. [Washington Post / Tony Romm] If the US defaults on its loans, it would wreak economic havoc for most Americans, and global markets. [USA Today / Candy Woodall] The CBO also cautioned the Treasury Department could fail to pay the government's bills even sooner if the IRS misses April tax revenues. [Associated Press / Fatima Hussein, Josh Boak, and Kevin Freking] Republicans want Democrats to agree to cut spending in exchange for raising the $31.4 trillion limit; however, President Joe Biden wants the GOP to lift the debt ceiling without conditions. Formal negotiations have yet to begin. [CNBC / Christina Wilkie] The office also forecast US budget deficits to average $2 trillion per year over the next decade, largely fueled by high interest rates and government spending. [Reuters / David Lawder and Richard Cowan] China declares Covid victory Chinese officials claimed a "decisive" victory over the Covid-19 pandemic after 800,000 critically ill patients and 200 million others recovered from the virus. [Associated Press] In 2022, Chinese provinces spent more than $50 billion to contain and treat the coronavirus before Beijing abandoned its "zero-Covid" policy in January 2023. [Reuters] Though China claims an official Covid-19 death toll of just over 80,000, health experts estimate up to 1.5 million people died from the virus in the past two months. [New York Times / James Glanz, Mara Hvistendahl, and Agnes Chang] Meanwhile, a group of elderly retirees in Wuhan protested cuts to health care benefits the government enacted during the pandemic. [BBC / Stephen McDonell]  Support our work   Reader gifts help keep Vox and newsletters like Sentences free for all. Support our work with a gift today. Give MISCELLANEOUS The special grand jury weighing 2020 election interference in Georgia recommended perjury charges for unnamed witnesses. [Vox / Ian Millhiser] A suspect is in police custody after one person was killed and three others injured in a shooting at an El Paso, Texas, shopping mall Thursday. [CNN /  Elizabeth Wolfe] The world's largest natural ice skating rink remains closed this winter amid unusually warm temperatures in Ottawa, Canada. [Washington Post / Kelsey Ables] YouTube CEO Susan Wojcicki is stepping down from her post after nine years of running the video platform. [Vox / Peter Kafka] VERBATIM "The debt trajectory is unsustainable. ... at some point, something has to give — whether it's on spending or revenue." [CBO director Phillip Swagel on the report's release / AP] LISTEN TO THIS The Ukraine war: past, present, and future Since Russia's invasion, thousands have died, millions have been displaced, and the world has felt the ripple effects of the war. After a year of fighting, is anyone winning? What's next for Ukraine, Russia, and the nations' respective allies? Jonquilyn Hill sits down with Vox's Jen Kirby and Jonathan Guyer to find out.   Listen now   ▶ Read more from Vox This Penn professor has been offending minorities for years. Will tenure save her? How Biden could surpass Trump's record on judges The Supreme Court hears two cases that could ruin the internet The radical proposal to let Medicare and Social Security lapse, explained How crypto failed Black investors This email was sent to punjabsvera@gmail.com. Manage your email preferences or unsubscribe. If you value Vox's unique explanatory journalism, support our work with a one-time or recurring contribution.   View our Privacy Notice and our Terms of Service.   Vox Media, 1201 Connecticut Ave. NW, Floor 12, Washington, DC 20036. Copyright © 2023. All rights reserved.