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As the clock ticks toward a possible default on the national debt, Speaker of the House Kevin McCarthy (RCalif.) and top Democrats in Washingtonas well as media allies on both sidesare locked in a staring contest over who can take the matter less seriously.

The latest development in this slow-motion train wreck was a speech McCarthy delivered Monday from the New York Stock Exchange. “Debt limit negotiations are an opportunity to examine our nation’s finances,” he said, stressing that a bill to raise the nation’s debt limit would only get through the House if it was pared with spending cuts. The House will vote on such a bill within “the coming weeks,” McCarthy promised.

So far, so good. A debt default would be an economic catastrophe for the country and should be averted at all costsbut McCarthy is right that this is a good opportunity to examine America’s out-of-control borrowing habit. Raising the debt ceiling doesn’t authorize more borrowing. It merely gives the Treasury permission to borrow funds to pay for what Congress has previously agreed to spend. But it is the moment when past congressional budgeting decisions come home to roostthe equivalent of seeing your credit card statement after a blowout vacation that you couldn’t afford. You still have to pay the bills, but it should be a wake-up call.

But while McCarthy is saying some of the right things about this situation, he still doesn’t seem to have much of a plan for what to do. Monday’s speech was devoid of specifics beyond a promise to cut spending back to last year’s levelssomething he’s been proposing since January, just weeks after the passage of a year-end omnibus bill that hiked spending across the boardand some rather vague promises about tightening work requirements for welfare programs.

Notably absent from Monday’s speech was any promise about balancing the budget in 10 years, something that had been part of the House GOP’s earlier list of demands for the debt ceiling negotiations. AsReason has previously noted, it’s pretty much impossible to make the budget balance in a decade without making serious alternations to entitlement programs including Social Security and Medicare, and McCarthy has promised not to touch those as part of the debt ceiling package.

Importantly, it remains unclear whether even this narrower list of prospective ideas can pass the GOP-controlled House. Asked in an interview on CNBC just moments after his New York speech ended, McCarthy refused to give a straight answer about whether he had enough votes for this still-murky debt ceiling package.

As Democrats were quick to point out, McCarthy’s “plan” is little more than a series of starting points for negotiations. “What we got today was not a plan,” Senate Majority Leader Chuck Schumer (DN.Y.) told NBC News after McCarthy’s speech. “It was a recycled pile of the same things he’s been saying for months.”

But, well, Democrats are just recycling the same things they’ve been saying for months too. The White House has been steadfast in refusing to negotiate with House Republicans until McCarthy presents a full-fledged budget proposal like the one President Joe Biden presented on March 9. “I don’t know what we’re negotiating if I don’t know what they want, what they’re going to do,” Biden reiterated to reporters over the weekend.

This is an unserious approach too. Both McCarthy and Biden (and everyone else involved) are well aware of why Democrats want to see a full Republican budget plan before they start negotiatingand it has very little to do with the debt ceiling. Instead, Democrats will pick apart the proposal to score political points by criticizing whatever spending cuts the House GOP outlines.

Indeed, Democrats and their allies are already eager to demagogue the bare bones of what McCarthy has outlined. Liberal Substacker Matt Yglesias says it is “irresponsible for Kevin McCarthy to run around threatening to blow up the global economy in order to snatch poor people’s health care away.” At Talking Points Memo,David Kurtz is already decrying the “draconian spending cuts” that McCarthy has proposed. That’s insane, because McCarthy’s so-called plan merely calls for rolling back federal spending to the level it was at in 2022a whole four months ago.

Here’s the really crazy thing: Even if Congress did somehow manage to hold the discretionary spending level next year, overall spending would still increase. That’s because the $1.7 trillion discretionary budget is only a fraction of federal spending. Other itemslike the so-called mandatory spending on entitlements like Social Security and Medicare as well as the rapidlyincreasinginterest costsconnected to the $31 trillion national debtwill continue to grow and drive federal deficits higher.

The crux of this problem is two-fold. First, Republicans have spent the better part of the past decade completely ignoring fiscal policywhile in many cases actively chasing out members who did care about this stuff. As a result, the GOP has very little institutional sense of what a solidly conservative federal budget would actually look like. Is there any spending plan that would get the support of all 222 Republican members right now? McCarthy doesn’t seem to know.

Second, Democrats have demonstrated an utter unwillingness to acknowledge that America has a serious borrowing problem, which must be the starting point for any negotiation about the debt ceiling regardless of what other policies may or may not end up being part of the final package. They don’t need to see a full budget proposal to acknowledge things like the Congressional Budget Office’s forecast that says the federal government is on track to spend $10.5 trillion on interest payments in the next decadeand more if interest rates remain higher than expected.

Why should Republicans put forth a budget plan when they know in advance that Democrats only want to use it to paint the GOP as a party of benefit-cutting skinflints? Why should Democrats negotiate in good faith when they know quite well that Republicans only care about fiscal responsibility when a Dem is in the White House? Neither side has much to gain from doing what the other wants, so no one moves.

But the impasse created by years of poor, myopic decision making in Washington is pushing the federal government ever closer to a dangerous cliff. McCarthy and Biden need to get serious about this, and soon.

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Suárez out at Trackhouse Racing at end of 2025

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Suárez out at Trackhouse Racing at end of 2025

CONCORD, N.C. — Daniel Suárez, the only Mexican-born driver to win a NASCAR national series race, is out at Trackhouse Racing at the end of the 2025 season.

Trackhouse and Suárez officially called the parting a “mutual decision” that allows the driver an earlier opportunity to pursue a new ride for next season.

While Trackhouse did not name a replacement in the No. 99 Chevrolet, Suárez’s departure opened the door for the team to promote teen sensation Connor Zilisch into the ride. Zilisch, who drives in the Xfinity Series for JR Motorsports, has run three Cup races for Trackhouse this season, including Saturday night at Atlanta.

Suárez has just two wins in 305 career Cup starts, and is a distant 29th in the points standings this season. The 33-year-old Suarez is in his fifth season with Trackhouse Racing and was the team’s first driver in 2021. He made NASCAR’s playoffs two times with Trackhouse.

“We took a team nobody had even heard of in 2021 and in just a couple of years we were winning races and running upfront on a weekly basis,” Suárez wrote on social media. “Just like the seasons in a year, sometimes things change and we have agreed to each go in our own direction.”

Trackhouse founder and owner Justin Marks thanked Suárez for his contributions.

“The role Daniel has played in the Trackhouse origin story and its first five years will remain a valued part of the company’s history forever,” Marks said. “His commitment, work ethic and dedication to the effort is one of the most impressive things I personally have seen in my career.”

Trackhouse Racing also has Ross Chastain and Shane van Gisbergen under contract, along with Zilisch is its development driver. Chastain has six career wins and was the 2022 Cup Series runner-up while van Gisbergen has a win this year and is in the playoffs.

Suárez, who became an American citizen last year, also has three Xfinity Series wins and one Truck Series win. His 2016 championship in the second-tier Xfinity Series made him the only foreign-born driver to win a national series title.

He made a triumphant return last month to his home country when he won the Xfinity Series race in Mexico City driving for JR Motorsports at Autodromo Hermanos Rodriguez.

Yet the balance of celebrating a homecoming with looming contract negotiations weighed on Suárez.

“It’s not the first time that I’ve been in this position. Definitely the first time with the Mexico race, but it’s not the first time that I’ve been in the position that we have to win or in the position that we have a contract negotiation in the middle of the season,” Suárez said. “It’s definitely a distraction. I won’t sit here and tell you that it doesn’t really matter. I’m trying to be as smart as possible and to put all this stuff on the side and just do my thing on the track.”

He’ll do his thing at the track in 2026 with yet another new team.

Suárez started his Cup career with Joe Gibbs Racing and has raced for Stewart-Haas Racing and Gaunt Brothers Racing. He has Cup wins in 2022 at Sonoma and last year in Atlanta.

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NASCAR’s downtown Chicago future unclear

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NASCAR's downtown Chicago future unclear

CHICAGO — When it comes to NASCAR’s upcoming return to downtown Chicago, Julie Giese has a long list of responsibilities. The track president is monitoring an ambitious construction schedule for the street course, to go along with everything else that goes into the busy weekend.

What happens next is going to have to wait.

The future of NASCAR in Chicago is murky going into its third edition on the first weekend in July. The three-year contract between the motorsports organization and the city that was announced in 2022 has two mutual options, and their fate is unclear.

Giese said there have been “good conversations” between NASCAR and the city, and there is time to work on the possibilities beyond the event.

“So really right now the focus is on let’s execute a really great 2025,” Giese said. “We’ll continue to have the conversations with the city. But right now, honestly, the more consistent conversations are the planning conversations.”

Jason Lee, a senior adviser to Mayor Brandon Johnson, praised NASCAR for its involvement in the community and its improvements with the event. He described almost parallel discussions going on inside of the organization and the city when it comes to the future of the partnership.

Johnson’s predecessor, Lori Lightfoot, was in charge when the original agreement for the weekend was finalized.

“We remain available to have any conversations about the future,” Lee said Monday. “I know they’ve been laser focused on executing this year’s event because there are lessons they’ve learned that they want to apply. And I think some of that, whether you successfully do that, will play a role in how they want to proceed.”

One possible change that could interest the city is moving to a different weekend, something it has discussed with NASCAR in the past.

“It may make more sense to move that event to a different weekend where we don’t have as many demands on our law enforcement and other emergency personnel,” Lee told the AP. “And so that’s definitely something that we’ve contemplated, but there is also some constraints in terms of other events in the city of Chicago and the NASCAR schedule.”

The Athletic reported June 18 that NASCAR was nearing an agreement to put a street race in the San Diego area next year. An announcement could come as soon as July.

Asked if she had spoken with NASCAR or anyone in the San Diego area about a Southern California street race, Giese said her focus is on Chicago. She also said she believes there is room for multiple street courses on NASCAR’s calendar.

“We have multiple road course races on the schedule,” she said. “So I mean … I’ve not ever heard where it has to be one or the other. I mean there is room. This event, we went into it that first year knowing full well it was a proof of concept. And we showed that it is possible.”

The Xfinity and Cup Series races in Chicago — held on a 12-turn, 2.2-mile course against the backdrop of Lake Michigan and Grant Park — are the main events in a festival-like weekend that also includes music and entertainment options.

It is geared as much to a new audience in one of NASCAR’s most important regions as it is to the most ardent racing fans. NASCAR used to race at Chicagoland Speedway in Joliet, a 45-mile drive from downtown, but it pulled out after the 2019 season.

“This is a top-three market for us, worldwide frankly, for NASCAR fans,” NASCAR executive Ben Kennedy said when the Chicago event was announced in 2022.

There was some concern for drivers and their teams about the course ahead of the first weekend, and it wasn’t exactly warmly received by local businesses and residents because of the street closures in a heavily trafficked area for tourists in the summer.

But organizers have shrunk the construction schedule from 43 days in 2023 to 25 this year. Based on input from fans, they also have made adjustments to the race viewing areas and moved the concert stage to the start-finish line. Admission is free for kids 12 and under on Saturday and Sunday this year.

The weekend also has won over at least some people inside of NASCAR.

“This was very different. But now it’s fun to see and hear from people in the industry that are coming in early, and they’re going to just enjoy the city for a few days,” Giese said. “The one piece that I hear from our drivers, especially, is they love just staying right at a hotel right across the street. They’re walking across Michigan Avenue and they’re at the course.”

Quite often with an umbrella. Wet weather had a major effect on each of the first two editions. Heavy rain nearly scuttled the inaugural weekend, and last year’s Cup Series race was shortened because of a rain delay and fading sunlight.

When the drivers were on the course, the racing was compelling. Shane van Gisbergen outdueled Justin Haley and Chase Elliott en route to a historic Cup victory in 2023, and Alex Bowman stopped an 80-race drought with his victory last year.

“They’ve been up against it as far as conditions are concerned,” Joe Gibbs Racing driver Denny Hamlin said. “The track has been good, it’s been racy and has passing zones and the scenery is fantastic as far as the backdrop we are racing in. There’s a lot of positives for the Chicago Street Race.

“It will probably move around in the future, but it’s in the mold in which I would like to see any street race they continue to implement in the future.”

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Elliott uses last lap to post ‘unbelievable’ win

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Elliott uses last lap to post 'unbelievable' win

HAMPTON, Ga. — Home-state favorite Chase Elliott passed Brad Keselowski on the final lap and won the crash-filled NASCAR Cup Series at Atlanta on Saturday night for his 20th career victory.

Elliott, the popular driver from Dawsonville, Georgia, earned a spot in the NASCAR playoffs with his first victory since April 2024 at Texas. It was his first win in Atlanta since 2022.

“I’ve never in my whole life, this is unbelievable,” Elliott said. “This is something I’ll remember the rest of my life.”

The race’s second crash early in Stage 2 took out many of the sport’s biggest names and left others with damaged cars. Pole winner Joey Logano, who led the first 36 laps before light rain forced the first caution, was among the many drivers caught up in the big crash.

Among others knocked out of the race: William Byron, Austin Cindric, Ross Chastain, Josh Berry, Corey LaJoie and Daniel Suarez.

“It wrecked the whole field,” Logano said. “I still don’t know exactly how it started … but it was total chaos. Cars were sideways and on the brakes. I got hit from every corner possible.”

Added Denny Hamlin, who suffered damage to his Toyota in the crash: “Some zigged. Some zagged. Most crashed.”

The Atlanta race at EchoPark Speedway, formerly known as Atlanta Motor Speedway, was the debut of the 32-driver In-Season Challenge, a five-race, bracket-style tournament.

The parade of highly regarded drivers to be knocked out so early in the race showed the perils of trying to pick NASCAR winners on a March Madness-style bracket sheet. The top two seeds were among the early casualties.

Hamlin, the No. 1 seed in the tournament, finished 31st and lost to Ty Dillon, who finished eighth.

Chase Briscoe, who held off Hamlin for his first win for Joe Gibbs Racing last week at Pocono Raceway, was the No. 2 seed before being knocked out in a crash and losing to Noah Gragson in the tournament.

A $1 million prize awaits the winner as part of a new media rights deal that includes TNT.

Elliott and Keselowski were on the front row when a caution with 33 laps to go forced a decision on whether to pit for fresh tires. Both stayed on the track, and Elliott faded following the restart until making his decisive charge at the very end.

Ryan Blaney was knocked out on a wreck late in the first stage. Christopher Bell hit the wall, triggering the crash that ended the stage with Cindric in the lead.

Cindric was involved in the bigger crash early in Stage 2. Kyle Busch, Hamlin and Bubba Wallace were among others involved in the crash.

Photo finish

Tyler Reddick beat Elliott to the finish line by 0.001 to win Stage 2 in a battle between drivers looking for their first stage win and overall victory of the season.

Weather woes

Lightning and rain delayed qualifying Friday and the Xfinity race won by Nick Sanchez late Friday. More lightning and rain threatened Saturday night’s race. Fans were encouraged to leave the stands about 90 minutes before the race due to severe weather in the area but were allowed to return as the pre-race was conducted as planned.

Up next

The Cup Series moves to Chicago for the Chicago Street Race on July 6.

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