Connect with us

Published

2 years ago

on

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.

Related Topics:
Continue Reading

Sports

Wyshynski predicts the entire 2025 Stanley Cup playoff bracket

Published

1 hour ago

on

April 19, 2025

By

Wyshynski predicts the entire 2025 Stanley Cup playoff bracket

  • Greg WyshynskiApr 19, 2025, 08:30 AM ET

    Close

      Greg Wyshynski is ESPN’s senior NHL writer.

I fully admit that most of my 2024-25 NHL preseason predictions were a waste of pixels: a collection of bad calls, faulty logic and the bold prediction that the Buffalo Sabres would make the playoffs — which should qualify me for some sort of cognitive examination.

But I got something right: The two teams I predicted would battle in the Stanley Cup Final are part of the 2025 NHL postseason bracket. However, after 82 games of data, results and analysis, I’ve decided to punt on one of those picks while remaining ride-or-die on the other one — most likely to my detriment, given their current predicament.

Here is how the Stanley Cup playoffs will play out, from the opening round through the last game of the Final. I apologize in advance for spoiling the next two months for you, as obviously all of this is going to happen exactly to script and none of these picks will be incorrect.

Let’s all enjoy the best postseason in sports together, no matter how it goes.

Continue Reading

Sports

Stanley Cup playoffs picks: Every first-round series, plus Cup champion, Conn Smythe Trophy

Published

1 hour ago

on

April 19, 2025

By

Stanley Cup playoffs picks: Every first-round series, plus Cup champion, Conn Smythe Trophy

The 2024-25 NHL season is officially in the rearview mirror. Sixteen of the league’s teams have made the postseason bracket, and 16 have been eliminated.

Before the first-round series begins, ESPN’s experts have identified their picks for each matchup, along with the team that will win the Stanley Cup in June and the player who will win the Conn Smythe Trophy (playoff MVP).

More: Full schedule
Megapreview
Lapsed fan’s guide
Betting intel
Contender flaws

Atlantic Division

Sean Allen: Maple Leafs in seven
Blake Bolden: Maple Leafs in six
John Buccigross: Maple Leafs in seven
Ryan Callahan: Maple Leafs in six
Cassie Campbell-Pascall: Maple Leafs in five
Sachin Chandan: Senators in six
Meghan Chayka: Maple Leafs in five
Ryan S. Clark: Senators in seven
Linda Cohn: Maple Leafs in six
Rachel Doerrie: Maple Leafs in six
Ray Ferraro: Maple Leafs in seven
Emily Kaplan: Maple Leafs in six
Tim Kavanagh: Maple Leafs in five
Peter Lawrence-Riddell: Maple Leafs in five
Steve Levy: Maple Leafs in six
Vince Masi: Senators in seven
Victoria Matiash: Maple Leafs in six
Sean McDonough: Senators in six
Mark Messier: Maple Leafs in six
Mike Monaco: Maple Leafs in five
Arda Öcal: Maple Leafs in six
Kristen Shilton: Maple Leafs in six
Bob Wischusen: Maple Leafs in six
Greg Wyshynski: Maple Leafs in five

Consensus prediction: Maple Leafs (20 of 24 picks)

Sean Allen: Panthers in six
Blake Bolden: Lightning in seven
John Buccigross: Lightning in seven
Ryan Callahan: Lightning in seven
Cassie Campbell-Pascall: Panthers in six
Sachin Chandan: Lightning in five
Meghan Chayka: Lightning in six
Ryan S. Clark: Panthers in seven
Linda Cohn: Lightning in six
Rachel Doerrie: Lightning in seven
Ray Ferraro: Lightning in six
Emily Kaplan: Lightning in seven
Tim Kavanagh: Lightning in seven
Peter Lawrence-Riddell: Lightning in seven
Steve Levy: Panthers in seven
Vince Masi: Lightning in six
Victoria Matiash: Panthers in six
Sean McDonough: Lightning in seven
Mark Messier: Lightning in seven
Mike Monaco: Lightning in six
Arda Öcal: Panthers in six
Kristen Shilton: Lightning in seven
Bob Wischusen: Lightning in seven
Greg Wyshynski: Lightning in seven

Consensus prediction: Lightning (18 of 24 picks)

Metropolitan Division

Sean Allen: Capitals in six
Blake Bolden: Canadiens in six
John Buccigross: Capitals in seven
Ryan Callahan: Capitals in five
Cassie Campbell-Pascall: Capitals in five
Sachin Chandan: Capitals in five
Meghan Chayka: Capitals in five
Ryan S. Clark: Capitals in six
Linda Cohn: Capitals in six
Rachel Doerrie: Capitals in five
Ray Ferraro: Capitals in five
Emily Kaplan: Capitals in 6
Tim Kavanagh: Capitals in five
Peter Lawrence-Riddell: Capitals in five
Steve Levy: Capitals in five
Vince Masi: Capitals in six
Victoria Matiash: Canadiens in seven
Sean McDonough: Canadiens in six
Mark Messier: Capitals in six
Mike Monaco: Capitals in six
Arda Öcal: Canadiens in seven
Kristen Shilton: Capitals in seven
Bob Wischusen: Canadiens in seven
Greg Wyshynski: Capitals in five

Consensus prediction: Capitals (20 of 24 picks)

play

1:58

Ovechkin tells McAfee his chase for the goal record was great for hockey

Alex Ovechkin joins “The Pat McAfee Show” to discuss his achievement of surpassing Wayne Gretzky as the all-time goals leader and the impact on the game.

Sean Allen: Hurricanes in five
Blake Bolden: Devils in seven
John Buccigross: Hurricanes in seven
Ryan Callahan: Hurricanes in five
Cassie Campbell-Pascall: Hurricanes in six
Sachin Chandan: Devils in six
Meghan Chayka: Hurricanes in five
Ryan S. Clark: Hurricanes in seven
Linda Cohn: Devils in seven
Rachel Doerrie: Hurricanes in six
Ray Ferraro: Hurricanes in six
Emily Kaplan: Hurricanes in seven
Tim Kavanagh: Devils in seven
Peter Lawrence-Riddell: Hurricanes in six
Steve Levy: Devils in seven
Vince Masi: Hurricanes in seven
Victoria Matiash: Hurricanes in six
Sean McDonough: Hurricanes in seven
Mark Messier: Hurricanes in seven
Arda Öcal: Devils in six
Kristen Shilton: Hurricanes in four
Bob Wischusen: Hurricanes in six
Greg Wyshynski: Hurricanes in six

Consensus prediction: Hurricanes (17 of 23 picks)

Central Division

Sean Allen: Jets in five
Blake Bolden: Jets in six
John Buccigross: Jets in seven
Ryan Callahan: Jets in six
Cassie Campbell-Pascall: Jets in five
Sachin Chandan: Jets in four
Meghan Chayka: Blues in six
Ryan S. Clark: Jets in seven
Linda Cohn: Jets in six
Rachel Doerrie: Blues in seven
Ray Ferraro: Jets in seven
Emily Kaplan: Jets in six
Tim Kavanagh: Jets in seven
Peter Lawrence-Riddell: Jets in six
Steve Levy: Jets in seven
Vince Masi: Jets in seven
Victoria Matiash: Jets in six
Sean McDonough: Jets in five
Mark Messier: Jets in six
Mike Monaco: Blues in seven
Arda Öcal: Blues in six
Kristen Shilton: Jets in six
Bob Wischusen: Jets in six
Greg Wyshynski: Jets in five

Consensus prediction: Jets (20 of 24 picks)

Sean Allen: Stars in seven
Blake Bolden: Avalanche in six
John Buccigross: Avalanche in seven
Ryan Callahan: Avalanche in seven
Cassie Campbell-Pascall: Avalanche in seven
Sachin Chandan: Avalanche in six
Meghan Chayka: Avalanche in six
Ryan S. Clark: Stars in seven
Linda Cohn: Avalanche in six
Rachel Doerrie: Avalanche in six
Ray Ferraro: Avalanche in six
Emily Kaplan: Avalanche in seven
Tim Kavanagh: Stars in seven
Peter Lawrence-Riddell: Avalanche in seven
Steve Levy: Avalanche in seven
Vince Masi: Avalanche in five
Victoria Matiash: Avalanche in six
Sean McDonough: Avalanche in six
Mark Messier: Avalanche in five
Mike Monaco: Avalanche in six
Arda Öcal: Avalanche in seven
Kristen Shilton: Avalanche in six
Bob Wischusen: Avalanche in six
Greg Wyshynski: Stars in seven

Consensus prediction: Avalanche (20 of 24 picks)

Pacific Division

Sean Allen: Wild in seven
Blake Bolden: Golden Knights in five
John Buccigross: Golden Knights in seven
Ryan Callahan: Golden Knights in six
Cassie Campbell-Pascall: Golden Knights in six
Sachin Chandan: Golden Knights in five
Meghan Chayka: Golden Knights in five
Ryan S. Clark: Golden Knights in six
Linda Cohn: Golden Knights in six
Rachel Doerrie: Golden Knights in six
Ray Ferraro: Golden Knights in five
Emily Kaplan: Golden Knights in sixe
Tim Kavanagh: Golden Knights in five
Peter Lawrence-Riddell: Golden Knights in five
Steve Levy: Golden Knights in five
Vince Masi: Golden Knights in six
Victoria Matiash: Golden Knights in six
Sean McDonough: Golden Knights in five
Mark Messier: Golden Knights in five
Mike Monaco: Golden Knights in six
Arda Öcal: Golden Knights in five
Kristen Shilton: Golden Knights in five
Bob Wischusen: Golden Knights in six
Greg Wyshynski: Golden Knights in five

Consensus prediction: Golden Knights (23 of 24 picks)

Sean Allen: Kings in six
Blake Bolden: Kings in seven
John Buccigross: Kings in seven
Ryan Callahan: Kings in six
Cassie Campbell-Pascall: Oilers in seven
Sachin Chandan: Kings in seven
Meghan Chayka: Oilers in six
Ryan S. Clark: Oilers in seven
Linda Cohn: Kings in seven
Rachel Doerrie: Kings in seven
Ray Ferraro: Kings in seven
Emily Kaplan: Oilers in seven
Tim Kavanagh: Kings in five
Peter Lawrence-Riddell: Kings in seven
Steve Levy: Kings in seven
Vince Masi: Oilers in seven
Victoria Matiash: Kings in six
Sean McDonough: Kings in seven
Mark Messier: Oilers in six
Mike Monaco: Oilers in six
Arda Öcal: Oilers in six
Kristen Shilton: Oilers in six
Bob Wischusen: Kings in seven
Greg Wyshynski: Oilers in six

Consensus prediction: Kings (14 of 24 picks)

play

1:05

Mark Messier: The Kings are going to be a problem for the Oilers

Mark Messier explains why the Kings are a different team this year and present a bigger challenge to the Oilers.

Stanley Cup

Sean Allen: Maple Leafs
John Buccigross: Avalanche
Ryan Callahan: Golden Knights
Cassie Campbell-Pascall: Avalanche
Sachin Chandan: Avalanche
Meghan Chayka: Golden Knights
Ryan S. Clark: Golden Knights
Linda Cohn: Jets
Rachel Doerrie: Avalanche
Ray Ferraro: Golden Knights
Emily Kaplan: Golden Knights
Tim Kavanagh: Golden Knights
Peter Lawrence-Riddell: Golden Knights
Steve Levy: Golden Knights
Vince Masi: Lightning
Victoria Matiash: Jets
Sean McDonough: Golden Knights
Mark Messier: Oilers
Mike Monaco: Avalanche
Arda Öcal: Maple Leafs
Kristen Shilton: Avalanche
Bob Wischusen: Jets
Greg Wyshynski: Stars

Prediction breakdown: Golden Knights (9), Avalanche (6), Jets (3), Maple Leafs (2), Lightning (1), Oilers (1), Stars (1)

Conn Smythe (playoff MVP)

Sean Allen: Mitch Marner
John Buccigross: Brock Nelson
Ryan Callahan: Jack Eichel
Cassie Campbell-Pascall: Cale Makar
Sachin Chandan: Nathan MacKinnon
Meghan Chayka: Jack Eichel
Ryan S. Clark: Jack Eichel
Linda Cohn: Connor Hellebuyck
Rachel Doerrie: Nathan MacKinnon
Ray Ferraro: Jack Eichel
Emily Kaplan: Jack Eichel
Tim Kavanagh: Jack Eichel
Peter Lawrence-Riddell: Jack Eichel
Steve Levy: Jack Eichel
Vince Masi: Brayden Point
Victoria Matiash: Connor Hellebuyck
Sean McDonough: Jack Eichel
Mark Messier: Connor McDavid
Mike Monaco: Nathan McKinnon
Arda Öcal: William Nylander
Kristen Shilton: Nathan MacKinnon
Bob Wischusen: Connor Hellebuyck
Greg Wyshynski: Jake Oettinger

Prediction breakdown: Jack Eichel (10), Nathan MacKinnon (3), Connor Hellebuyck (3), Mitch Marner (1), Brock Nelson (1), Cale Makar (1), Brayden Point (1), Connor McDavid (1), William Nylander (1), Jake Oettinger (1)

Continue Reading

Sports

Oilers D Emberson, 24, secures 2-year extension

Published

1 hour ago

on

April 19, 2025

By

Oilers D Emberson, 24, secures 2-year extension

Apr 19, 2025, 04:32 PM ET

The Edmonton Oilers on Saturday signed defenseman Ty Emberson to a two-year contract extension with an average annual value of $1.3 million.

The Oilers, who will take on the Los Angeles Kings in the first round of the Stanley Cup playoffs, inserted 24-year-old Emberson into the lineup for 76 games this season, recording two goals and 13 point. He averaged 15:07 of ice time for the defending Western Conference champions.

Emberson has turned into a reliable force on Edmonton’s penalty-kill unit, and figures to maintain that role vs. the Kings. Emberson led all Edmonton defensemen in total short-handed time on ice (149:32) this season, while ranking second in hits (125).

The Kings will host Game 1 on Monday night at 10 p.m. ET at Crypto.com Arena.

Continue Reading

Trending