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Efforts to prevent the United States reaching its debt limit and to avert a potentially catastrophic default on loan repayments on Wednesday move to the House of Representatives, where the vote on the proposal to raise the debt ceiling takes place.

President Joe Biden and leader of the House of Representatives, speaker Kevin McCarthy, had spent the Monday memorial day holiday shoring up support among Democrats and Republicans respectively for the agreement.

The pair had agreed a plan on Saturday for the debt limit to increase and for spending caps and work requirements to be introduced. The agreement between the leaders must now gain approval of the two chambers of congress in less than a week before the default deadline is reached on Monday.

A single opposition vote could derail progress through congress and bring the US into its first ever default, with potentially disastrous consequences for the global economy.

What’s happening this week?

Members of the Republican majority House of Representatives are to vote on the proposed agreement on Wednesday. If approved, the proposal will move to the Democrat-controlled Senate on Friday.

But it first faces an uphill battle in the House as Republican representatives have already voiced their opposition.

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Ten far right leaning House Republicans are expected to vote no, believing controls on spending in the agreement to be insufficient. Republicans generally seek to shrink, rather than expand, the country’s debt.

Some Democrats too are unhappy with the deal. The deal’s planned 3.3% increase in defence spending may lead to members of both parties seeking amendments to make sure military spending rises in line with inflation, which in the US is just below 5%.

Passage in the House on Wednesday is key to bringing the vote to the Senate on Friday.

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What’s in the debt ceiling deal?

The main purpose of the deal is to increase the US debt limit from $31.4trn (£25.3trn). The agreement does this by suspending the borrowing limit until January 2025 – after the next US presidential elections – rather than setting a new level.

Biden and the Democrats have made concessions to Republicans in the hopes they will back a deal. As Republicans are sceptical of government spending and seek smaller government, the deal promises spending cuts and policy concessions.

Quite how deep those spending cuts are depends on who you ask.

The White House is saying government spending would come down by $1trn, though official figures have not been released. The New York Times are reporting cuts of $136bn (£109.7bn) will be made.

Under the agreement, some social welfare recipients will be subject to new work requirements.

The bill would also end the student loan freeze Biden introduced and require former students to recommence payments.

It also revokes funding for the US tax collection authority, the IRS. Democrats had dedicated $80bn for the authority to hire more employees to boost tax enforcement, collecting more funds to implement state spending plans.

Ultimately the agreement is trying to stop a government shutdown. A deal is needed because any extension, or pause in the debt limit, needs the approval of congress.

Why does defaulting matter?

As the world’s largest economy has never before defaulted the exact consequences are uncertain but are likely to be catastrophic to the US and global economy.

The US would run out of money and no longer be able to pay its bills. Civil servant wages, social welfare payments, health insurance – known as Medicare – would go unpaid.

If the US no longer pays interest on its bonds, IOUs it issued to raise funds, it would default on debt payments.

The country’s credit rating would go down If it defaults on debt payments. A vital way the country raises money – selling bonds – could be at risk as markets will see US government debt as insecure and charge more to lend to the US.

Economic research organisation Moody’s Analytics said a prolonged period where US bills can’t be paid would lead to a nearly 20% drop in stock prices, economic contraction of 4% and the loss of more than seven million jobs.

The White House Council of Economic Advisers estimated the economy could shrink by as much as 6.1% after such a prolonged period.

Global shocks

The country would likely enter recession, which would harm the global economy as the US trades with so much of the world and is the bedrock of the worldwide financial system.

A fall in the value of US bonds would also harm economies across the world as investors could become concerned about other countries defaulting and seek to be paid more to lend to other nations.

US bonds and stocks are owned by pension funds across the world and with a drop in their values would come a drop in pension values.

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US Treasury Secretary Janet Yellen

When could default happen?

To prevent default an agreement must be reached by Monday 5 June, which the US Treasury Secretary, Janet Yellen, set as the deadline to raise the debt ceiling beyond the current $31.4trn (£25.3) limit.

A date as early as 1 June had been thought to be the default date before the precise deadline was set by Ms Yellen.

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Number of NYC fire department first responders to die of 9/11-related illnesses reaches 343 – matching amount killed on day of attacks

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Number of NYC fire department first responders to die of 9/11-related illnesses reaches 343 - matching amount killed on day of attacks

The number of first responders from the New York City Fire Department to have died from illnesses related to 9/11 has reached 343 – matching the number who died on the day of the attacks.

Hilda Vannata, an emergency medical technician, died from pancreatic cancer on 20 September this year, while retired firefighter Robert Fulco died of pulmonary fibrosis on 23 September, Fire Commissioner Laura Kavanagh has said.

She added that both illnesses were a result of “time they spent working in the rescue and recovery at the World Trade Center site”.

“With these deaths, we have reached a somber, remarkable milestone. We have now suffered the same number of deaths post September 11th as we experienced that day when the north and south towers fell. Our hearts break for the families of these members, and all who loved them,” Ms Kavanagh said in a statement.

“Our responsibility to our FDNY (Fire Department of New York) colleagues extends far beyond what we asked of them on September 11th and in the days and months that followed during rescue and recovery.”

Exposure to the toxic materials in the aftermath of the terror attack has been linked to heightened risk of cardiovascular disease, respiratory disease, cancer, and other diseases.

Ms Kavanagh said: “The toll of these illnesses on our FDNY responders continues to grow and includes not only the 343 who have died since 9/11, but also the 11,000 who suffer from WTC-related diseases, including 3,500 with cancer.”

Hilda Vannata died from cancer more than 20 years after 9/11. Pic: Fire Department of New York
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Hilda Vannata died from cancer more than 20 years after 9/11. Pic: Fire Department of New York

Robert Fulco died from  pulmonary fibrosis. Pic: Fire Department of New York
Image:
Robert Fulco died from pulmonary fibrosis. Pic: Fire Department of New York

She added that the department’s “commitment to their service and sacrifice must remain as unshakeable for the next two decades as it has been for the last two”.

“So many of our members showed up for us that fateful day, and so many were lost. The legacy we create for them is one of honour, and one of promise. That is why we continue to advocate for the survivors, and we will not stop pushing until all our members have the care they deserve, for the rest of their lives,” Ms Kavanagh wrote.

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More than 71,000 people are reported to be enrolled in the World Trade Center Health Registry, which seeks to track the health of 9/11 first responders and other people caught up in the attacks.

Workers who were in either of the World Trade Center buildings and people who lived in surrounding properties are among those who have also suffered health problems as a result of the atrocity.

Nearly 3,000 people were killed when al Qaeda terrorists hijacked passenger planes and flew them into the Twin Towers of the World Trade Center in New York, the Pentagon HQ in Washington. Another hijacked plane crashed in a Pennsylvania field.

The attack marked the largest loss of emergency personnel in US history.

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Bob Menendez: Democrat senator accused of bribery says $480,000 in cash found at home was from his personal savings

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Bob Menendez: Democrat senator accused of bribery says 0,000 in cash found at home was from his personal savings

A US senator facing corruption charges says nearly half a million dollars in cash which authorities discovered in his home was from his personal savings – and not from bribes.

Democrat Bob Menendez also said the $480,000 (£393,000) – allegedly found stuffed into envelopes and hidden in clothing, closets and a safe at his home – was being kept on hand for emergencies.

“This may seem old-fashioned, but these were monies drawn from my personal savings account based on the income that I have lawfully derived over those 30 years,” said the veteran New Jersey senator, who has been charged with bribery.

Sen. Bob Menendez speaks during a news conference on Monday, Sept. 25, 2023, in Union City, N.J. Menendez defiantly pushed back against federal corruption charges, saying cash authorities found in his home was from his savings account and was on hand for emergencies, and wasn't bribe proceeds. (AP Photo/Andres Kudacki)
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Menendez speaks during a news conference on Monday. Pic: AP

Federal agents who carried out the search of his home in 2022 also found gold bars worth more than $100,000 (£82,000), prosecutors said. Another $70,000 was discovered inside his wife’s safety deposit box, they said.

Rejecting calls for him to resign – including from Senate majority leader Chuck Schumer – Menendez added in a news conference: “I recognise this will be the biggest fight yet.

“But as I have stated throughout this whole process, I firmly believe that when all the facts are presented, not only will I be exonerated, but I still will be the New Jersey’s senior senator.”

Menendez, 69, made the speech at Hudson County Community College’s campus in Union City – where he grew up.

It came after he announced his decision to temporarily step down as chairman of the Senate Foreign Relations Committee following the charges.

He and his wife, Nadine Menendez, are accused of accepting hundreds of thousands of dollars in cash, gold and a luxury car from a trio of New Jersey businessmen in return for a variety of corrupt acts, according to an indictment, which was unsealed on Friday.

The indictment alleged Menendez used his clout to interfere in three criminal cases, pressured US agriculture regulators to protect an associate’s business interests, and used his position as chairman of the Foreign Relations Committee to influence US policy on Egypt.

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Prosecutors claim he met Egyptian military and intelligence officials, passed on non-public information about employees at the US embassy in Cairo and was the ghostwriter of a letter on behalf of Egypt asking his Senate colleagues to release a hold on $300m (£246m) worth of aid.

Addressing his relationship with Egypt, he suggested he had been tough on the country over its detention of Americans and other “human rights abuses”.

Federal investigators allege Sen. Bob Menendez, received bribes in the form of gold bars. Pic: USDC Southern District of New York
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Prosecutors say Menendez received bribes in the form of gold bars. Pic: USDC Southern District of New York


Federal investigators allege Sen. Bob Menendez, received bribes in the form of gold bars. Pic: USDC Southern District of New York
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Pic: USDC Southern District of New York


“If you look at my actions related to Egypt during the period described in this indictment and throughout my whole career, my record is clear and consistent in holding Egypt accountable,” he said.

Menendez and his wife each face charges of conspiracy to commit bribery, conspiracy to commit honest services fraud, and conspiracy to commit extortion under colour of official right.

He denies any wrongdoing.

In an emailed statement last week, he accused prosecutors of misrepresenting “the normal work of a congressional office” and said he will not allow his work in the Senate to be distracted by “baseless allegations”.

A lawyer for his wife said she “denies any criminal conduct and will vigorously contest these charges in court”.

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Bruce Willis’s wife says it’s ‘hard to know’ if he is aware of his dementia condition

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Bruce Willis's wife says it's 'hard to know' if he is aware of his dementia condition

Bruce Willis’s wife has opened up for the first time about her husband’s dementia, revealing it was unclear whether the actor was aware of his own condition.

Emma Heming Willis told the Today show on NBC it was “hard to know” if her husband knew of his aphasia – a condition affecting his cognitive abilities.

She said the actor’s dementia had been “hard on the family” since he was diagnosed more than a year ago.

Bruce Willis and Emma Heming Willis attend the "Motherless Brooklyn" premiere during the 57th New York Film Festival at Alice Tully Hall on Friday, Oct. 11, 2019, in New York. (Photo by Charles Sykes/Invision/AP)
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Bruce Willis and wife Emma Heming Willis in 2019. Pic: AP

“What I’m learning is that dementia is hard,” she said. “It’s hard on the person diagnosed, it’s also hard on the family.

“That is no different for Bruce, or myself or our girls. And when they say that this is a family disease, it really is.”

The model, who has been married to the Die Hard star since 2009, said she was now a “care partner” and that the disease was spoken about as part of an “open and honest household”.

Pic: AP
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Bruce Willis retired from acting after being diagnosed with aphasia. Pic: AP

She said: “The most important thing was to be able, for us, to say what the disease was, explain what it is, because when you know what the disease is from a medical standpoint it sort of all makes sense.

“It was important that we let [our daughters] know what it is because I don’t want there to be any stigma or shame attached to their dad’s diagnosis or any form of dementia.”

The couple have two young daughters, Evelyn and Mabel, and Willis, 68, has three adult daughters with his first wife and actress, Demi Moore.

Emma Heming Willis opened up during World FTD (frontotemporal dementia) Awareness Week.

She said his diagnosis was a “blessing and a curse”, explaining that “just being in the know” of what was happening “made it a little bit easier… [but didn’t] make it any less painful”.

“Honestly, he is the gift that keeps on giving. Love. Patience. Resilience. So much and he’s teaching me and our whole family. For me to be out here doing this, this is not my comfort zone. This is the power of Bruce,” she said.

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The 45-year-old said it was important to ask for “help and support” and care partners should “look after themselves” so they can be the best care partner for the person they are caring for.

On her daughters’ experience, she added how the situation was “teaching them how to care and love” and that it was a “beautiful thing amongst the sadness”.

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FTD is thought to account for less than one in 20 of all dementia cases.

It is named for the parts of the brain it affects – the frontal and temporal lobes and causes changes to personality, behaviour, language and movement.

As with other forms of dementia, the onset of the disease is slow to begin with but gradually gets worse.

There is currently no cure for FTD, but there are medicines, therapies and memory activities that can help control some of the symptoms.

The average survival time after symptoms start is between eight and 10 years.

Willis came to national attention alongside Cybill Shepherd in the 1980s TV hit Moonlighting.

His first big film role was as John McClane in the smash hit Die Hard in 1988. He went on to star in movies including Pulp Fiction, 12 Monkeys and The Sixth Sense.

Over four decades he starred in more than 100 films, which have amassed over $5bn (£4.17bn) at the box office worldwide.

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