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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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Joe Biden allows Ukraine to begin firing US rockets deep into Russia – as politician warns it ‘risks World War Three’

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Joe Biden allows Ukraine to begin firing US rockets deep into Russia - as politician warns it 'risks World War Three'

Joe Biden has authorised Ukraine to begin firing US-supplied rockets deep into Russia – as Sir Keir Starmer prepares to push for “further support” for Kyiv at the G20 summit.

Mr Biden’s policy shift means Kyiv will now be able to use Army Tactical Missile Systems (ATACMS) for long-range attacks, two American officials have told Sky News’ US partner network NBC News.

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Ukraine plans to conduct its first such attacks in the coming days, the sources said, without revealing details due to operational security concerns.

The US has eased restrictions on the use of ATACMS, which have a range of up to 190 miles, after Russia began deploying North Korean ground troops to supplement its own forces in the conflict.

Kremlin spokesman Dmitry Peskov said such a move would deepen America’s involvement in the war.

“It is obvious that the outgoing administration in Washington intends to… continue adding fuel to the fire and provoking further escalation of tensions around this conflict,” Peskov said.

President Joe Biden meets with Ukrainian President Volodymyr Zelenskyy in the Oval Office in September last year. Pic: AP
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Joe Biden meets with Volodymyr Zelenskyy in the Oval Office in September last year. Pic: AP

The development was also condemned by Biden officials as a possible expansion of the war.

A Russian politician and the son of President-elect Donald Trump have both likened the move to risking a third world war.

Maria Butina told the Reuters news agency: “These guys, Biden’s administration, is trying to escalate the situation to the maximum while they still have power and are still in office.

“I have a great hope that Trump will overcome this decision if this has been made because they are seriously risking the start of World War Three which is not in anybody’s interest.”

Meanwhile, Donald Trump Jr wrote on X: “The Military Industrial Complex seems to want to make sure they get World War 3 going before my father has a chance to create peace and save lives… Imbeciles!”

The outgoing Biden administration’s move comes as there are concerns about the level of support the Trump White House may be willing to give Ukraine.

Mr Trump has previously vowed to limit US support for Ukraine and end its war with Russia.

In an evening address after Kyiv was given permission to fire deep into Russia, Ukrainian President Volodymyr Zelenskyy said: “Today, there’s a lot of talk in the media about us receiving permission for respective actions. But strikes are not carried out with words. Such things are not announced. Missiles will speak for themselves. They certainly will.”

Back in September, Russian President Vladimir Putin said if the US were to lift the ban on long-range missile use it would be seen as NATO’s “direct participation” in the war.

He added: “This, of course, will significantly change the very essence, the very nature of the conflict.”

The US military tests an early version of an Army Tactical Missile System in 2021. Pic: AP
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The US military tests an early version of an Army Tactical Missile System in 2021. Pic: AP

Meanwhile, the UK prime minister has said he has “no plans” to speak with the Russian president as world leaders gather for the G20 summit in Rio de Janeiro.

Mr Putin will not be attending the two-day summit which starts on Monday after saying in October that his presence would “disrupt the normal work of this forum”. Russia’s foreign minister Sergei Lavrov will be attending instead.

It will take place days after German Chancellor Olaf Scholz spoke to Mr Putin on what was the Russian leader’s first publicly announced conversation with the sitting head of a major Western power in nearly two years.

Asked if he had any plans to make a similar call, Sir Keir said: “It’s a matter for Chancellor Scholz who he speaks to. I have no plans to speak to Putin.”

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Firefighters work at the site of a residential area hit by a Russian missile strike in the Lviv region of Ukraine. Pic: Reuters
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Firefighters work at the site of a residential area hit by a Russian missile strike in the Lviv region of Ukraine. Pic: Reuters

Speaking to reporters while on his way to the summit, he added: “We are coming up to the 1,000th day of this conflict on Tuesday.

“That’s 1,000 days of Russian aggression, 1,000 days of huge impact and sacrifice in relation to the Ukrainian people and recently we’ve seen the addition of North Korean troops working with Russians which does have serious implications.

“I think on one hand it shows the desperation of Russia, but it’s got serious implications for European security […] and for Indo-Pacific security and that’s why I think we need to double down on shoring up our support for Ukraine and that’s top of my agenda for the G20.

“There’s got to be full support as long as it takes and that certainly is top of my agenda, shoring up that further support for Ukraine.”

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One of Russia’s ‘largest air attacks’

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The latest developments come after Russia launched a large-scale attack on Ukraine on Sunday, with Mr Zelenskyy claiming Moscow had launched a total of 120 missiles and 90 drones.

Two major strikes, which left a total of 18 people dead, hit a residential building in the northeastern city of Sumy as well as energy infrastructure across Ukraine, prompting emergency power cuts.

Hours later, Moscow mayor Sergei Sobyanin said Russia’s air defence units had destroyed a drone heading towards the city.

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It’s a stunning shift in US policy – but Biden’s announcement will trigger fury and fresh threats from Moscow

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It's a stunning shift in US policy - but Biden's announcement will trigger fury and fresh threats from Moscow

Joe Biden’s belated decision to allow Ukraine to use US-supplied, long-range missiles inside Russia will be cheered by Kyiv and will almost certainly prompt the UK to follow suit.

But the stunning shift in US policy – just weeks before Donald Trump takes over as US president – will also trigger fury and fresh threats from Moscow at a time of increasing uncertainty about the future course of its war.

President Vladimir Putin has warned the West they would be playing with fire if they allowed Ukrainian forces to launch Western-supplied cruise and ballistic missiles at Russia, saying it could even trigger a global conflict.

British and US officials, though, have repeatedly advised their respective capitals not to be intimidated by Moscow’s sabre rattling.

Ukraine war latest: Biden lifts ban on Russia strikes

Yet there has been hesitancy, particularly in Washington, over the unleashing of US Army Tactical Missile System (ATACMS) ballistic missiles beyond the borders of Ukraine.

However, it seems that a move by North Korea to send thousands of its troops to fight with Russia has changed US calculations.

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Joe Biden is in Brazil for a G20 summit. Pic: Reuters
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Joe Biden delivered his remarks in Brazil. Pic: Reuters

The New York Times, which was among the US media organisations to break news of the Biden administration’s decision on long-range missiles, reported that the first time the American weapons will be used inside Russia will likely be against Russian and North Korean troops battling a Ukrainian incursion in the Russian region of Kursk.

While a significant step up in support for Ukraine, the ability to use American long-range missiles inside Russia is not a war-winning development.

But it does expand Kyiv’s capacity to hit important military targets deliberately positioned by Russian commanders far back from the frontline. This includes stockpiles of missiles, drones and other ammunition used to strike Ukraine.

Just as important as the military impact, though, is the political signal that the US decision sends to the Kremlin about Washington’s willingness to defy Russian warnings about dire consequences should Mr Biden dare to grant Ukraine the permission it’s so long been seeking.

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‘The missiles will speak for themselves’

The dramatic move by the US comes after months of lobbying by Ukraine’s leader, Volodymyr Zelenskyy.

A key thing to watch now will be how Mr Putin reacts the first time an American missile kills Russian soldiers on Russian soil.

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Moscow does not want a direct war with the United States and NATO – nuclear-armed forces with far greater combined firepower – but the Kremlin could well ramp up an already heightened campaign of sabotage and other forms of hybrid warfare across Europe.

Another important reaction to track will be how Mr Trump responds to Mr Biden’s move and whether he continues to allow Ukraine this permission once he takes over as the US commander-in-chief.

The president-elect has vowed to end Russia’s war in Ukraine quickly but he has not said how. Yet he has voiced fierce opposition to the continued gifting of vast quantities of American weapons to the Ukrainian military.

It is a reason perhaps for Ukraine to make use of its new freedoms with US missiles as quickly as possible.

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Vladimir Shklyarov: Russian ballet star dies aged 39 after ‘fall from building’

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Vladimir Shklyarov: Russian ballet star dies aged 39 after 'fall from building'

An acclaimed Russian ballet dancer has died aged 39 after reportedly falling off a balcony.

Vladimir Shklyarov, one of the world’s top male ballet stars, died on Saturday night, according to the Mariinsky Theatre, where he was a principal dancer.

The St Petersburg theatre said: “It is with profound sadness that the Mariinsky Theatre announces the untimely passing of principal dancer Vladimir Shklyarov.

“Shklyarov, a beloved artist and audience favourite, died tragically on 16 November.

“His loss is deeply felt by the entire Mariinsky family and the wider ballet world.”

The Mariinsky Theatre told Sky News Shklyarov had a back injury at the time, and was due to have “complicated spinal surgery” on Monday 18 November. He was “taking serious pain medication”.

A spokesperson for the theatre was reported in Russian media at the weekend as saying he had fallen from the fifth floor of a building.

Vladimir Shklyarov performing in London in 2009.
Pic: Reuters
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Vladimir Shklyarov performing in London in 2009, with fellow dancer Alina Somova. Pic: Reuters

Dancers have been paying tribute to Shklyarov, who was married to fellow company dancer Maria Shklyarov, with whom he had two children.

Former ballerina Irina Bartnovskaya said Shklyarov had been at home, on pain relief, preparing for foot surgery at the time of his death.

In a post on Telegram, she continued: “He went out onto the balcony to get some air and smoke, lost his balance (a very narrow balcony) and fell down (from the 5th floor).

“Stupid, unbearable accident.”

Read more from Sky News:
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Diana Vishneva, a ballerina at the Mariinsky Theatre, was also among those paying tribute.

She said: “This tragedy brings only tears and sadness.”

According to state-run news group RIA Novosti, an investigation has been launched into the death.

The outlet also said that the preliminary cause of death was believed to be an accident.

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