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Nations React to Reported $1 Billion Fee for Trump’s Peace Board

  President Trump said the Peace Board 'will embark on a new approach to resolving global conflict'. Reports surrounding President Donald Trump’s proposed Board of Peace have ignited global debate after claims surfaced that countries may be asked to contribute $1 billion to secure or maintain permanent membership. The board, envisioned as a body overseeing governance and reconstruction efforts in Gaza, would reportedly be chaired by Trump himself, who would hold authority over which nations are admitted. A draft charter circulating among diplomats outlines three‑year membership terms, renewable only with the chairman’s approval. It also suggests that nations contributing $1 billion within the first year could bypass term limits and secure a permanent seat. The White House has pushed back on the reports, calling them misleading and insisting that no mandatory membership fee exists. Officials acknowledged that major financial contributors could receive greater influence but ...
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U.S. Treasury Secretary Warns of Approaching Debt Ceiling Crisis


Treasury Secretary Janet Yellen has issued a stark warning that the United States could hit its debt ceiling as early as mid-January. In a letter to congressional leaders, Yellen stated that her agency would need to begin taking "extraordinary measures" to prevent the nation from breaching the debt limit. These measures are special accounting maneuvers intended to keep the government operating without defaulting on its obligations.

Yellen emphasized the urgency of the situation, urging Congress to act swiftly to protect the full faith and credit of the United States. The debt ceiling, which had been suspended until January 1, 2025, is expected to be reinstated on January 2, 2025. However, due to a scheduled redemption of nonmarketable securities held by a federal trust fund associated with Medicare payments, the Treasury does not expect to need to take extraordinary measures until January 14 to January 23.

The federal debt currently stands at approximately $36 trillion, a figure that has grown significantly over the years under both Republican and Democratic administrations. The spike in inflation following the COVID-19 pandemic has further increased government borrowing costs, making the situation even more critical.

Yellen's warning comes after President Joe Biden signed a bill last week that averted a government shutdown but did not address the debt ceiling issue. The bill was passed only after intense debate among Republicans over how to handle President-elect Donald Trump's demand to raise or suspend the debt limit.

As the new year approaches, the nation's fiscal health hangs in the balance, with lawmakers facing a critical decision on how to address the impending debt ceiling crisis.




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