Tag Archives: republican-backed

ABC’s Stephanopoulos Blasted by Sec. Bessent Over His Shutdown Hypocrisy [WATCH]

Treasury Secretary Scott Bessent challenged ABC’s George Stephanopoulos on Sunday over his past comments blaming Republicans for government shutdowns, leading to a sharp exchange during an interview on “This Week with George Stephanopoulos.”

The discussion focused on the ongoing federal shutdown and the Senate’s repeated failure to pass a Republican-backed continuing resolution aimed at reopening the government. Over 38 days, the Senate voted 14 times on the proposal. Fifty-two Republicans and three Democrats supported the measure, leaving it five votes short of the 60 needed to end the stalemate.

Stephanopoulos asked whether the Trump administration would consider supporting the elimination of the legislative filibuster as a way to resolve the impasse. Bessent quickly rejected the idea and turned the question back on Stephanopoulos.

“No, George. The best way to do it— and look, you were involved in a lot of these in the ’90s. And, you know, you basically called the Republicans terrorists and, you know, you said that it is not the responsible party that keeps the government closed,” Bessent said.

Bessent argued that Democrats now find themselves in the same position they once criticized.

“And so, what we need is five brave, moderate Democratic senators to cross the aisle, because right now it is 52-3, 52-3. Five Democrats can cross the aisle and reopen the government. That’s the best way to do it, George,” he added.

Stephanopoulos responded, “I can disagree with you about the history there, but we don’t have a history lesson right now.”

Bessent persisted, saying, “No, no, no. George, George, George. If you want, I’ve got all your quotes here. I got all your quotes here, George.”

“I went back, read your book. So you got one purchase on Amazon this week. And that’s very much what you said.”

The on-air exchange referenced Stephanopoulos’s role during the 1995-1996 government shutdowns when he served as a senior adviser in President Bill Clinton’s White House. At the time, Stephanopoulos was instrumental in shaping the administration’s public messaging against congressional Republicans, led by then-Speaker Newt Gingrich.

In a 2000 interview with PBS’s “Frontline” for its documentary “The Clinton Years,” Stephanopoulos acknowledged the Clinton administration’s strategy.

“Our strategy was very simple. We couldn’t buckle, and we had to say that they were blackmailing the country to get their way. In order to get their tax cut, they were willing to shut down the government, throw the country into default for the first time in its history and cut Medicare, Social Security, education and the environment just so they could get their way. And we were trying to say that they were basically terrorists, and it worked,” he said at the time.

Bessent’s comments highlighted what he characterized as a shift in the political narrative surrounding shutdowns. While Democrats previously accused Republicans of holding the government hostage to achieve policy goals, Bessent argued that the current situation reverses that dynamic, with Democrats now blocking a clean continuing resolution that would reopen the government.

The interview followed another tense moment for Stephanopoulos earlier in the month. On October 12, he abruptly ended an interview with Vice President J. D. Vance after accusing the vice president of dodging questions about Border Czar Tom Homan.

As Vance began to respond, Stephanopoulos cut the segment short mid-sentence, drawing criticism from viewers who accused the host of bias.

Bessent’s appearance on ABC further illustrated the growing tension between the Trump administration and major media outlets as negotiations continue to break the deadlock in Congress.

With only a handful of Senate Democrats needed to reach the 60-vote threshold, the administration has continued urging bipartisan cooperation to reopen the government.
https://www.lifezette.com/2025/11/abcs-stephanopoulos-blasted-by-sec-bessent-over-his-shutdown-hypocrisy-watch/

New Zealand Dollar slumps below 0.5650 as New Zealand Unemployment Rate hits nine-year high

The NZD/USD pair tumbled to near 0.5640, reaching its lowest level since April 10 during the early Asian session on Wednesday. The New Zealand Dollar (NZD) weakened against the US Dollar (USD) following the release of New Zealand’s jobless rate, which rose to the highest in nine years in the third quarter (Q3).

Data released by Statistics New Zealand showed that the unemployment rate increased to 5.3% in Q3 from 5.2% in Q2, aligning with market expectations. Employment remained unchanged compared to the previous three months, falling short of the estimated 0.1% increase.

Traders are now awaiting key US economic reports, including the ADP Employment Change and the ISM Services Purchasing Managers Index (PMI), both scheduled for release on Wednesday. These reports are expected to provide further guidance on the USD’s direction.

The Reserve Bank of New Zealand (RBNZ) has cut the Official Cash Rate (OCR) by 300 basis points since August of last year, bringing it down to 2.5%. Most economists anticipate an additional 25 basis point cut at the RBNZ’s final meeting of the year on November 26. This dovish monetary stance could continue to weigh on the NZD against the USD in the near term.

However, positive developments in US-China trade talks may help limit the downside for the Kiwi, often seen as a proxy for China due to the country’s close trade ties with New Zealand. According to a Bloomberg report released late Tuesday, US President Donald Trump announced a reduction in fentanyl-related tariffs on imports from China, lowering the rate from 20% to 10%. Additionally, some reciprocal levies on Chinese goods will remain frozen. These tariff adjustments are set to take effect on November 10.

Meanwhile, the US government shutdown has entered its sixth week, poised to become the longest federal funding lapse in the nation’s history after a short-term funding bill failed in the Senate once again. The latest attempt to break the impasse—passing Republican-backed temporary legislation—failed in the Senate for the 14th time on Tuesday.

Concerns that a prolonged US federal shutdown could negatively impact the US economy may undermine the Greenback against the New Zealand Dollar in the coming sessions.
https://bitcoinethereumnews.com/finance/new-zealand-dollar-slumps-below-0-5650-as-new-zealand-unemployment-rate-hits-nine-year-high/