Treasury Secretary Steven Mnuchin said that he has begun drafting a "sanctions package" to send to President Donald Trump for "his strong consideration" that would punish any country that conducts business with North Korea amid escalating global tensions during an interview Sunday on Fox News' "Fox News Sunday".
A request for more money is expected later this month.
"I did speak with the president, and it's clear that this behavior is completely unacceptable", Mnuchin said.
Sen. Roy Blunt (R-Mo.) said Sunday on NBC News' "Meet the Press" that "in the intel committee that I serve on, I think it doesn't disclose anything to say that in the past year [North Korea] has probably been the No. 1 topic month after month - what was happening there, what are we going to do about it - and I hope the neighborhood understands how critical this is".
If Congress approves the relief but additional money is not borrowed, "we're not going to be able to get that money to the state".
Trump's aid request would add $7.4 billion to dwindling Federal Emergency Management Agency disaster aid coffers and $450 million to finance disaster loans for small businesses.
The government's cash reserves are running low because the debt limit has actually already been reached, and the Treasury Department is using various accounting measures to cover expenses. "It is critical and to do that, we need to make sure we raise the debt limit". "So we need to put politics aside". In the wake of Hurricane Harvey, however, Mnuchin told CNBC on Thursday that the deadline could move up a few days. "(But) I would say the president and my first objective right now is for the people of Texas and make sure we get the funding to do that".
S&P warned last week that failure by Congress to lift the debt ceiling would likely be "more catastrophic" than the collapse of Lehman Brothers in 2008 that led to the global financial crisis. Republican lawmakers, who control both houses of Congress, have traditionally resisted raising the debt ceiling, but linking the issue to Harvey aid could force their hand with people suffering and large areas of the fourth-largest USA city under water. "Given the interplay between all the issues Congress must tackle in September, Democrats and Republicans must discuss all the issues together and come up with a bipartisan consensus", House Democratic Leader Nancy Pelosi and Senate Democratic Leader Chuck Schumer said in a joint statement.
"We will work with our allies". "I think we may be in a situation where the administration believes we'll get more economic growth than perhaps the models that come out of Congress".
"The way we are going to pay for things is with economic growth", Mnuchin said. "But we'll be working with them on that".