Washington, D.C
A Tale of Two National Days
WASHINGTON, D.C.—Last Monday, I arrived at the fortress-like Chinese Embassy complex in Washington to the blare of protesters’ megaphones, a common sound outside the embassy. Running late from a meeting, I passed through a metal detector, then scurried through the atrium down to a packed ballroom in the subterranean level of the embassy. There, Chinese Ambassador to the United States Xie Feng was delivering a speech to mark China’s National Day before a sea of suits and military uniforms flecked with the occasional festive qipao.
Two days later and about a mile south, I ambled up a driveway—no security check in sight—to the 18-acre Twin Oaks estate, which serves as Taiwan’s de facto embassy in Washington. I passed a rock garden shaped like the island before arriving to watch Taipei’s representative in Washington, Alexander Tah-ray Yui, give his own National Day speech from the portico of the estate’s 19th-century Georgian-style mansion. Rain briefly threatened, but Yui’s gamble panned out—guests gathered on the rolling lawns below, and he delivered his remarks under the open skies.
Every fall, Washington goes through this ritual—celebrating two National Days, one for the People’s Republic of China (PRC) and the other for the Republic of China (Taiwan), while maintaining a “One China” policy and opposing Taiwanese independence. For U.S. diplomats and experts working on cross-strait relations, carefully executing such mental gymnastics is part of the job description, but even for the nimble, the stretch of holidays can trigger some cognitive dissonance.
The Twin Oaks reception was held a week before the official holiday in Taiwan—standard practice, although the Taipei Economic and Cultural Representative Office gave no official explanation for the gap in scheduling when asked about it. Under U.S. policy, Taiwan is not allowed to have a formal diplomatic presence in Washington, so every move that its unofficial representatives make here is closely scrutinized by Beijing, which maintains that Taiwan is part of its territory.
The National Day holiday itself has been the subject of debate in Taiwan. Also referred to as Double Ten Day, it honors the 1911 Wuchang Uprising in China that led to the fall of the Qing Dynasty and founding of the Republic of China. The Kuomintang (KMT) party governed mainland China intermittently over the following decades until it was forced to retreat to Taiwan after the Chinese Civil War and the 1949 founding of the People’s Republic of China.
But last year, former Taiwanese President Ma Ying-jeou of the KMT—currently the opposition party and the one that holds closer ties to Beijing—criticized the ruling Democratic Progressive Party (DPP) for using the phrase “Taiwan National Day” to describe the holiday, arguing that it is unnecessarily provocative.
This year, the holiday season has been laced with extra tension. In the lead-up to Oct. 10, President William Lai of the DPP, who took office in May, made remarks that angered Beijing. Lai pointed out that the Republic of China was marking its 113th anniversary, while the PRC was celebrating its 75th. “Therefore, in terms of age, it is absolutely impossible for the People’s Republic of China to become the ‘motherland’ of the Republic of China’s people. On the contrary, the Republic of China may be the motherland of the people of the People’s Republic of China who are over 75 years old,” he said on Oct. 5.
And in his speech on the Oct. 10 holiday itself, Lai reiterated a statement he made during his inaugural address, which also drew outrage from Beijing.
“The Republic of China and the People’s Republic of China are not subordinate to each other. On this land, democracy and freedom are growing and thriving. The People’s Republic of China has no right to represent Taiwan,” he said.
But Lai also told the audience that Taiwan was willing to work with China on issues such as climate change and maintaining peace, which analysts said signaled his desire not to upend relations.
Nonetheless, Taiwan is bracing for potential fallout after the holiday. Taiwanese officials told Reuters earlier this week that China may respond to Lai’s speech with military exercises around Taiwan, as occurred after his May speech.
Back in Washington, the two National Day events at the Chinese Embassy and Twin Oaks reflected the fragile state of relations between the United States, China, and Taiwan.
In his roughly 20-minute speech at the Chinese Embassy event, Xie—the Chinese ambassador—described the PRC’s 75-year history as a triumph of economic development before turning his attention to the U.S.-China relationship. By his account, Washington fundamentally misunderstands Beijing’s intentions.
“We have no strategy to overtake or replace the United States, no intention to overthrow the existing order or dominate, and no interest in geopolitical rivalry or a Game of Thrones,” he said. Unlike other instances when Chinese officials have outright rejected the framing of the U.S.-China relationship as a competition, Xie said that while some competition is natural, it shouldn’t dominate the relationship.
He also made a case for the benefits to the United States of integration between the two economies—Teslas rolling off the assembly line at the company’s Shanghai gigafactory and Starbucks opening a new store in China every nine hours. And he listed some of the areas where the United States and China have been able to make some tentative progress together over the past year—climate change; fentanyl control; student exchanges; and critically, the return of the giant pandas to U.S. zoos (including two reportedly coming to D.C. soon).
But Xie also issued several warnings. Referring to the reopening of U.S.-China relations under former U.S. President Richard Nixon, he said, “Today, the relationship is again at a new starting point. History surges onward like a mighty river, but it is the choices made at critical junctures that shape the course.” Taiwan is the “first and foremost red line” in the U.S.-China relationship, he said, adding that “condoning ‘Taiwan independence’ would only invite disaster to oneself.” Finally, he said that a trade or tech war would be a “double-edged sword” that would harm the United States, too.
Following Xie on the stage was Daniel Kritenbrink, the U.S. assistant secretary of state for East Asia and Pacific affairs. He first congratulated China on its anniversary before joking that he was in the “unenviable position” of having 60 seconds to respond to a 20-minute, policy-heavy speech delivered by his “dear friend” Xie.
“I think perhaps this is not the appropriate occasion for me to engage in a rebuttal of some of the points that Ambassador Xie made,” he said, leaving a palpable tension in the stuffy ballroom air. He went on to recite the Biden administration China policy mantra—“invest, align, compete”—and, when possible, cooperate.
But China had the last word, or rather, a Chinese opera singer did. He had his own unenviable task: delivering the famous closing aria from Giacomo Puccini’s Turandot against the backdrop of hundreds of people chattering about Xie and Kritenbrink’s remarks. He may not have been Pavarotti, but he nobly persevered, crescendoing to the booming final line “Vincero, vincero!”—Italian for “I will be victorious.”
Two days later at Twin Oaks, Yui used his speech to thank the United States for its support of Taiwan, militarily and otherwise, and underline the bipartisan nature of that support.
“It is rock solid, but I think with a lot of room to grow still,” he said of the partnership. U.S. congressional support for Taiwan “shows the aggressor we are not alone,” he added. Yui had reason to be pleased; the United States recently approved its largest-ever military aid package to Taiwan—$567 million in weapons to be delivered from U.S. stockpiles.
Yui also echoed language that Lai used in his May inauguration address, saying, “We are not subordinate to the authoritarian communist Chinese regime as they claim it to be.”
As is traditional, an official from the American Institute of Taiwan (AIT), the United States’ de facto embassy in Taipei, followed Yui. Ingrid Larson, the managing director of AIT, kept her speech short—no longer than Kritenbrink’s—and light, remarking on the long-standing U.S. support for Taiwan and their shared values. It was a script designed not to test any red lines.
At both events, the geopolitical dance was followed by a hearty helping of regional delicacies. At the Chinese Embassy, that included D.C. restaurateur and former Chinese Embassy chef Peter Chang’s famous Peking duck, which your vegetarian correspondent politely declined, to the dismay of her Chinese hosts.
Fried rice and mushrooms were a perfectly fine pairing, though, to observe the zoo of U.S.-China relations. The National Day event serves as one of the rare moments these days where the many U.S. government departments that deal with China—from the National Security Council to the Departments of Defense, Commerce, Energy, and so on—all interact with their Chinese counterparts.
I wouldn’t go as far as to describe the feeling as hopeful, but there was something reassuring about the fact that despite all the tensions in the relationship, both countries’ officials can still gather under one roof and tuck into some well-glazed duck together.
At the Taiwanese event, every edible and drinkable item was designed to remind attendees of Taiwan’s unique identity—and its global support. One could sample steaming noodles from Tainan, pork-filled buns and mahi-mahi from Taiwan, copious rolls from sushi boats—a nod to Taiwan’s Japanese colonial period—and, somewhat puzzlingly, even American Thanksgiving-style fare from a buffet featuring casseroles and green beans.
To showcase its remaining 12 official allies, the event also featured Paraguayan dancers in flouncy yellow dresses, hot sauce from Belize, coffee from Guatemala, and beer from the Czech Republic. (While not an official Taiwanese ally, Prague has shown strong support for Taiwan in recent years).
Even the ice cubes in the drinks sent a message—a small Taiwanese flag was embedded in each cube. As I chatted with Taiwanese contacts, I quietly worried about the implications of my cocktail melting in the heat.
While fewer high level U.S. officials were in attendance at Twin Oaks, the hosts made up for it with large TV screens positioned around the main tent, like billboards for Taiwan’s U.S. support. Each screen shuffled through letters from members of Congress congratulating Taiwan on its National Day. A video message from Rep. John Moolenaar—the chairman of the House select committee on the Chinese Communist Party—also played on loop throughout the event.
As I wandered back down the driveway at the end of the evening, I wondered what the two National Day celebrations might look like next year. If former U.S. President Donald Trump wins the upcoming presidential election, he has threatened to launch a new trade war against China and shake up U.S.-Taiwan relations. But even under an administration headed by current Vice President Kamala Harris, relations are likely to remain fragile as the United States continues to ratchet up its tech restrictions against China and China continues its gray-zone and military actions in the South China Sea and Taiwan Strait.
Before leaving Twin Oaks for the night, I took a final sip of my Taiwanese whiskey sample to savor the moment of relative calm.
Washington, D.C
The director of the Congressional Budget Office—known for its gloomy national debt data—is very optimistic that a crisis will be avoided entirely | Fortune
Dr Phillip Swagel is an optimist, both by nature and when he looks at the U.S. economy.
This fact is perhaps at odds with what one might assume: Swagel is the director of the Congressional Budget Office (CBO), the nonpartisan agency that offers independent budgetary and economic analysis to Congress.
Very often—an inevitable occupational hazard—the subject of national debt and the interest the U.S. Treasury pays to maintain is its central focus. The numbers are eye-watering: Public debt stands at more than $39 trillion. The interest expense on that borrowing now exceeds $1 trillion a year. Indeed, the latest budget update from the CBO highlights that the government—according to preliminary estimates—paid out nearly $530 billion between October 2025, when the fiscal year starts, and March 2026. This equates to more than $88 billion in interest payments a month, or more than $22 billion a week.
The CBO’s figures are routinely cited by policymakers, think tanks, and lobbyists as alarming evidence that the U.S. needs to find a more sustainable fiscal path or risk dire straits.
Swagel doesn’t subscribe to the notion that the U.S. will face a crisis of its own making. His justification is simple: He was at the Treasury during the 2008 financial crisis, and joined the CBO months before the COVID pandemic began. He has watched as the U.S. economy, seemingly against all odds, has clawed its way out of economic crises before.
That’s not to say Swagel isn’t a staunch advocate of setting the U.S. on a more sustainable fiscal path—rather, he trusts the people in power to do so when the time comes.
Why the optimism?
Among those concerned about national debt are notable names: JPMorgan Chase CEO Jamie Dimon, Federal Reserve Chairman Jerome Powell, and Bridgewater Associates founder Ray Dalio. Tesla CEO Elon Musk is also worried about federal spending and has endorsed a plan floated by Berkshire Hathaway founder Warren Buffett that would render members of Congress ineligible for reelection if they allow deficits to exceed 3% of GDP.
On the other hand, optimistic economists suggest that, despite the value of the debt, it’s not actually an issue: the bond market is holding steady, indicating a reliable market of buyers. Likewise, the U.S.’s own central bank buys huge swaths of the debt, meaning, in the simplest of layman’s terms, the economy can essentially print its own money. There are holes in this argument, not least the fact that Fed chairman nominee Kevin Warsh has suggested he would like to reduce the Fed’s balance sheet and may therefore be less inclined to finance borrowing.
Swagel’s positive outlook doesn’t rely on the argument that a crisis hasn’t happened yet, so therefore it never will: “[My optimism] is rooted in my experience,” Swagel tells Fortune in an exclusive interview in Washington D.C. “First being at Treasury during the financial crisis and seeing very difficult times and the country coming together with an effective response—not saying it’s perfect, lots of controversy—but it was effective.”
“The second thing is policymakers are smart, they’re thoughtful. Interacting with members of Congress makes me optimistic. I know you read about all the squabbles … I’m completely aware of this, but the policymakers that are thinking about these things are thoughtful and effective. Not necessarily always effective at passing legislation, but that’s part of our political system, it was set up to make it difficult ot pass legislation.”
Decisions on the horizon
Swagel’s optimism that Congress will be pushed into action will be tested sooner rather than later, likely at some point in the next six years, he told Fortune. This is partly due to the fact that, according to the Committee for a Responsible Federal Budget (CRFB) both Social Security and Medicare will become insolvent within that time period.
“Making progress to address the fiscal trajectory would be a positive for the U.S. economy,” Swagel said. “Credible steps would lead to lower interest rates that would make the subsequent adjustment easier, there is a reward to virtue. It’s a positive thing, we can’t go on [with] the scolding narrative. My sense is that members of Congress understand the fiscal situation, it’s not that everyone single one has looked at our one-pager of numbers and understands the debt to the third decimal point, but they understand something needs to be done.”
“It doesn’t have to be done immediately, but at some point reasonably soon.”
Swagel is of the opinion that bond investors haven’t increased risk premiums not because they’re not worried about a fiscal crisis, but because they have priced in preventative action from Congress—in his mind “a vote of confidence that my optimism is not misplaced.”
“As a country, we face up to these problems. It’s not happening now, I’m not sure it’s going to happen in the rest of this year or even the next year, or the next two years. But we will face up to it, and the market in some sense expects us to, because otherwise interest rates would be higher,” he explained.
The Cheesecake Factory
The role of the CBO, to some extent, is to provide policymakers with their options if and when they do choose to take action on federal deficits. It’s a menu not unlike the Cheesecake Factory, Swagel says: Large, inclusive of a range of modifications and options, and delivered without judgement.
“Right now it’s maybe a pick three, and you’re looking at a six or seven course menu,” joked Caleb Quakenbush, director of fiscal policy at the Bipartisan Policy Center, in an interview with Fortune. “The longer you delay, the more you’re gonna have to add to your tab, and those options become more expensive.”
Indeed, economists and analysts aren’t necessarily worried about the absolute level of government debt, rather the debt-to-GDP ratio. Depending on whom you ask, the debt-to-GDP ratio stands at around 122% of GDP at present. This measure demonstrates an economy’s spending versus its growth, and the risk associated with lending to a nation that isn’t growing fast enough to handle its spending. To rebalance that ratio, an economy could either cut spending or increase growth—the latter being by far the less painful option.
The growth option is becoming less feasible, Michael Peterson, CEO of fiscal think tank the Peter G. Peterson Foundation, told Fortune in an exclusive interview: “I think it requires government action because we’ve waited so long. We’ve added so many trillions, and the current deficit is so big at 6% that the level of growth you would need really exceeds what is feasible.
“Growth needs to be a part of it, but it’s sort of a vicious cycle. The longer we delay, the more debt we have, the slower growth is going to be. The more we get this under control, I think the greater optimism there is, interest rates go down, more growth comes from that. It’s sort of a virtuous or vicious cycle depending on your policy response.”
Washington, D.C
12th Honor Flight Tallahassee returns home from successful trip to Washington D.C.
TALLAHASSEE, Fla. (WCTV) – Seventy-two veterans took a trip Saturday to our nation’s capital to visit memorials honoring their service in the armed forces.
This year marks the 12th trip to Washington, D.C. for Honor Flight Tallahassee.
Early Saturday morning, veterans and their guardians met to take a charter flight up to D.C.
Throughout the day, veterans were taken to the World War II memorial, as well as the Korean and Vietnam War memorials. The veterans also visited Arlington National Cemetery and the Tomb of the Unknown Soldier.
More Tallahassee news:
The day ended with a wonderful welcome home celebration.
Our Jacob Murphey, Julia Miller, Taylor Viles, and Grace Temple accompanied the veterans, capturing moments from throughout the day.
The team will have live coverage from Washington, D.C. on Monday to share more from the day’s events.
We will continue to have coverage throughout the month of May, leading up to our Honor Flight special on Memorial Day.
To keep up with the latest news as it develops, follow WCTV on Facebook, Instagram, YouTube, Nextdoor and X (Twitter).
Have a news tip or see an error? Write to us here. Please include the article’s headline in your message.
Be the first to see all the biggest headlines by downloading the WCTV News app. Click here to get started.
Copyright 2026 WCTV. All rights reserved.
Washington, D.C
Storm Team4 Forecast: A chilly, gusty Sunday before a cool start to the week
4 things to know about the weather:
- Chances of rain in the morning
- Gusty Sunday
- Chilly Monday
- Temps will rise again through the work week
Download the NBC Washington app on iOS and Android to check the weather radar on the go.
After a nice and warm Saturday, changes arrive for part two of the weekend.
The first half of your Sunday will have a chance for showers. Winds will pick up with our next system and are expected to gust to about 20-30 mph. Cooler air will settle in, and lows Sunday night fall into the 40s.
Highs temps Monday will reach only into the mid to upper 50s.
However, temperatures will rise through the week, so you won’t need your jackets every day.
QuickCast
SUNDAY:
Showers, then partly cloudy
Wind: NW 10-15 mph
Gusts @ 30 mph
HIGH: Lower 60s
MONDAY:
Partly cloudy
Wind: NW 10-15 mph
Gusts @ 25 mph
HIGH: Upper 50s
Stay with Storm Team4 for the latest forecast. Download the NBC Washington app on iOS and Android to get severe weather alerts on your phone.
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