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Biden and McCarthy strike positive tone after debt limit talks, but no deal yet
The stalemate could soon disrupt Americans’ everyday lives as well as the global economy.
A default on the U.S. debt would be far worse than a government shutdown. Here’s how.
A default would potentially reduce payments that keep millions of households afloat, as well as payments to states and providers for health care for elderly and low-income Americans.
Biden vows debt ceiling talks will continue while he’s overseas at G7 summit
The nation reached its $31.4 trillion borrowing limit in January, and the U.S. Treasury has since employed special accounting maneuvers to continue paying the nation’s creditors.
Some movement reported in debt limit talks as Biden cuts short overseas trip
The United States reached its debt limit in January, though serious negotiations on the country’s borrowing limit didn’t begin until earlier this month.
U.S. House GOP wants spending cuts — and also $10B in home-state earmarks
House Republicans demanded spending cuts to raise the debt ceiling, but have requested more than $10B in earmarks for projects back home.
Biden and congressional leaders fail to reach a debt limit deal, but will meet again Friday
President Biden said he would like to see negotiations on the debt limit and on future spending to remain on separate paths.
U.S. default could begin June 8 without agreement, top economist tells Congress
Moody’s Analytics’ chief economist urged lawmakers to suspend the debt ceiling as soon as possible.
After revelations of luxury trips, Democrats argue U.S. Supreme Court needs ethics code
Democrats have criticized Supreme Court Justice Clarence Thomas’ luxury travel and real estate transactions with a GOP donor.
U.S. could default as early as June 1, Yellen warns Congress
U.S. Treasury Secretary Janet Yellen said waiting until the last minute to raise the debt limit “can cause serious harm to business and consumer confidence.”
Revived push for Equal Rights Amendment blocked by U.S. Senate Republicans
The U.S. Senate failed to advance a symbolic measure to enshrine in the Constitution equal protection on the basis of gender.
U.S. House GOP pushes through debt ceiling increase coupled with massive spending cuts
U.S. House Republicans passed their controversial plan to temporarily raise the nation’s borrowing limit and cut spending. A veto is likely.
U.S. House GOP plan would expand work requirements for food aid for older adults
WASHINGTON — Hundreds of thousands of low-income Americans could face higher barriers to food assistance under the U.S. House Republican plan to cut spending while temporarily lifting the debt limit, advocates say. House Speaker Kevin McCarthy’s Limit, Save, Grow Act proposes returning discretionary spending to fiscal 2022 levels in exchange for raising the nation’s borrowing […]