President Biden addressed the nation Friday night to mark the passage of the "Fiscal Responsibility Act," which will suspend the country's debt limit and prevent a catastrophic default. The president spent weeks negotiating with House Speaker Kevin McCarthy over a deal. CBS News chief White House...
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Senate Votes to Raise Debt Ceiling Following the Senate vote, the House is also expected to pass raising the debt limit by $2.5 trillion through the next year, which will send the measure to President Joe Biden's desk. Lisa HagenDec. 14, 2021 ...
Clean debt limit bill The White House has said the debt limit should be addressed without conditions and will not negotiate. This amounts to a demand that Congress pass a clean debt limit bill. But House Republicans have pushed back on this – arguing any debt limit bill needs to be paired...
WASHINGTON, June 12 (Xinhua) -- The U.S. federal government would not be able to pay all its bills in full and on time if the debt limit isn't raised sometime in October or November, according to a report released on Monday.
WASHINGTON, Dec. 7 (Xinhua) -- U.S. Republican and Democratic lawmakers have agreed on a plan to break a partisan impasse and raise the federal government's debt limit, Bloomberg News reported on Tuesday. The plan would link a procedure to raise the debt limit with only Democratic votes ...
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U.S. to hit debt limit Thursday Treasury Secretary Janet Yellen says the U.S. will hit its debt limit of $31.4 trillion Thursday. CBS News congressional correspondent Scott MacFarlane joins the show to discuss what's being said on Capitol Hill about the looming debt ceiling crisis. ...
The president also said that he believes critics will “find” that he did not concede much in the negotiations, and that while he does not support getting rid of the debt limit, he is open to the idea of invoking the 14th amendment in the future to avoid a default. When asked about...
But things were different from the current standoff in one big respect — Democrats controlled both chambers of Congress and the White House at the time, giving them the power to raise the limit on their own. But theymade a concerted decisionnot to. ...