R-Calif., Yellen warned the U.S. could be unable to "continue to satisfy all of the government's obligations" by June 1 if Congress does not raise or suspend the debt limit before that time.
U.S. Senate Aide Says Leaders Agreed to Raise Debt Limit by $480 Billion More Reuters The U.S. Capitol is seen as Senate Democrats and Republicans sought to reach an agreement on to avert a debt crisis in Washington, U.S., October 7, 2021. REUTERS/Joshua Roberts ...
What’s behind the looming ‘x-date’ on the US debt limit? 1 of 3 | FILE - Speaker of the House Kevin McCarthy, R-Calif., speaks at the Capitol in Washington, Thursday, April 20, 2023. The Democratic president and Republican congressional leader have each tried to assure the ...
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...
The news comes after President Joe Biden signed a bill into law last week that averted a government shutdown but did not include President-elect Donald Trump’s core debt demand to raise or suspend the nation’s debt limit. The bill was approved by Congress only after fierce i...
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...
Debt Limit: Cut the cardsMike Whitney
debt limitWASHINGTON — Canada's federal government was watching closely and saying little Tuesday as a high-stakes race against the clock got underway in earnest at the White House, with the health of the global economy hanging in the balance....
According to estimates by the Congressional Budget Office, the Treasury will most likely run out of cash in the first half of March this year, which means that the Congress has to raise the debt limit before mid-March in order to avoid government default. ...
NEW YORK - US President Joe Biden signed Fiscal Responsibility Act of 2023 into law Saturday afternoon so as to avoid a historic default on government debt. The bipartisan act suspends the public debt limit through Jan 1, 2025, and increases the limit to the actual debt level on Jan 2, 20...