A group of hard-line House Republicans say House Speaker Kevin McCarthy cannot win their support on spending by launching an impeachment inquiry into President Biden.
The U.S. is no longer rated at the top-notch AAA by Fitch. Here's what credit ratings are, and why they (mostly) matter.
House lawmakers won't vote until Monday after a bloc of Freedom Caucus members torpedoed GOP legislation in an effort to express dissatisfaction with House leadership.
The president's signature came hours after he outlined the economic stakes that leaders faced and declared that a crisis had been averted.
Friday on Political Rewind: After months of wrangling, Congress has officially sent a debt ceiling bill to the president's desk. More Republican hopefuls are throwing their name in for 2024. Mike Pence, Chris Christie, and North Dakota Gov. Doug Bergum will announce in the coming days.
Thursday on Political Rewind: The House sent a debt ceiling bill to the Senate, though four of Georgia’s representatives voted against it. Meanwhile, the GBI and APD arrested three protestors who were raising bail funds for anti-“Cop City” activists. And election denier Kari Lake leads Georgia’s GOP convention.
The House's debt ceiling bill has critics on both sides. Bharat Ramamurti, the deputy director of the National Economic Council, says the administration was able to secure some of its key priorities.
Debt ceiling dramas have been going on a long time. The first one happened exactly 70 years ago. President Eisenhower asked Congress for an extra $15 billion and the Senate said, "No dice."
Wednesday on Political Rewind: The U.S. House plans to vote tonight on a debt ceiling deal. Far-right Republicans could complicate the math of the agreement. Plus, Mike Pence cancels on Georgia's GOP convention. But first, an outpouring of support for former first lady Rosalynn Carter after her family reveals her dementia diagnosis.
Congressional forecasters say the debt ceiling deal struck by President Biden and House Speaker Kevin McCarthy over the weekend would reduce deficits by about $1.5 trillion over the next decade.
Tuesday on Political Rewind: A debt ceiling deal will face its first major test in the U.S. House today. And as Pride Month begins this week, more than 50 bills restricting LGBTQ+ rights were passed around this country this year alone. Plus, crucial Supreme Court rulings to watch as its current term ends.
Treasury Secretary Janet Yellen says unless lawmakers raise the debt ceiling by June 5, the government won't have enough money to pay all of its bills.
Unless Congress acts to raise the federal debt limit, the U.S. government could run short of cash to pay its bills as early as June 1. Seniors, veterans, government workers and others would suffer.
Did spending by President Biden and the Democrats rack up the country's debt? Is a default the same as a government shutdown? Here are answers to things people often get wrong about the debt ceiling.
From social security payments to interest rates, a lot hinges on a debt-ceiling deal. Personal finance experts say you should prepare for a possible debt default as you would a recession.