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News Articles: debt ceiling

U.S. Treasury Secretary Janet Yellen speaks during a visit to the Financial Crimes Enforcement Network in Vienna, Va., on Jan. 8.

Tagged as: 

  • Politics

Treasury Secretary Janet Yellen says U.S. could hit debt limit in weeks

Yellen told Congress her agency will need to start taking "extraordinary measures," or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, as early as Jan. 14.

December 28, 2024
|
By:
  • The Associated Press
House Speaker Kevin McCarthy, R-Calif., is working to convince members of his own party to support a stop-gap spending bill while also defending his job as speaker.

Tagged as: 

  • Politics

McCarthy's plans for impeachment don't appear to be tamping down shutdown threat

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.

September 13, 2023
|
By:
  • Deirdre Walsh and
  • Lexie Schapitl
Fitch downgraded the U.S sovereign rating. The markets took the decision largely on their stride — but that doesn't make the decision inconsequential.

Tagged as: 

  • Business

Fitch just downgraded the U.S. credit rating — how much does it matter?

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.

August 02, 2023
|
By:
  • Rafael Nam
House Speaker Kevin McCarthy speaks to reporters as he walks to the House floor on Tuesday.

Tagged as: 

  • Politics

U.S. House paralyzed as conservative Republicans' fight with McCarthy drags on

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.

June 07, 2023
|
By:
  • Claudia Grisales and
  • Barbara Sprunt
President Biden gives an address Friday on the bipartisan deal to avert a national default.

Tagged as: 

  • Politics

Biden signs bipartisan deal to avert debt default

The president's signature came hours after he outlined the economic stakes that leaders faced and declared that a crisis had been averted.

June 03, 2023
|
By:
  • Franco Ordoñez
Political Divisions Threaten President Biden’s Agenda: asset-mezzanine-16x9

Tagged as: 

  • Politics

Political Rewind: Debt ceiling deal heads to President Biden's desk; GOP presidential field widens

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.

June 02, 2023
|
By:
  • Bill Nigut ,
  • Natalie Mendenhall ,
  • and 1 more
House Speaker Kevin McCarthy of R-Calif., speaks as House Minority Whip Rep. Steve Scalise, R.La., left, and Rep. Patrick McHenry, R-N.C., listen at a news conference after the House passed the debt ceiling bill at the Capitol in Washington, Wednesday, May 31, 2023. The bill now goes to the Senate. (AP Photo/Jose Luis Magana)

Tagged as: 

  • Politics

Political Rewind: House passes debt bill to Senate; Police arrest 'Cop City' bail organizers

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. 

June 01, 2023
|
By:
  • Bill Nigut ,
  • Natalie Mendenhall ,
  • and 1 more
Deputy Director of the National Economic Council Bharat Ramamurti, pictured at a White House briefing last August, spoke to <em>Morning Edition</em> after the House passed its debt ceiling bill.

Tagged as: 

  • Politics

'This is a compromise': How the White House is defending the debt ceiling bill

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.

June 01, 2023
|
By:
  • Rachel Treisman
Former President Eisenhower, addresses the nation on the American intervention in Formosa (now Taiwan) in an undated archival picture. Eisenhower was involved in the country's first debt ceiling fight when he asked Congress to raise the limit by $15 billion. The Senate refused, ushering the first tussle over the country's debt.

Tagged as: 

  • Business

The first debt ceiling fight was in 1953. It looked almost exactly like the one today

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."

June 01, 2023
|
By:
  • Stacey Vanek Smith
Rosalynn Carter in 2006

Tagged as: 

  • Politics

Political Rewind:Family reveals Rosalynn Carter's dementia diagnosis; Pence out at GA GOP convention

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. 

May 31, 2023
|
By:
  • Bill Nigut ,
  • Natalie Mendenhall ,
  • and 1 more
House Speaker Kevin McCarthy speaks to members of the media at the U.S. Capitol in Washington, D.C., on May 24, 2023. The House is set to vote on a debt deal on Wednesday.

Tagged as: 

  • Politics

CBO says debt ceiling deal would cut deficits by $1.5 trillion over the next decade

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.

May 31, 2023
|
By:
  • Scott Horsley
President Joe Biden and House Speaker Kevin McCarthy reached a final agreement Sunday on a deal to raise the nation's debt ceiling while trying to ensure enough Republican and Democratic votes to pass the measure in the coming week.

Tagged as: 

  • Politics

Political Rewind: Debt ceiling deal heads to U.S. House; Anti-LGBTQ bills rise across the country

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.

May 30, 2023
|
By:
  • Bill Nigut ,
  • Natalie Mendenhall ,
  • and 1 more
Treasury Secretary Janet Yellen listens during an open session of the Financial Stability Oversight Council meeting at the Department of the Treasury in Washington, D.C., on April 21, 2023. Yellen said on Friday Congress would need to raise the debt ceiling by June 5 or the country could run out of cash to pay its bills.

Tagged as: 

  • Economy

Yellen sets new deadline for Congress to raise the debt ceiling: June 5

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.

May 26, 2023
|
By:
  • Scott Horsley
Cole Lyle (left), a Marine Corps veteran and executive director of the veterans advocacy group Mission Roll Call, says a U.S. default would have devastating consequences for former military members who stand to see their benefits suspended.

Tagged as: 

  • Economy

These are some of the people who'll be impacted if the U.S. defaults on its debts

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.

May 25, 2023
|
By:
  • Scott Horsley
House Speaker Kevin McCarthy speaks to members of the media at the U.S. Capitol in Washington, D.C., on May 24, 2023. The U.S. government will soon run out of cash to pay its bills unless it can raise or suspend its debt ceiling.

Tagged as: 

  • Politics

5 things people get wrong about the debt ceiling saga

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.

May 25, 2023
|
By:
  • Scott Horsley
  • Load More

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