Jan 18 WATCH: White House press secretary Karine Jean-Pierre holds news briefing as the nation’s debt ceiling deadline approaches By Associated Press As the clock ticks down to the nation's debt ceiling deadline, the White House on Wednesday urged Republicans in Congress to work with President Joe Biden to avoid a potentially dangerous default. Continue reading
Jan 17 Watch 8:49 Economists and business leaders raise alarm about looming debt ceiling deadline By Laura Barrón-López, Kyle Midura The U.S. is expected to bump into its borrowing limit in just a few days. The Treasury Department said it is taking "extraordinary measures" to allow the country to keep paying its debts for now, but Congress must vote to… Continue watching
Jan 13 U.S. expected to hit debt limit Thursday, Yellen tells Congress By Fatima Hussein, Associated Press Treasury Secretary Janet Yellen notified Congress on Friday that the U.S. is projected to reach its debt limit on Thursday and will then resort to “extraordinary measures” to avoid default. Continue reading
Dec 15 Congress sends Biden $2.5 trillion debt limit hike, averting default By Brian Slodysko, Associated Press Capping a marathon day, the House gave final approval to the legislation early Wednesday morning on a near-party-line 221-209 vote, defusing a volatile issue until after the 2022 midterm elections. Continue reading
Dec 14 WATCH: Senate votes to raise debt limit by $2.5 trillion, avoiding default By Brian Slodysko, Associated Press The bill is expected to clear the Senate on a party-line vote that garners no Republican support, with swift passage by the House likely to follow before it then heads to President Joe Biden’s desk. Continue reading
Dec 08 Watch 4:56 The U.S. debt ceiling, explained By Lisa Desjardins, Saher Khan U.S. Senators are deciding how they'll vote on a deal to raise the debt ceiling, after the U.S. House of Representatives passed the first piece of a plan to avoid a default Tuesday night. Leaders in both parties are projecting… Continue watching
Dec 08 Congressional leaders reach elaborate deal to raise debt ceiling By Kevin Freking, Lisa Mascaro, Associated Press Congress approved a $480 billion increase in the nation’s debt limit in October. That’s enough for the Treasury to finance the government’s operations through Dec. 15, according to Treasury Secretary Janet Yellen's projection. Continue reading
Dec 07 Watch 3:04 What we know about Congress’ unusual solution to the debt ceiling disagreement By Lisa Desjardins The clock has been ticking on the next potential fiscal crisis for the U.S. Government. The nation’s debt ceiling could be reached as soon as next week, and the government might not have the funds to pay its bill. But… Continue watching
Oct 07 Watch 3:43 Some in GOP unhappy with McConnell over short-term debt deal with Dems By Lisa Desjardins, Saher Khan After weeks of stalemate, Senators have reached agreement to temporarily raise the debt ceiling, shortly before Republicans prepared to block legislation to suspend the debt limit until December of next year. The agreement averts a possible economic crisis — for… Continue watching
Oct 07 Agreement reached on short-term debt ceiling fix By Kevin Freking, Josh Boak, Associated Press Senate Majority Leader Chuck Schumer said Thursday an agreement has been reached with Republicans to extend the government's borrowing authority into December, temporarily averting a debt crisis. Continue reading