May 24 How a debt default could affect you By Lisa Desjardins, Joshua Barajas Let's walk through what the debt ceiling is, why it was created, and who could be affected first if the U.S. defaults on its bills. Continue reading
May 23 Watch 6:08 Economist Mark Zandi on the potential impacts of the U.S. defaulting on its debt By William Brangham, Shoshana Dubnow The impact of the U.S. defaulting on its debt would be felt by many Americans. It could include suspension of Social Security checks or a loss of food stamp benefits, to name just a few. Many economists argue it would… Continue watching
May 23 What are the hangups in the ongoing debt ceiling negotiations? By Lisa Mascaro, Mary Clare Jalonick, Associated Press President Joe Biden and House Speaker Kevin McCarthy met Monday after a weekend of on again, off again negotiations over raising the nation's debt ceiling and mere days before the government could run out of cash to pay its bills. Continue reading
May 23 WATCH: White House holds briefing after Biden and McCarthy call debt ceiling talks ‘productive’ By Lisa Mascaro, Stephen Groves, Zeke Miller, Associated Press Biden and McCarthy both said they had a productive debt ceiling discussion late Monday at the White House, but there was no agreement. Continue reading
May 22 Here’s what would happen to the global economy if the U.S. defaults on its debt By Paul Wiseman, Associated Press If the debt crisis roiling Washington were eventually to send the U.S. crashing into recession, America's economy would hardly sink alone. The repercussions of a first-ever default on the federal debt would quickly reverberate around the world. Continue reading
May 22 No agreement yet on debt ceiling, but McCarthy say he’s optimistic after meeting By Lisa Mascaro, Stephen Groves, Zeke Miller, Associated Press It's a crucial moment for the Democratic president and the Republican speaker, just 10 days before a looming deadline to raise the debt limit. Continue reading
May 22 Why Biden is cautious about using the 14th Amendment to address the debt ceiling crisis By Zeke Miller, Josh Boak, Associated Press Biden has not ruled out using what he sees as an untested legal theory to ensure the country can meet its financial obligations if lawmakers don't act. But the president has said he's skeptical that it is a viable option. Continue reading
May 21 Debt limit negotiations resume as McCarthy, Biden plan for pivotal meeting Monday By Stephen Groves, Zeke Miller, Josh Boak, Associated Press Debt ceiling talks between the White House and House Republicans resumed Sunday at the Capitol as Washington races to strike a budget compromise along with a deal to raise the nation's borrowing limit and avert an economy-wrecking federal default. Continue reading
May 21 Watch 2:40 News Wrap: McCarthy, Biden to meet Monday for high-stakes debt limit talks In our news wrap Sunday, as Biden returns to the U.S. from the G7 summit in Japan, House Speaker McCarthy agreed to meet with the president on Monday to continue debt limit negotiations, Russia claims its forces have taken the… Continue watching
May 21 WATCH: Biden holds news briefing on stalled debt limit talks as G7 summit wraps up By Zeke Miller, Josh Boak, Stephen Groves, Associated Press Biden and House Speaker McCarthy will meet in person on Monday as the government races against a looming deadline to raise America’s debt limit before federal funds potentially run dry early next month. Continue reading