Jan 11 The federal government is set to max out on debt. Here’s why it could start a political standoff By Fatima Hussein, Josh Boak, Associated Press The federal government is on track to max out on its $31.4 trillion borrowing authority as soon as this month. That starts the clock on an expected standoff between President Joe Biden and the new House Republican majority. Continue reading
Feb 16 WATCH: House Budget committee hearing on the need to abolish the debt limit By Associated Press The House Budget committee held a hearing Wednesday on the need to abolish the debt limit. 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 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
Oct 12 WATCH: House returns to stave off default with debt limit vote By Kevin Freking, Associated Press Members of the House are scrambling to Washington to pass a short-term lift of the nation's debt limit. The vote Tuesday will ensure the federal government can continue fully paying its bills into December. Continue reading
Oct 12 WATCH: Speaker Pelosi holds briefing ahead of House debate on extension of debt limit By Associated Press Speaker of the House Nancy Pelosi told reporters Tuesday that over the years Republicans and Democrats have voted against lifting the debt ceiling, "but never to the extent of jeopardizing it."… Continue reading
Oct 07 WATCH: Senate votes to extend borrowing, averting debt disaster By Associated Press The Senate dodged a U.S. debt disaster Thursday night, voting to extend the government’s borrowing authority into December and temporarily avert an unprecedented federal default that experts warned would devastate the economy and harm millions of Americans. Continue reading
Oct 07 Default crisis dodged — for now — with Dem-GOP debt accord By Lisa Mascaro, Kevin Freking, Josh Boak, Associated Press Senate leaders have announced an agreement to extend the government's borrowing authority into December, temporarily averting an unprecedented default that experts say would have decimated the economy. Continue reading
Oct 06 WATCH: Sanders says Manchin must specify spending objections By Associated Press Sen. Bernie Sanders, a key supporter of Joe Biden's $3.5 trillion reconciliation spending plan strongly criticized Sen. Joe Manchin after the West Virginia Democrat said he does not want to see the United States become "an entitlement society."… Continue reading