Jan 02 U.S. national debt hits record $34 trillion as Congress gears up for funding fight By Fatima Hussein, Associated Press The record high comes after Republican lawmakers and the White House agreed to temporarily lift the nation's debt limit last year after the government ran up against its legal borrowing capacity and needed to implement "extraordinary measures" to avoid default. Continue reading
Nov 21 Watch 5:15 How disputes over the federal debt and deficit could lead to a government shutdown By Lisa Desjardins, Kyle Midura The U.S. government remains open this Thanksgiving week, thanks to a temporary funding deal Congress passed last week. But that deal starts to expire in January and conservatives are signaling they won’t pass another funding deal without addressing the swelling… Continue watching
Aug 01 U.S. credit rating cut to AA+ by Fitch, citing debt and political divisions By Christopher Rugaber, Associated Press Fitch cited the worsening political polarization around spending and tax policy as a key reason for the downgrade. Continue reading
May 27 Watch 2:38 News Wrap: Democrats, Republicans narrow in on debt limit deal In our news wrap Saturday, House Republicans and the White House signaled that a deal to raise the debt limit is within reach, the Texas House of Representatives impeached the state’s Attorney General Ken Paxton, Vice President Kamala Harris became… Continue watching
Sep 22 House pushes through debt and government funding plan, will face pushback from GOP By Lisa Mascaro, Kevin Freking, Associated Press The House has approved legislation to fund the government, suspend its borrowing limit and provide federal disaster and refugee aid. Continue reading
Jul 23 Yellen outlines to Congress emergency measures on debt limit By Martin Crutsinger, Alan Fram, Associated Press In a letter Friday to House and Senate leaders, Yellen said that her actions would buy time until Congress can pass legislation to either raise the debt limit or suspend the limit again for a period of time. Continue reading
May 03 Treasury announces plans to borrow $463 billion this quarter By Martin Crutsinger, Associated Press The big increase of $368 billion was attributed to passage of a $1.9 trillion support measure that President Joe Biden pushed through Congress in March which provided another round of relief payments totaling $1,400 per individual. Continue reading
Mar 04 CBO expects U.S. federal debt to double over next 30 years By Josh Boak, Associated Press The long-term drivers of managing the debt are rising interest rates and spending on programs such as Social Security and Medicare. Continue reading
Sep 23 WATCH: Senate budget committee holds hearing on updated CBO outlook By Martin Crutsinger, Associated Press The Treasury Department said that the U.S. budget deficit hit an all-time high of $3 trillion for the first 11 months of this budget year. Continue reading
Oct 25 Watch 11:13 From Lebanon to Chile, economic uncertainty is driving a wave of protests By Jane Ferguson, Nick Schifrin As 2019 enters its final quarter, protesters have taken to the streets in dozens of places worldwide. While circumstances differ from country to country, demonstrators are united in frustration with economic disparities -- and perceived government inaction to address them. Continue watching