Congress Sends Biden $2.5T Debt Limit Hike, Avoiding Default
Congress Sends Biden $2.5T Debt Limit Hike, Avoiding Default

WASHINGTON (AP) — Congress averted a catastrophic debt default early Wednesday morning after Democratic majorities in both chambers voted to send a $2.5 trillion increase in the nation's borrowing authority to President Joe Biden over lockstep Republican opposition. Capping a... Read More

Federal Budget
Yellen Extends Deadline to Possible Federal Default to Dec. 15
2021-11-17 15:29:19
by Dan McCue

WASHINGTON — The federal government will run out of money and the nation will descend into its first-ever default on its debts if lawmakers don’t take action on the debt limit by Dec. 15, Treasury Secretary Janet Yellen said in... Read More

House Approves Temporary Extension of Debt Limit
2021-10-13 14:32:14
by Dan McCue

WASHINGTON - Surprising no one, the House did what it had to do Tuesday night, extending the nation’s borrowing authority -- otherwise known as the debt ceiling -- until Dec. 3. President Joe Biden is expected to sign the legislation,... Read More

Political News
House Returns to Stave Off Default With Debt Limit Vote

WASHINGTON (AP) — Members of the House are scrambling back to Washington on Tuesday to approve a short-term lift of the nation's debt limit and ensure the federal government can continue fully paying its bills into December.  The $480 billion... Read More

White House
Biden Tells GOP to 'Get Out of the Way' on Debt Limit

WASHINGTON (AP) — President Joe Biden on Monday urged Republican senators to "get out of the way" and let Democrats suspend the nation's debt limit, hoping to keep the U.S. government from bumping dangerously close to a credit default as... Read More

Democrats Say Debt Limit Increase Will Be Part of Short-Term Spending Bill
2021-09-20 21:48:11
by Dan McCue

WASHINGTON -- House Democrats will pair a continuing resolution to keep the government open through December with an increase in the debt limit. The package is expected to be put up for a vote by next week, House Speaker Nancy... Read More

Federal Budget
White House Warns That Debt Limit Showdown Could Hurt States

The White House is warning state and local governments about severe cuts to disaster relief, Medicaid, infrastructure grants. school money and other programs if Congress fails to raise the U.S. debt limit. A fact sheet for state and local officials... Read More

U.S. Could Hit Debt Limit by Next Month
2021-09-13 13:38:17
by Reece Nations

WASHINGTON -- The Bipartisan Policy Center, a D.C.-based think tank, released an analysis on Friday projecting that the United States’ debt limit “X Date” will likely arrive between mid-October and mid-November of this year. The so-called x date represents the... Read More

Yellen Warns US May Hit Debt Limit in October
2021-09-08 18:16:10
by Dan McCue

WASHINGTON -- Treasury Secretary Janet Yellen is warning Congress that she will run out of maneuvering room to prevent the U.S. from broaching the government’s borrowing limit in October. In a letter to congressional leaders on Wednesday, Yellen said that... Read More

Straight From The Well