Danielle E. Gaines, Maryland Matters Democratic leaders huddled with President Joe Biden at the White House on Tuesday, ahead of what will be a tumultuous few months, with lawmakers sharply divided on the debt limit and short on time. “I have no intention of letting the Republicans wreck our economy, …
Read More »Commentary: If The GOP Is Looking For Someone To Blame On Debt Ceiling, Look In The Mirror
Ray Landis, Pennsylvania Capital-Star The United States government is lurching toward a financial crisis, brought on by the desire of the Republican majority in the US House to use chaos to change the political dynamics of the country. Attempting to predict exactly how the debt ceiling situation will unfold is …
Read More »Why America Has A Debt Ceiling: 5 Questions Answered
Steven Pressman, The New School Republicans and Democrats are again preparing to play a game of chicken over the U.S. debt ceiling – with the nation’s financial stability at stake. The Treasury Department on Jan. 13, 2023, said it expects the U.S. to hit the current debt limit of US$31.38 …
Read More »Warren Says Debt Ceiling Should Be Abolished to End GOP Threat to ‘Blow Up the Economy’
Sen. Elizabeth Warren on Sunday said congressional Democrats should use the upcoming lame-duck session to eliminate the U.S. debt ceiling for good, warning that leaving the borrowing limit intact gives Republicans an opening to hold the economy hostage. “I’d get rid of the debt ceiling altogether,” Warren (D-Mass.) told NBC‘s …
Read More »A GOP Showdown Over The Debt Limit Could Grip Congress And The Nation Next Year
Jennifer Shutt, Florida Phoenix Republicans are eyeing the debt limit and government funding deadlines as a way to force Democrats to the negotiating table for spending cuts, should the GOP regain control of Congress following the midterm elections. Republicans unhappy about government spending could move to shut down the government, …
Read More »Congress Approves $2.5 Trillion Debt Limit Increase
On Tuesday, Congress voted to raise the national debt limit by $2.5 trillion and extend it into 2023, narrowly avoiding a midweek deadline that would have sent the United States into default. The House approved the measure by a 221-209 party-line vote to raise the federal government’s debt limit to …
Read More »President Biden Signs Bill Temporarily Raising Debt Limit
President Joe Biden on Thursday signed into law a bill raising the nation’s debt limit until early December, delaying the prospect of an unprecedented federal default that would cause economic disaster. The House passed the $480 billion increase in the country’s borrowing ceiling on Tuesday, after the Senate approved it …
Read More »House Votes to Extend Debt Limit Through December
The House of Representatives voted late Tuesday to extend the federal debt limit through early December, sending the bill to President Joe Biden’s desk, who is expected to sign it. The party-line vote of 219-206 approves an increase of $480 billion to the debt limit until Dec. 3, lifting it …
Read More »Senate Passes Short-Term Debt Limit Increase; Now Heads To House
The Senate passed a short-term debt limit increase along party lines Thursday evening, a move that would give the Treasury Department at least a couple of months before it once again bumps up against its legal borrowing cap. The 50-48 vote sent the bill to the House, where that chamber …
Read More »Senate Reaches Short-Term To Extend Debt Limit To December
Senate Majority Leader Chuck Schumer said Thursday that the upper chamber reached an agreement to lift the debt limit, averting the risk of a government default. “We have reached an agreement to extend the debt ceiling through early December, and it’s our hope that we can get this done as …
Read More »Biden To GOP On Debt Ceiling: ‘Get Out Of The Way’
President Joe Biden is urging Republicans not to use the filibuster to block Democrats in the Senate from raising the U.S. debt ceiling. “If you don’t want to help save the country, get out of the way, so you don’t destroy it,” said Biden during remarks delivered Monday. “We don’t …
Read More »Congress Passes Government Funding Bill; Avoids Shutdown
Congress averted a government shutdown hours before the midnight deadline on Thursday, providing funding through Dec. 3 and sending the bill to President Joe Biden‘s desk for his signature. In a 254-175 vote, the House voted on a stopgap bill to fund the government at current levels for another nine …
Read More »Treasury Secretary Says Congress Must Raise Debt Limit By Oct. 18
Treasury Secretary Janet Yellen said on Tuesday that Congress has until Oct. 18 to raise or suspend the debt limit before the United States is expected to default on the national debt. “We now estimate that Treasury is likely to exhaust its extraordinary measures if Congress has not acted to …
Read More »Senate Republicans Block Government Funding; Debt Ceiling Increase
Senate Republicans blocked an attempt by Democrats on Monday evening to begin debate on a broad bill funding the government and increasing the debt ceiling. The measure to briefly keep the government operating past the end of the fiscal year on Thursday, as well as to increase the debt ceiling …
Read More »House Passes Stopgap Bill To Fund Government; Raise Debt Ceiling
House Democrats on Tuesday voted to approve a stopgap bill to keep the federal government running and suspend the debt ceiling past the 2022 midterms. In a 220-211 vote along party lines, the House passed the measure, setting up a likely clash in the Senate where Republicans threatened to block …
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