Tag Archives: debt ceiling

Ashley Murray, Pennsylvania Capital-Star Hundreds of thousands of low-income Americans could face higher barriers to food assistance under the U.S. House Republican plan to cut spending while temporarily lifting the debt limit, advocates say. House Speaker Kevin McCarthy’s Limit, Save, Grow Act proposes returning discretionary spending to fiscal 2022 levels …

Ariana Figueroa, Georgia Recorder U.S. Education Secretary Miguel Cardona on Tuesday said House Republicans’ debt limit proposal would cut vital education programs and harm vulnerable students across the U.S., such as those who are low income or have a disability. “It would be taking us backwards,” Cardona said on a …

Jennifer Shutt, Georgia Recorder U.S. House Republicans unveiled a debt limit proposal Wednesday that would lift the nation’s borrowing capacity by $1.5 trillion or suspend it through March. The bill, introduced by Speaker Kevin McCarthy, carries along with it numerous Republican initiatives that are unlikely to get the bipartisan support …

by Jennifer Shutt, Arizona Mirror U.S. House Speaker Kevin McCarthy traveled to the New York Stock Exchange on Monday to press for the Republican approach to raising the nation’s debt limit in front of a new audience, calling on Democrats to agree to future spending cuts without any tax increases. …

Congressional Democrats reiterated their opposition to steep federal spending cuts on Tuesday after Republican House Speaker Kevin McCarthy issued a vague outline of his caucus’ demands, which include more punitive work requirements for aid recipients and steep cuts to non-military spending. The GOP leader laid out the broad demands in …

Jennifer Shutt, New Jersey Monitor Congress’ Joint Economic Committee released a report Thursday detailing the economic repercussions of defaulting on the nation’s debt, adding fuel to the fire as Democrats pressed Republicans to address the nation’s borrowing limit without tying action to spending cuts. The report, from Democratic staff on …

John McCosh, Georgia Recorder Congress has until at least July to broker a bipartisan debt agreement if lawmakers want to avoid a first-ever default, according to the Congressional Budget Office. The nonpartisan scorekeeper, which typically details how much legislation would cost, released a report Wednesday saying that U.S. lawmakers and …

Jennifer Shutt, Idaho Capital Sun U.S. House Speaker Kevin McCarthy on Monday said the greatest threat to the nation’s future is the rising national debt, though he gave few specifics for how he planned to lower deficit spending or avoid a first-ever default on the debt this year. The California …

Jennifer Shutt, Wisconsin Examiner President Joe Biden and U.S. House Speaker Kevin McCarthy huddled behind closed doors at the White House on Wednesday in the first of what will likely be several conversations as the country approaches two fiscal cliffs this year amid divided government. The top issue at the …

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, …

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 …

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 …

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 …

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, …

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 …