Tag Archives: debt limit

President Joe Biden celebrated the successful resolution of a potential government default in his inaugural speech to the nation from the Oval Office on Friday. He expressed relief that a budget agreement had been reached, preventing a crisis that could have negatively impacted the U.S. and global economies. The bipartisan …

Jennifer Shutt, Georgia Recorder The bipartisan debt limit bill is on its way to President Joe Biden after the U.S. Senate voted Thursday to clear the measure for his signature. The 63-36 vote followed several amendment votes, all of which were rejected. Biden is expected to quickly sign the package, …

Ashley Murray, Florida Phoenix The holiday weekend debt ceiling deal struck by President Joe Biden and House Speaker Kevin McCarthy preserves in part new work requirements for some food stamp recipients but now with exceptions for certain populations, including veterans. The agreement released late Saturday night showed concessions from both …

Jennifer Shutt, Florida Phoenix Congress began moving the bipartisan debt limit package forward Tuesday, though frustrations with provisions in the bill could make for narrow passage in the U.S. House and U.S. Senate. Conservative Republicans and progressive Democrats both aired their disappointment with the agreement forged over the weekend, but only …

Rep. Pramila Jayapal said Sunday that the Biden White House should be concerned about securing the Congressional Progressive Caucus’ support for the newly announced debt ceiling agreement, given that the deal includes work requirements for aid programs and other provisions sure to infuriate the Democratic Party’s left flank. Jayapal (D-Wash.), …

House Speaker Kevin McCarthy announced a deal in principle Saturday night that would stave off a first-ever default on the nation’s debt as long as it can clear both chambers of Congress before June 5. The agreement would address the nation’s debt limit and include a “historic” reduction in spending, …

U.S. Treasury Secretary Janet Yellen on Friday warned Congress that the United States government will run out of money to pay its bills on June 5 if lawmakers don’t reach an agreement to raise the nation’s debt ceiling. “Based on the most recent available data, we now estimate that Treasury …

Jennifer Shutt, Georgia Recorder Republicans and Democrats in Congress together brokered dozens of debt limit agreements, including several during the past decade, marked by a desire in both political parties to increase federal spending. But U.S. House Republicans now are pushing for the federal government to spend less next year …

Jennifer Shutt, Georgia Recorder President Joe Biden and Speaker Kevin McCarthy left their closely watched meeting this week without an agreement on government spending or the debt limit, prolonging a stalemate that could soon disrupt Americans’ everyday lives as well as the global economy. Both struck a positive tone, though …

In the realm of fiscal policy, few topics generate as much attention and controversy as the debt ceiling. Often making headlines and dominating political discussions, the debt ceiling plays a pivotal role in the economic stability and financial management of a country. In this blog post, we will demystify the …

Jennifer Shutt, Iowa Capital Dispatch President Joe Biden said Sunday his administration has offered $1 trillion in spending cuts as part of the ongoing talks with Republicans around a budget agreement, but he said no deal has yet been reached. Biden, speaking from Japan during a press conference following the …

Jennifer Shutt, Michigan Advance A U.S. default on its debt would have a significantly broader impact on federal operations, financial markets and the global economy than recent government shutdowns that have left ordinary Americans largely untouched. While the two have been confused frequently during debate over the debt limit, the …

Jennifer Shutt, Florida Phoenix President Joe Biden and congressional leaders struggled to find common ground on the debt ceiling during a Tuesday meeting, though lawmakers said afterward there was some progress toward a deal. Biden and U.S. House Speaker Kevin McCarthy will become the two primary negotiators on a bipartisan …

Jennifer Shutt, Michigan Advance The federal government could default on its debt during the first two weeks of June without action on bipartisan legislation, according to the Congressional Budget Office. The nonpartisan budget scorekeeper issued an updated report Friday, warning that “if the debt limit remains unchanged, there is a significant risk …

Jennifer Shutt, New Jersey Monitor President Joe Biden and top congressional leaders were unable to reach a bipartisan debt limit agreement during a closed-door meeting Tuesday, leaving the dispute unresolved as the country moves closer to a default predicted as soon as early June. White House staff and aides to …