Tag Archives: debt limit

Jennifer Shutt, Michigan Advance The U.S. government could default as soon as next month if Congress and the Biden administration can’t reach a debt limit agreement before then, according to a new analysis from the Bipartisan Policy Center. The updated guidance, which puts the default window between early June and …

Ashley Murray, Missouri Independent Unless Congress can strike a deal, the U.S. Treasury will likely default on the nation’s bills starting June 8, triggering major consequences for the economy, according to Mark Zandi of Moody’s Analytics. The risk assessment organization’s chief economist testified before the U.S. Senate Committee on the …

Ashley Murray, Idaho Capital Sun U.S. Treasury Secretary Janet Yellen warned Monday that the U.S. could default in as soon as one month if Congress does not act to raise the nation’s borrowing limit — a prediction that prompted President Joe Biden to call a meeting with congressional leaders next week. …

Brett Wilkins, Common Dreams U.S. progressives escalated their warnings this week as they accused House Speaker Kevin McCarthy of holding the debt limit “hostage” in service of the GOP’s pro-billionaire agenda, while urging President Joe Biden and Senate Democrats to firmly oppose GOP legislation linking any debt ceiling increase to …

Ashley Murray, Kansas Reflector House Republicans on Wednesday struggled but whipped just enough votes to pass their plan to temporarily raise the nation’s borrowing limit and also cut spending by slashing key parts of President Joe Biden’s climate and tax law, potentially risking some veterans’ health benefits and imposing more …

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 …

Jake Johnson, Common Dreams The House GOP leadership’s newly released debt ceiling legislation would have potentially devastating impacts on Medicaid recipients across the United States, putting more than 10 million low-income people at risk of losing health coverage under the program. That’s according to a detailed analysis of the bill …

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. …

Jennifer Shutt, Michigan Advance Economists on Tuesday urged Congress to address the debt limit quickly, cautioning that simply because U.S. lawmakers have successfully brokered deals before doesn’t mean they will be able to this year. “There is a temptation to brush off the developing debt limit drama, thinking it will …

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 …

Jennifer Shutt, Pennsylvania Capital-Star The nation reached its debt limit Thursday, beginning the uncertain process known as extraordinary measures, in which the U.S. Treasury Department uses accounting maneuvers to avoid defaulting on the debt. The often-used practice is intended to give the Republican House, Democratic Senate and Biden administration time …