| 单词 | debt limit |
| 例句 | In doing so, he adopted a more combative tone than he generally showed during the weeks of debate this summer over raising the national debt limit. Obama jobs plan may include hiring tax break 2011-08-18T00:41:00Z This measure and several others like it are part of a package that would raise the debt limit to avert a potential U.S. default and a global economic crisis. Proposed SNAP work requirements target many low-income people who already work 2023-05-22T04:00:00Z Chamber of Commerce in Hong Kong early Monday, Secretary of State Hillary Rodham Clinton tried to reassure financial markets that America's economy is sound and a deal on the debt limit would be reached. GOP going solo after bipartisan talks collapse 2011-07-25T10:20:00Z The United States reached its debt limit on Thursday, hitting a $31.4 trillion debt cap. Jimmy Fallon Finds the Funny in the Debt Ceiling 2023-01-20T05:00:00Z Obama has said he opposes a short-term debt limit hike and instead wants about $2.4 trillion in new borrowing authority, which would extend through 2012. Obama to address nation on debt deadlock 2011-07-25T20:58:00Z August is not half over, and already it’s been a punishing month for Barack Obama: the debt limit fiasco; the Standard & Poor’s downgrade; the deaths of Navy Seals and other troops in Afghanistan. Books of The Times: One Nation, Still Divisible by Race 2011-08-11T22:00:15Z On his now more freewheeling Twitter account, Taylor quote-tweeted McConnell’s recent bluster about raising the debt limit and how Republicans “will not facilitate another reckless, partisan taxing and spending spree.” Perspective | For one Capitol reporter, Jan. 6 was the final straw — but he had watched a crisis brew for years 2021-09-17T04:00:00Z Every few months, the country faces a looming fiscal deadline - tax cuts are set to expire, or the nation's debt limit needs to be raised, or automatic spending cuts are to take effect. Column: Real or fake? It's hard to tell anymore 2013-02-11T11:01:06Z Bachmann responded that she was "at the tip of the spear" fighting 's healthcare plan and the debt limit increase, which prompted Pawlenty to remark that "leading and failing is not the objective." GOP candidates debate in Iowa 2011-08-12T05:43:00Z Talks were underway at the White House, he said, and progress was being made toward the Democratic demand for a long-term debt limit increase that would carry the government through the end of 2012. Senate debt vote delayed, Reid optimistic 2011-07-31T03:08:00Z It is sure to be rejected by Obama because it would raise the debt limit for only a few months, meaning the issue would have to be revisited early next year. Obama to address nation on debt deadlock 2011-07-25T20:58:00Z Boehner's plan would raise the debt limit in stages, forcing Congress to confront the politically painful issue again before the November 2012 election, when Obama is seeking a second term. Obama to address nation on debt deadlock 2011-07-25T20:58:00Z The Bakersfield Republican relied on Democratic votes to suspend the nation’s debt limit in May and to stave off a government shutdown in September. News Analysis: Mike Johnson just did the same thing that cost Kevin McCarthy his job 2023-11-14T05:00:00Z One would remove the debt limit placed on small city school districts under the state Constitution. Exonerated ‘Central Park Five’ member set to win council seat as New York votes in local elections 2023-11-06T05:00:00Z Proposal 1 would remove the debt limit placed on small city school districts under the state Constitution. AP Election Brief | What to expect in New York’s general election 2023-11-03T04:00:00Z Sherman must have known the truth all along because he had covered the debt limit negotiations in April 2022, when the CBO had scored the GOP’s proposal for IRS cuts as adding to the deficit. Column: The budget lie at the heart of House Speaker Johnson's Israel aid proposal 2023-11-03T04:00:00Z In June, legislation to raise the statutory debt limit also rescinded $1.4 billion given to the federal tax collector through the IRA. House GOP targets IRS in bill to provide emergency aid to Israel 2023-11-02T04:00:00Z That is a bigger audience than Biden attracted in June, when he made a prime-time Oval Office speech to trumpet a bipartisan deal to end the debt limit crisis. Biden's speech on Israel and Ukraine draws 20.3 million viewers -Nielsen 2023-10-20T04:00:00Z The second would extend an exclusion from the debt limit for sewage projects. Exonerated ‘Central Park Five’ member set to win council seat as New York votes in local elections 2023-11-06T05:00:00Z Proposal 2 would extend an exclusion from the debt limit for sewage projects. AP Election Brief | What to expect in New York’s general election 2023-11-03T04:00:00Z The United States, where brinkmanship around a debt limit brought it close to a default, Italy and Britain are of most concern, more than 20 prominent economists, former policymakers and big investors told Reuters. Insight: As global debt worries mount, is another crisis brewing? 2023-10-16T04:00:00Z McHenry was one of McCarthy’s closest allies, and helped him win the speaker’s contest in January and negotiate the debt limit deal that McCarthy made with President Joe Biden earlier this year. Rep. Patrick McHenry is the leader of the House, at least for now 2023-10-03T04:00:00Z He had backed away from a spending deal he struck with Democrats earlier in the year to raise the debt limit. Kevin McCarthy's replacement will inherit a poisoned chalice too 2023-10-03T04:00:00Z They have railed against his deal with the White House over raising the debt limit earlier this year and have demanded the House slash spending levels to new lows. Rep. Matt Gaetz is threatening to oust Speaker Kevin McCarthy. It won’t be easy. 2023-10-01T04:00:00Z This conflict has its roots in the debt limit increase that Congress passed and Biden signed in June. A government shutdown looms 2023-09-29T04:00:00Z The current crisis is a sequel to the standoff over raising the debt limit earlier this year. Biden says shutdown isn’t his fault. Will Americans agree? 2023-09-29T04:00:00Z He has called on McCarthy to enforce the spending levels agreed to in the debt limit deal. The far right has been feuding with McCarthy for weeks. Here’s how it’s spiraling into a shutdown. 2023-09-28T04:00:00Z Earlier this year political brinkmanship around the U.S. debt limit threatened to cause a U.S. sovereign debt default. US government shutdown bad for country’s credit, warns Moody’s 2023-09-25T04:00:00Z In June, the two chambers signed the agreement to raise the debt ceiling, suspending the debt limit until 2025. House GOP tees up another attempt to approve spending bills as Trump, McCarthy clash on shutdown 2023-09-25T04:00:00Z They knew that if the United States breached its debt limit, a financial crisis could follow. A government shutdown looms 2023-09-29T04:00:00Z “They failed on the debt limit, but they must not fail now,” he wrote on social media. Trump tells Republicans to shut down the government because Biden will get blamed 2023-09-25T04:00:00Z "They failed on the debt limit, but they must not fail now. Use the power of the purse and defend the Country!" “He’s not here, we are": House Republicans ice out Trump 2023-09-22T04:00:00Z "And it looks increasingly challenged because of things like the government shutdown and having come off the debt limit episode, because it's such a polarized political dynamic in Washington," he said. US government shutdown bad for country’s credit, warns Moody’s 2023-09-25T04:00:00Z “They failed on the debt limit, but they must not fail now. Use the power of the purse and defend the Country!” McCarthy gives in to right flank on spending cuts, but they still deliver a defeat as shutdown looms 2023-09-21T04:00:00Z The holdouts want steeper cuts that would adhere to the $1.47 trillion for annual discretionary funding they had initially advanced earlier this year to raise the nation’s debt limit. Speaker McCarthy faces an almost impossible task trying to unite House GOP and fund the government 2023-09-19T04:00:00Z EU fiscal rules underpin the value of the euro used by 20 countries and set a limit on budget deficits of 3% of GDP and a public debt limit of 60% of GDP. EU ministers agree on fiscal reform 'camino', aim for year-end deal 2023-09-16T04:00:00Z Ms. Greene was ousted from the caucus over the summer for supporting the debt limit bill that Speaker Kevin McCarthy and President Biden produced to avoid a default. Majorie Taylor Greene rips fiery Freedom Caucus 2023-09-15T04:00:00Z A debt limit is a cap set by Congress on how much money the U.S. government can borrow, which needs to be periodically raised. Factbox: US government shutdown: what does it mean? 2023-09-08T04:00:00Z Last spring House Speaker Kevin McCarthy rightly got props from folks across the political spectrum, myself included, for compromising with President Biden to raise the nation’s debt limit and thereby avert economic armageddon. Opinion: Coming soon — 'Impeachment theater' and Kevin McCarthy's bow to the MAGA crazies 2023-09-07T04:00:00Z Fitch stated then that “risks have risen that the debt limit will not be raised or suspended ... and consequently that the government could begin to miss payments on some of its obligations.” Column: A big credit rating agency just downgraded the U.S. Should you worry? 2023-08-08T04:00:00Z Yellen said that fiscal responsibility was a priority for her and Biden, and the June debt limit deal he reached with Republicans included more than $1 trillion in deficit reduction over 10 years. Yellen: Fitch downgrade 'entirely unwarranted' amid US economy's strength 2023-08-02T04:00:00Z But the decision is another sign that Wall Street is worried about political chaos, including brinkmanship over the debt limit that is becoming entrenched in Washington. Fitch’s Warning About America’s Fiscal Future 2023-08-02T04:00:00Z It said U.S. governance has declined relative to other highly rated countries and it noted “repeated debt limit standoffs and last-minute resolutions.” Fitch downgrades US credit rating, citing mounting debt and political divisions 2023-08-01T04:00:00Z Under the terms of the debt limit agreement, if all appropriations bills are not passed by the end of the year, an automatic 1 percent cut would be applied to discretionary federal spending. Divided Over Money and Policy, House G.O.P. Punts on Spending Bill 2023-07-27T04:00:00Z A provision concerning the pipeline was tucked into legislation enacted in June to raise the debt limit and avoid a government shutdown. Supreme Court Clears the Way for Mountain Valley Pipeline as Appeal Moves Forward 2023-07-27T04:00:00Z The trip was canceled at the last minute, however, as Mr. Biden rushed home to deal with debt limit talks with congressional Republicans in Washington. South Sea scramble: Blinken, Austin lead challenge to China’s Pacific Islands clout 2023-07-25T04:00:00Z The White House said the reason for spiking the spending bills was that House Speaker Kevin McCarthy has reneged on the debt limit deal with Mr. Biden. Biden will veto House military, health and agriculture spending bills 2023-07-24T04:00:00Z President Joe Biden asked a group of aides to explore "all legal and policy options" to prevent another debt limit standoff, the White House said on Thursday. Biden asks aides for options preventing future debt limit crisis 2023-07-20T04:00:00Z At their insistence, he has embraced funding levels far below what he agreed to in May as part of a deal with President Biden to suspend the debt limit and avoid a federal default. House Republicans Demand Deep Cuts to Spending Bills They Rarely Support 2023-07-02T04:00:00Z Biden’s foreign trips in April and May, and the weeks-long showdown over raising the nation’s debt limit, kept him in Washington. Biden is wrapping a campaign fundraising blitz aimed at making a bold early statement 2023-06-28T04:00:00Z The slight uptick could be due to Biden and GOP lawmakers reaching an agreement on the debt limit and removing the threat of an unprecedented government default. 41% of US adults approve of Biden. Here’s what a new poll tells us about the president 2023-06-28T04:00:00Z In that scenario, it would fall to a coalition of lawmakers similar to the one that approved the debt limit deal to push the spending bills through the House. House G.O.P. Uses Spending Bills to Pick Partisan Policy Fights 2023-06-23T04:00:00Z White House officials say Republicans’ quick pivot to tax cuts reveals they were never sincere about shrinking deficits during the debt limit debate. Who gets a break? Clashing ideas on tax relief are teed up for the 2024 campaign 2023-06-19T04:00:00Z However, restoring the credit could make the tax package all the more difficult to pass given the spending limits imposed by the debt limit deal struck last month by Mr. McCarthy and Mr. Biden. GOP’s tax bill gives over $200 billion in cuts, punishes Chinese and Russian land grabs in U.S. 2023-06-17T04:00:00Z A Treasury Department report noted the milestone weeks after Congress agreed to suspend the nation’s statutory debt limit, ending a monthslong standoff. U.S. National Debt Tops $32 Trillion for First Time 2023-06-16T04:00:00Z If they cannot, under the terms of the debt limit deal, across-the-board spending cuts will kick in in 2025, a worst-case scenario that lawmakers in both parties want to avoid. Debt Deal Behind Them, Lawmakers Plunge Into Bitter Spending Fight 2023-06-15T04:00:00Z Earlier this year, Mr. McCarthy passed on an opportunity to address the programs in bipartisan negotiations to hike the federal debt limit. Republicans push McCarthy to address Social Security, Medicare in the spending fight 2023-06-14T04:00:00Z Those differences point toward the risks in 2025, when the debt limit drama restarts and tax breaks for the middle class and wealthy alike are on the verge of lapsing. Who gets a break? Clashing ideas on tax relief are teed up for the 2024 campaign 2023-06-19T04:00:00Z Without the green energy clawback, the total cost of the $237 billion tax cut package could run afoul of the debt limit agreement. GOP’s tax bill gives over $200 billion in cuts, punishes Chinese and Russian land grabs in U.S. 2023-06-17T04:00:00Z Indeed, he did exactly that to force a vote on his deal with President Biden to waive the debt limit until after the 2024 election. McCarthy quells conservative blockade of bills but peace could be short-term 2023-06-13T04:00:00Z They were outraged over Mr. McCarthy’s deal with President Biden to suspend the debt limit and avert a federal default, which included spending caps far higher than what House Republicans had endorsed. G.O.P. Rebels Are Breaking the Rule on Rules, Upending How the House Works 2023-06-13T04:00:00Z Last month, Mr. McCarthy and Mr. Biden struck a deal to suspend the debt limit until January 2025 in exchange for spending cuts. Top House Democrat accuses McCarthy of ‘walking away’ from debt limit deal 2023-06-13T04:00:00Z Specifically, they want Mr. McCarthy to rule out using Democratic votes to pass legislation over their opposition — as happened with the debt limit deal. House breaks legislative logjam after McCarthy agrees to negotiate with Freedom Caucus 2023-06-13T04:00:00Z House Speaker Kevin McCarthy has agreed to push for a $130 billion spending cut in the upcoming government funding battle in contravention of the debt limit deal struck with President Biden last month. McCarthy OKs $130 billion spending cut, portending potential government shutdown 2023-06-13T04:00:00Z “He understood that. We understood that. And it has to be renegotiated in a way so that what happened on the debt limit vote would never happen again.” McCarthy quells conservative blockade of bills but peace could be short-term 2023-06-13T04:00:00Z The committee narrowly sent the debt limit legislation to the floor late last month over the objections of two Freedom Caucus members on the panel. G.O.P. Rebels Are Breaking the Rule on Rules, Upending How the House Works 2023-06-13T04:00:00Z The debt limit deal struck by Mr. Biden and Mr. McCarthy includes a provision implementing a 1% spending cut if Congress fails to pass an annual budget by Jan. 1. Top House Democrat accuses McCarthy of ‘walking away’ from debt limit deal 2023-06-13T04:00:00Z Last week, Mr. Clyde publicly accused GOP leaders of threatening to kill his legislation if he voted against Mr. McCarthy’s deal with President Biden to raise the nation’s debt limit past the 2024 elections. House breaks legislative logjam after McCarthy agrees to negotiate with Freedom Caucus 2023-06-13T04:00:00Z The move contradicts the debt limit agreement struck between Mr. McCarthy and Mr. Biden, which keeps domestic spending flat while hiking the defense budget by more than 3%. McCarthy OKs $130 billion spending cut, portending potential government shutdown 2023-06-13T04:00:00Z The pledge to cut more than $100 billion in spending reneges on Mr. McCarthy’s debt limit deal with the White House, which agreed to keep domestic spending flat while raising the defense budget by 3%. McCarthy quells conservative blockade of bills but peace could be short-term 2023-06-13T04:00:00Z The intraparty feud erupted last week in reaction to the compromise Mr. McCarthy struck with Mr. Biden to suspend the debt limit, which contained only a fraction of the spending cuts Republicans had demanded. Hard Right Agrees to Allow House Votes but Threatens Continued Blockade 2023-06-12T04:00:00Z A top member of the House Democratic leadership accused Speaker Kevin McCarthy of reneging on the debt limit agreement struck with President Biden last month. Top House Democrat accuses McCarthy of ‘walking away’ from debt limit deal 2023-06-13T04:00:00Z Conservatives allied with the House Freedom Caucus are upset that Mr. McCarthy ignored their opposition and pushed through legislation suspending the debt limit until after the 2024 elections with help from House Democrats. McCarthy cancels House votes amid private negotiations with conservative rebel holdouts 2023-06-12T04:00:00Z Mrs. Granger defended the move, saying the debt limit deal set a ceiling, not a floor, for government spending. McCarthy OKs $130 billion spending cut, portending potential government shutdown 2023-06-13T04:00:00Z Democrats, who control the White House and Senate, are unlikely to back a government-funding bill that reneges on the spending levels set in the debt limit law. McCarthy quells conservative blockade of bills but peace could be short-term 2023-06-13T04:00:00Z Conservatives are upset that Mr. McCarthy ignored their opposition and pushed through legislation suspending the debt limit until after the 2024 elections with help from House Democrats. Conservative rebels push McCarthy to defund 1,100 federal programs in government spending fight 2023-06-12T04:00:00Z In exchange for restoring order to the House, conservative lawmakers demanded that Mr. McCarthy rule out using Democratic votes to pass legislation over their opposition — as happened with the debt limit deal. Top House Democrat accuses McCarthy of ‘walking away’ from debt limit deal 2023-06-13T04:00:00Z Given the narrow House majority, Mr. McCarthy can only lose four GOP lawmakers on any vote before having to rely on Democrats as happened with the debt limit deal. McCarthy cancels House votes amid private negotiations with conservative rebel holdouts 2023-06-12T04:00:00Z The party is unlikely to back a government funding bill that reneges on the spending levels set in the debt limit law. McCarthy OKs $130 billion spending cut, portending potential government shutdown 2023-06-13T04:00:00Z Last week, Mr. Clyde publicly claimed that GOP leaders had threatened to kill his legislation if he voted against Mr. McCarthy’s deal with President Biden to raise the debt limit past the 2024 elections. Speaker Kevin McCarthy vexed by conservative revolt as House returns to Washington 2023-06-11T04:00:00Z They were coupled with an urgently needed increase in U.S. borrowing authority by suspending the debt limit through Jan. 1, 2025. US House Republicans unveil broad package of tax cuts 2023-06-09T04:00:00Z It failed on a procedural vote only because a few far-right Republicans voted no, in protest against Speaker Kevin McCarthy's insufficient zeal in holding the nation's economy hostage in the debt limit negotiations. The party of pollution, disease and death: When Republicans tell you who they are, believe them 2023-06-09T04:00:00Z The demand contradicts Mr. McCarthy’s debt limit agreement with the White House, which keeps domestic spending flat while hiking the defense budget by more than 3%. McCarthy cancels House votes amid private negotiations with conservative rebel holdouts 2023-06-12T04:00:00Z Some of those critics now say the leadership must commit to enacting deeper cuts through the 12 annual spending measures, holding spending below the limits agreed to in the debt limit deal. House Mutiny Leaves McCarthy Facing Tough Choices 2023-06-08T04:00:00Z The claim stirred to action the Freedom Caucus, which was already fuming that Mr. McCarthy had used Democratic votes to pass the debt limit deal over their opposition. Speaker Kevin McCarthy vexed by conservative revolt as House returns to Washington 2023-06-11T04:00:00Z Speaker Kevin McCarthy’s debt limit deal has spawned such bad blood within the House Republican Conference that it threatens to upend the rest of the GOP’s agenda for this year. Hardliners threaten to freeze McCarthy’s legislative agenda in retaliation for Biden debt limit deal 2023-06-08T04:00:00Z Carl Hulse, our chief Washington correspondent, wrote about how covering the debt limit crisis required knowledge of arcane congressional processes and pure stamina. Your Wednesday Briefing 2023-06-07T04:00:00Z But Freedom Caucus members took umbrage at the speaker’s efforts to rally Republican votes for the debt limit bill, accusing him of using hardball tactics to try to bully them into backing the deal. Hard Right Grinds House to a Halt, Rebuking McCarthy for the Debt Deal 2023-06-06T04:00:00Z Even leading Senate Republicans see the Pentagon funding agreed to in the debt limit package as far too low and say it must be supplemented to keep Ukraine in the field against Russia. House Mutiny Leaves McCarthy Facing Tough Choices 2023-06-08T04:00:00Z Mr. Jeffries of New York, the House minority leader, gave a simple “no” when asked if Democrats would accept a budget below the spending level agreed in the debt limit deal. Speaker Kevin McCarthy vexed by conservative revolt as House returns to Washington 2023-06-11T04:00:00Z The rebels are upset over Mr. McCarthy’s deal with President Biden to suspend the $32.4 trillion debt limit beyond the 2024 presidential election and passing the deal with the help of Democratic votes. Hardliners threaten to freeze McCarthy’s legislative agenda in retaliation for Biden debt limit deal 2023-06-08T04:00:00Z The rebels are upset over Mr. McCarthy’s deal with President Biden to raise the debt limit beyond the 2024 presidential election and the tactics used to pass it last week. McCarthy forced to send House lawmakers home after Freedom Caucus insurgency paralyzes chamber 2023-06-07T04:00:00Z But that was unlikely to quell the fury of right-wing Republicans over the debt limit deal. Hard Right Grinds House to a Halt, Rebuking McCarthy for the Debt Deal 2023-06-06T04:00:00Z “The debt limit last week displayed just how far House Republicans have come as a team.” House conservatives block GOP bills, voice frustration in response to last week’s debt ceiling vote 2023-06-06T04:00:00Z Mr. McCarthy, who enraged ultraconservative Republicans by striking a compromise with President Biden to suspend the debt limit, has yet to face a bid to depose him, as some hard-right members have threatened. House Is Paralyzed as Far-Right Rebels Continue Mutiny Against McCarthy 2023-06-07T04:00:00Z That is outside the debt limit agreement, which keeps domestic spending flat while hiking the defense budget by more than 3%. Hardliners threaten to freeze McCarthy’s legislative agenda in retaliation for Biden debt limit deal 2023-06-08T04:00:00Z Members of the Freedom Caucus say the delay is warranted because of Mr. McCarthy’s deal last week to hike the debt limit beyond the 2024 presidential election and the tactics used to pass it. Freedom Caucus paralyzes House to pressure McCarthy against accepting future deals with Democrats 2023-06-07T04:00:00Z Carl Hulse, our chief Washington correspondent, wrote about how covering the debt limit crisis required a combination of arcane knowledge and pure stamina. Your Wednesday Briefing: A Dam Destroyed in Ukraine 2023-06-06T04:00:00Z Conservative hardliners are continuing to block the flow of legislation in the House amid a standoff with Speaker Kevin McCarthy over the recently passed debt limit deal. House GOP leaders delay legislative business amid opposition from conservatives 2023-06-07T04:00:00Z Members of the House Freedom Caucus on Tuesday blocked four popular GOP bills from getting a vote, sending a very public message of disapproval of Speaker Kevin McCarthy’s debt limit deal with President Biden. Freedom Caucus rebels vex Speaker McCarthy by blocking GOP bills 2023-06-06T04:00:00Z Mr. McCarthy on Monday said it was premature to discuss circumventing the recently passed debt limit agreement, which set topline levels for defense spending through 2025. McCarthy rejects supplemental Ukraine aid bill following debt limit agreement 2023-06-06T04:00:00Z The deal to end the United States' debt limit standoff was classic Joe Biden politics: eke out a narrow compromise from an ugly beginning and declare victory. New Zealand curbs disposable vapes to deter the young 2023-06-06T04:00:00Z The deal to end the United States' debt limit standoff was classic Joe Biden politics: eke out a narrow compromise from an ugly beginning and declare victory. Chinese ships leave Vietnam waters after US-China talks 2023-06-06T04:00:00Z Rep. Matt Gaetz said that Mr. McCarthy’s push to pass the debt limit agreement with the help of House Democrats undercut the changes conservatives fought for in the rules package. House GOP leaders delay legislative business amid opposition from conservatives 2023-06-07T04:00:00Z The deal to end the United States' debt limit standoff was classic Joe Biden politics: eke out a narrow compromise from an ugly beginning and declare victory. What is the Kakhovka dam in Ukraine? 2023-06-06T04:00:00Z The debt limit agreement reached by Mr. McCarthy and President Biden keeps domestic spending flat for the coming fiscal year. McCarthy rejects supplemental Ukraine aid bill following debt limit agreement 2023-06-06T04:00:00Z In their debt limit negotiations, both President Joe Biden and House of Representatives Speaker Kevin McCarthy vowed not to touch the main driver of U.S. debt: rising Social Security pension and Medicare health benefit costs. Analysis: Debt-ceiling deal ignores US debt time bomb 2023-06-05T04:00:00Z Treasury expected to begin refilling its coffers now that the debt limit has been raised. Dollar bears bide their time as U.S. economic strength persists 2023-06-05T04:00:00Z Mr. Clyde has said that members of the GOP leadership threatened to tank a legislative pet initiative if he voted against the debt limit deal. House GOP leaders delay legislative business amid opposition from conservatives 2023-06-07T04:00:00Z “This debt limit deal is focused only on discretionary spending. If you want to cut Social Security, be my guest. But that’s not what this deal is about.” Debt limit deal gives Washington a blank check 2023-06-03T04:00:00Z Mr. Graham and allies held up consideration of the debt limit law last week until assured that Congress would move a supplemental defense bill. McCarthy rejects supplemental Ukraine aid bill following debt limit agreement 2023-06-06T04:00:00Z The final agreement, passed by the House on Wednesday and the Senate on Thursday, suspends the debt limit until 2025 — after the next presidential election — and restricts government spending. Biden signs debt ceiling bill that pulls U.S. back from brink of unprecedented default 2023-06-03T04:00:00Z It raises the debt limit until 2025 - after the 2024 presidential election - and gives legislators budget targets for the next two years in hopes of assuring fiscal stability as the political season heats up. Biden set to sign debt ceiling bill that averts prospect of unprecedented federal default 2023-06-03T04:00:00Z Bush, a member of the Congressional Progressive Caucus, voted “no” on the debt limit deal on Wednesday night after she spent days hearing from advocate groups and constituents on the issue. Debt deal imposes new work requirements for food aid and that frustrates many Democrats 2023-06-03T04:00:00Z Opponents of the new debt limit deal say the agreement essentially has enshrined pandemic-era emergency spending levels as the new normal. Debt limit deal gives Washington a blank check 2023-06-03T04:00:00Z It raises the debt limit until 2025 — after the 2024 presidential election — and gives legislators budget targets for the next two years in hopes of assuring fiscal stability as the political season heats up. Biden set to sign debt ceiling bill that averts prospect of unprecedented federal default 2023-06-03T04:00:00Z But privately, many aides had been planning on talks all along — though they refused to admit those talks were linked to the debt limit. Biden’s Debt-Deal Strategy: Win in the Fine Print 2023-06-03T04:00:00Z “The debt limit is very important for America and the economy. But it’s pretty obscure.” Biden delivers first Oval Office speech, celebrates 'a crisis averted' 2023-06-02T04:00:00Z Government Accountability Office said delays in raising the debt limit in 2011 led to an increase in the Treasury’s borrowing costs of about $1.3 billion that year. Analysis: Risk of US downgrade still on the cards despite debt deal 2023-06-02T04:00:00Z The deal suspends the nation’s debt limit until 2025, after the next presidential election, and ensures that the government can continue borrowing to pay already incurred U.S. debts. Deal approved, Biden will address budget, debt agreement from Oval Office Friday evening 2023-06-02T04:00:00Z Raising the nation’s debt limit, now at $31.4 trillion, will ensure that the government can borrow to pay debts already incurred. Biden set to sign debt ceiling bill that averts prospect of unprecedented federal default 2023-06-03T04:00:00Z It featured work requirements and measures to speed fossil fuel projects, and it raised the debt limit for one year. Biden’s Debt-Deal Strategy: Win in the Fine Print 2023-06-03T04:00:00Z Back in 2011, for example, a protracted dispute over the debt limit nearly ended in a default and led to a downgrade in the pristine AAA rating of U.S. debt by Standard & Poor’s. The Treasury Paradox 2023-06-02T04:00:00Z Fitch on Friday said its rating will remain on negative watch despite the debt deal, as repeated political standoffs and last-minute debt limit suspensions lower "confidence in governance on fiscal and debt matters." Analysis: Risk of US downgrade still on the cards despite debt deal 2023-06-02T04:00:00Z Some legal experts believe that a president could use that passage to ignore the statutory debt limit, thereby avoiding the regular clashes between the parties. Biden to Deliver Oval Office Address as U.S. Averts Default 2023-06-02T04:00:00Z Market futures are looking up today after the Senate approved the bipartisan debt limit deal, averting a national fiscal crisis. Markets Await Clues for Fed’s Next Move in May Jobs Report 2023-06-02T04:00:00Z The Senate passed the debt limit bill to avoid a default. The Three Other Trump Investigations 2023-06-02T04:00:00Z Senate gave final approval to bipartisan legislation suspending the debt limit and imposing new spending caps. Your Friday Briefing 2023-06-02T04:00:00Z Senate Majority Leader Charles E. Schumer pushed through legislation on Thursday waiving the nation’s debt limit until January 2025, overcoming obstacles put up by defense hawks, conservative spendthrifts, and even environmentalist Democrats. Senate passes debt limit bill, averting first-ever default 2023-06-01T04:00:00Z All 100 senators reached an agreement to debate up to 11 amendments and then promptly vote on passing the legislation, before a Monday deadline for suspending the debt limit through Jan. 1, 2025. Dollar wallows as June Fed bets ebb, debt ceiling deal close 2023-06-02T04:00:00Z The wrangling over the nation’s debt limit raises a lot of questions, including what it actually is and why the United States has one. So What Is the Debt Limit Anyway? Here’s What to Know. 2023-06-01T04:00:00Z Mr. Schumer also faced rebellion from fellow Democrats over the debt limit deal’s energy provisions. Senate races to pass debt-limit deal to avoid first-ever default 2023-06-01T04:00:00Z But it was also a standoff largely instigated by Republicans who argued they needed to use the debt limit threat as a cudgel to rein in federal spending. ‘Shrink the room:’ How Biden and McCarthy struck a debt-limit deal and staved off a catastrophe 2023-06-01T04:00:00Z Late in the evening, the Senate comfortably passed the debt limit deal struck by President Biden and House Speaker Kevin McCarthy. Senate passes debt limit bill, averting first-ever default 2023-06-01T04:00:00Z The White House says Mr. Biden didn’t actually negotiate on the debt limit, but instead was negotiating on a budget framework. Most in GOP praise virtuoso performance by McCarthy in debt deal 2023-06-01T04:00:00Z For nearly 100 days, as the speaker tells it, the president refused to meet over the debt limit. Underestimated McCarthy emerges from debt deal empowered as speaker, still threatened by far right 2023-06-01T04:00:00Z Mr. McCarthy has already pledged that the debt limit deal is only a precursor to a fight over budget cuts as Congress begins to assemble this fall’s government funding bill. Senate races to pass debt-limit deal to avoid first-ever default 2023-06-01T04:00:00Z A week later, Biden and McCarthy essentially adopted that path, tapping a handful of trusted emissaries to negotiate a deal that would lift the debt limit. ‘Shrink the room:’ How Biden and McCarthy struck a debt-limit deal and staved off a catastrophe 2023-06-01T04:00:00Z Hard-line Republicans complained they had secured too few concessions in exchange for raising the debt limit. Debt ceiling deal heads to US Senate for approval 2023-06-01T04:00:00Z Former President Donald Trump said he would have allowed the government to bump into the debt limit — an unprecedented situation that many analysts say would mean default on U.S. obligations and resulting economic chaos. Most in GOP praise virtuoso performance by McCarthy in debt deal 2023-06-01T04:00:00Z Even as the deal migrated across the Capitol, the effects of the debt limit continued to pinch. Debt Limit Fight Moves to the Senate 2023-06-01T04:00:00Z However, GOP maneuvering will be limited since the debt limit deal sets top-line spending levels for the next two years. Senate races to pass debt-limit deal to avoid first-ever default 2023-06-01T04:00:00Z It added that it may postpone these auctions if Congress has not passed legislation to raise the debt limit by the time of the planned sale on June 5. Treasury says further bill auctions depend on raising debt limit 2023-06-01T04:00:00Z Doing so, they explained, would encourage future ransom demands when the country again approached its debt limit. The House Passed the Bill. Who Won? 2023-06-01T04:00:00Z Mr. Cole said some Republicans who backed the debt limit increase had never voted for one before. Most in GOP praise virtuoso performance by McCarthy in debt deal 2023-06-01T04:00:00Z Raising the nation’s debt limit, now $31 trillion, ensures Treasury can borrow to pay already incurred U.S. debts. After sailing though House on bipartisan vote, Biden-McCarthy debt ceiling deal now goes to Senate 2023-05-31T04:00:00Z The House on Wednesday evening approved the compromise deal between Speaker Kevin McCarthy and President Biden to raise the nation’s debt limit and thereby avert a default and economic calamity, at least through 2024. Opinion: In the debt limit showdown, both Biden and (surprise!) McCarthy are winners 2023-05-31T04:00:00Z The bill approved by the House on Wednesday would suspend the debt limit - essentially meaning that it no longer applies - through Jan. 1, 2025. McCarthy's moment: Debt ceiling win secures Republican US House speaker's standing 2023-06-01T04:00:00Z Four Times opinion columnists discuss the debt limit. The House Passed the Bill. Who Won? 2023-06-01T04:00:00Z He said the speaker laid the foundation for victory when he unified House Republicans in April behind a bill to raise the debt limit while slashing federal spending. Most in GOP praise virtuoso performance by McCarthy in debt deal 2023-06-01T04:00:00Z House Speaker Kevin McCarthy beat back a revolt from conservative Republicans and opposition from progressive Democrats on Wednesday to pass his bipartisan debt limit deal. McCarthy quells conservative revolt, House passes debt-limit deal 2023-05-31T04:00:00Z I thought he was correct, if off-brand, to insist for months that he wouldn’t bargain over raising the debt limit. Opinion: In the debt limit showdown, both Biden and (surprise!) McCarthy are winners 2023-05-31T04:00:00Z House of Representatives overwhelmingly approved a deal to suspend the debt limit late Wednesday, reducing the risk of a potentially disastrous default. House approves bipartisan deal to suspend debt limit, reducing fear of U.S. default 2023-05-31T04:00:00Z Kevin McCarthy was able to push Joe Biden and reluctant Democrats to the negotiating table by passing a bill that raised the debt limit but included a laundry list of conservative priorities. Debt ceiling deal: US House overwhelmingly passes bill 2023-05-31T04:00:00Z Rep. Thomas Massie, Kentucky Republican who has been in Congress since 2012, had never voted for a debt limit increase before this year. Most in GOP praise virtuoso performance by McCarthy in debt deal 2023-06-01T04:00:00Z Within the debt limit, Mr. McCarthy and Mr. Biden tucked in a provision ensuring a 1% spending cut across the government if Congress does not adopt a funding bill by January 1, 2024. Debt limit deal on verge of passing House, Freedom Caucus weighs retaliation against McCarthy 2023-05-31T04:00:00Z House Speaker Kevin McCarthy’s deal with President Biden to hike the nation’s debt limit until after the 2024 election cleared a key test vote on Wednesday despite an internal GOP rebellion. McCarthy’s debt limit deal passes initial hurdle thanks to Democratic votes 2023-05-31T04:00:00Z Republicans, who control the House, have been demanding concessions in exchange for voting to raise the debt limit. WA's Pramila Jayapal to vote against debt limit deal 2023-05-31T04:00:00Z Ultra-conservative Republicans complained they had secured too few concessions in exchange for raising the debt limit. Debt ceiling deal: US House overwhelmingly passes bill 2023-05-31T04:00:00Z Any changes to the legislation would send it back to the House for another vote, all but ensuring the U.S. would fail to lift the debt limit before Monday. Biden-McCarthy debt limit deal to face new obstacles in Senate as looming deadline closes in 2023-05-31T04:00:00Z Conservative hardliners within the Freedom Caucus are weighing a maneuver to oust the speaker over the debt limit deal. Debt limit deal on verge of passing House, Freedom Caucus weighs retaliation against McCarthy 2023-05-31T04:00:00Z Some moderate Republicans also say the bill is a far call from the debt limit proposal passed by House Republicans last month. McCarthy’s debt limit deal passes initial hurdle thanks to Democratic votes 2023-05-31T04:00:00Z The debt limit, which the country is expected to hit next week, barring congressional action, caps the amount of debt the country can incur. WA's Pramila Jayapal to vote against debt limit deal 2023-05-31T04:00:00Z The agreement would waive the $31.4 trillion debt limit until after the 2024 presidential election, claw back billions of dollars in unspent pandemic relief, and cut IRS funding. Biden-McCarthy debt limit deal will end student loan repayment moratorium 2023-05-31T04:00:00Z Sen. Tim Kaine, the mild-mannered Virginia Democrat, unleashed on the White House for what he characterized as getting blindsided on the approval of the Mountain Valley Pipeline in the debt limit bill. Biden-McCarthy debt limit deal to face new obstacles in Senate as looming deadline closes in 2023-05-31T04:00:00Z Representative Bob Good of Virginia openly marveled at how “our own leadership” caved to Democrats on major tenets of the debt limit bill that Republicans passed last month. Can McCarthy Pass the Debt Deal and Keep His Job? 2023-05-31T04:00:00Z Within the debt limit, Mr. McCarthy and Mr. Biden tucked in a provision ensuring a 1% spending cut across the government if Congress does not adopt a funding bill by Jan. 1. McCarthy’s debt limit deal passes initial hurdle thanks to Democratic votes 2023-05-31T04:00:00Z But Congress has already authorized spending in excess of the debt limit. WA's Pramila Jayapal to vote against debt limit deal 2023-05-31T04:00:00Z Ending the moratorium is only one part of the bipartisan debt limit agreement struck by Mr. Biden and House Republicans. Biden-McCarthy debt limit deal will end student loan repayment moratorium 2023-05-31T04:00:00Z The Senate is struggling to reach an arrangement to allow for swift passage of the Biden-McCarthy debt limit deal before next week’s default deadline. Biden-McCarthy debt limit deal to face new obstacles in Senate as looming deadline closes in 2023-05-31T04:00:00Z House Speaker Kevin McCarthy is proposing a bipartisan commission to outline future budget cuts in hopes of mollifying hardline conservatives opposed to his debt limit deal. McCarthy pledges bipartisan commission to find budget cuts as debt limit hardliners decry Biden deal 2023-05-31T04:00:00Z Shalanda Young, the White House budget director, demurred Tuesday when asked about doing away with the debt limit and said that her only focus was getting the bill to Biden’s desk and avoiding a default. 14th Amendment questions linger despite debt-limit deal 2023-05-31T04:00:00Z But she also said she wished he’d more seriously considered using the 14th Amendment to the Constitution to say that he would not default on the nation’s debt and declare the debt limit invalid. WA's Pramila Jayapal to vote against debt limit deal 2023-05-31T04:00:00Z That move disappointed some progressive groups that have been pushing the administration to invoke the 14th Amendment to defuse the debt limit fight. 14th Amendment Questions Linger Despite Debt Limit Deal 2023-05-31T04:00:00Z The former president, Mr. DeSantis said, is failing to lead when it comes to federal spending by refusing to weigh in on a bipartisan compromise bill to waive the debt limit. In Iowa, DeSantis starts throwing punches back at Trump 2023-05-30T04:00:00Z The announcement comes as hardline members of the House Freedom Caucus are in revolt over the bipartisan debt limit Mr. McCarthy struck with President Biden. McCarthy pledges bipartisan commission to find budget cuts as debt limit hardliners decry Biden deal 2023-05-31T04:00:00Z A White House spokesperson declined to comment on how Biden might test the 14th Amendment question in the aftermath of the debt limit fight. 14th Amendment questions linger despite debt-limit deal 2023-05-31T04:00:00Z The bill would raise the debt limit for two years in exchange for capping some spending and adding new work requirements for some safety net programs. Why McCarthy and Biden both stand to gain from the debt deal — if they can get it passed 2023-05-30T04:00:00Z A White House spokesman declined to comment on how Mr. Biden might test the 14th Amendment question in the aftermath of the debt limit fight. 14th Amendment Questions Linger Despite Debt Limit Deal 2023-05-31T04:00:00Z Mr. DeSantis, like many fiscal conservatives in Congress, said he opposes the debt limit deal because it does not go far enough to cut spending. In Iowa, DeSantis starts throwing punches back at Trump 2023-05-30T04:00:00Z The agreement would raise the $31.4 trillion debt limit until after the 2024 presidential election, claw back billions of dollars in unspent pandemic relief and cut IRS funding. McCarthy pledges bipartisan commission to find budget cuts as debt limit hardliners decry Biden deal 2023-05-31T04:00:00Z After declaring this year that he would not negotiate spending cuts in exchange for raising the debt limit, Biden did exactly that. 14th Amendment questions linger despite debt-limit deal 2023-05-31T04:00:00Z The agreement would waive the $31.4 trillion debt limit until after the 2024 presidential election, claw back billions of dollars in unspent pandemic relief, and cut more than $20 billion in IRS funding. CBO: Biden-McCarthy debt-limit deal will cut deficit by $1.5 trillion, increase food stamp enrollees 2023-05-30T04:00:00Z Although this debt limit standoff appears to be resolved, future fights are lurking. 14th Amendment Questions Linger Despite Debt Limit Deal 2023-05-31T04:00:00Z Mr. McCarthy was buoyed Tuesday when a key GOP holdout on the House Rules Committee agreed to advance the debt limit deal. Freedom Caucus threatens ouster as McCarthy rushes forward with debt-limit vote 2023-05-30T04:00:00Z It would suspend the debt limit until January 2025, after the next presidential election. Debt ceiling takeaways: Biden’s invite to liberal skeptics to ‘talk to me,’ McCarthy’s balancing act 2023-05-29T04:00:00Z They also noted that they were able to block Republicans from rolling back many of the climate law’s clean energy provisions as part of the debt limit compromise. Debt Deal Includes a Green Light for a Contentious Pipeline 2023-05-30T04:00:00Z Some investors though remained apprehensive about the debt limit agreement, as some of the proposed bill's provisions could undermine economic growth. Cost of insuring against US default contracts further on debt bill hopes 2023-05-30T04:00:00Z The agreement President Biden struck with House Republicans to raise the debt limit aims to avert a catastrophic default on the nation’s debt. 14th Amendment Questions Linger Despite Debt Limit Deal 2023-05-31T04:00:00Z The Freedom Caucus had designated the Rules Committee as the first battle in its effort to kill the debt limit proposal. Freedom Caucus threatens ouster as McCarthy rushes forward with debt-limit vote 2023-05-30T04:00:00Z But pushed by a reporter Sunday evening who noted that was precisely what Republicans were seeking in exchange for lifting the debt limit, the president seemed to break from his talking point. Debt ceiling takeaways: Biden’s invite to liberal skeptics to ‘talk to me,’ McCarthy’s balancing act 2023-05-29T04:00:00Z Senator Tim Kaine, Democrat of Virginia, said he planned to file an amendment to strip out the pipeline language from the debt limit bill. Debt Deal Includes a Green Light for a Contentious Pipeline 2023-05-30T04:00:00Z They had succeeded in keeping it out of prior bills, but Sen. Joe Manchin, D-W.V., and other members of the West Virginia delegation prevailed in getting it included in the debt limit bill. Debt ceiling agreement gets thumbs up from business groups, jeers from some on political right 2023-05-28T04:00:00Z After declaring this year that he would not negotiate spending cuts in exchange for raising the debt limit, Mr. Biden did exactly that. 14th Amendment Questions Linger Despite Debt Limit Deal 2023-05-31T04:00:00Z Rep. James McGovern, the ranking Democrat on the rules panel, did not clarify if he was ready to support the debt limit deal had Republicans faltered. Freedom Caucus threatens ouster as McCarthy rushes forward with debt-limit vote 2023-05-30T04:00:00Z For months, Biden and his aides had a mantra: There would be no negotiation on the debt limit. Debt ceiling takeaways: Biden’s invite to liberal skeptics to ‘talk to me,’ McCarthy’s balancing act 2023-05-29T04:00:00Z One of the most contentious issues surrounding talks over raising the debt limit has been whether the Biden administration would agree to stricter work requirements for people seeking food stamps and other safety net assistance. Debt Ceiling Deal Includes New Work Requirements for Food Stamps 2023-05-29T04:00:00Z The 99-page bill that would halt the debt limit until January 2025 and impose annual spending caps includes measures to fast-track the approval of new energy projects by putting a shot clock on environmental reviews. Why liberals and climate activists are lashing out over debt limit deal’s energy policies 2023-05-30T04:00:00Z The deal includes spending caps and scales back some of the president’s policy priorities in exchange for suspending the debt limit for two years. 14th Amendment Questions Linger Despite Debt Limit Deal 2023-05-31T04:00:00Z Suspending the debt limit for a period of time is different than setting it at a new fixed level. New Details in Debt Limit Deal: Where $136 Billion in Cuts Will Come From 2023-05-29T04:00:00Z First, the deal would raise the debt limit for two years. What’s in the Debt Deal 2023-05-28T04:00:00Z Anti-poverty advocates praised the additional exemptions but lamented the expansion of work restrictions as well as the decision to tie safety net programs to the need to raise the nation’s debt limit. Debt Ceiling Deal Includes New Work Requirements for Food Stamps 2023-05-29T04:00:00Z Also included in the debt limit bill is the commission of a study on electricity transmission, a key component of Democrats’ push to electrify the energy grid with renewables. Why liberals and climate activists are lashing out over debt limit deal’s energy policies 2023-05-30T04:00:00Z He added, “As long as the debt limit statute remains on the books as is, this game of political football will continue to threaten our members and the country.” 14th Amendment Questions Linger Despite Debt Limit Deal 2023-05-31T04:00:00Z Under the new legislation, the debt limit will be set at whatever level it has reached when the suspension ends. New Details in Debt Limit Deal: Where $136 Billion in Cuts Will Come From 2023-05-29T04:00:00Z This moves any future debt limit fight to after the 2024 election. What’s in the Debt Deal 2023-05-28T04:00:00Z Raising the debt limit, now $31 trillion, would allow Treasury to continue borrowing to pay the nation’s already incurred bills. Crucial days ahead as debt ceiling deal goes for vote and Biden calls lawmakers for support 2023-05-30T04:00:00Z The full text of the debt limit deal proposes two years of spending caps, additional work requirements for food stamps and cuts to I.R.S. funding. Summer Heat 2023-05-30T04:00:00Z "I think it's important to keep in mind the debt limit bill itself does not spend money," he wrote on Twitter. U.S. debt ceiling deal to face its first test in Congress 2023-05-30T04:00:00Z U.S. stock index futures rose on Tuesday as lawmakers tentatively agreed to raise the debt limit to avert a default, while shares of Nvidia led an early rally among chipmakers and AI-related firms. ECB warns of hit to top European banks if funds run into trouble 2023-05-30T04:00:00Z Here’s why the debt limit matters and how the deal could affect you. What’s in the Debt Deal 2023-05-28T04:00:00Z U.S. stock index futures rose on Tuesday as lawmakers tentatively agreed to raise the debt limit to avert a default, while shares of Nvidia led an early rally among chipmakers and AI-related firms. Futures rise on tentative debt ceiling deal 2023-05-30T04:00:00Z Now that concession could prove problematic, with far right lawmakers in revolt over the debt limit deal between Mr. McCarthy and President Biden. Debt Limit Bill Heads to Key Committee in First Test of G.O.P. Support 2023-05-30T04:00:00Z The Emmy-winning show even permeated the discussion around the debt limit in Washington on Sunday when a deal was reached just hours before the finale aired. ‘Succession’ finale: Fans react to end of Emmy-winning hit drama 2023-05-27T04:00:00Z The White House refused initially to engage with McCarthy over the debt ceiling, insisting the Congress must simply do its job, raise the nation’s debt limit and skip the political brinksmanship. Debt ceiling tests McCarthy, as GOP speaker rides breezily through fight of his career 2023-05-27T04:00:00Z McCarthy has tried to avoid a mutiny by involving some of the most conservative members in debt limit talks and putting them in leadership positions. What’s in the Debt Deal 2023-05-28T04:00:00Z Lifting the nation’s debt limit, now at $31 trillion, allows more borrowing to pay bills already incurred. Biden and McCarthy reach a final deal to avoid US default and now must sell it to Congress 2023-05-27T04:00:00Z A third ultraconservative on the panel, Representative Thomas Massie of Kentucky, is considered a potential ally of Mr. Roy and Mr. Norman but has shown receptiveness to the debt limit deal. Debt Limit Bill Heads to Key Committee in First Test of G.O.P. Support 2023-05-30T04:00:00Z Under the new legislation, the debt limit will be set at whatever level it has reached when the suspension ends in 2025. Your Tuesday Briefing 2023-05-30T04:00:00Z Powered by a hard-right flank, McCarthy was determined to extract federal spending cuts to programs many Americans rely on in exchange for the votes in Congress needed to raise the nation’s debt limit. Debt ceiling tests McCarthy, as GOP speaker rides breezily through fight of his career 2023-05-27T04:00:00Z Over the weekend, President Biden and House Speaker Kevin McCarthy announced a deal to increase the government’s debt limit, enabling the nation to avoid a debt default and economic turmoil. Here's what's in Biden-McCarthy's deal to raise the debt limit 2023-05-29T04:00:00Z That’s alongside raising the debt limit for two years, pushing the volatile political issue past the next presidential election. Biden and McCarthy reach a final deal to avoid US default and now must sell it to Congress 2023-05-27T04:00:00Z The agreement would raise the $31.4 trillion debt limit until after the 2024 presidential election, claw back billions in unspent pandemic relief and cut IRS funding by roughly $20 billion over a decade. Ron DeSantis trashes McCarthy-Biden debt limit deal, says it puts U.S. ‘careening toward bankruptcy’ 2023-05-29T04:00:00Z For political reasons, Republicans tend to prefer suspending the debt limit rather than raising it, because it allows them to say they did not technically green-light a higher debt limit. Your Tuesday Briefing 2023-05-30T04:00:00Z Democrats argue the showdown over the debt limit should not be the new normal way of doing the nation’s business. Debt ceiling tests McCarthy, as GOP speaker rides breezily through fight of his career 2023-05-27T04:00:00Z One uncertainty has been whether President Biden and Congress could raise the debt limit in time to avert a federal default and economic chaos. Column: Newsom's budget math doesn't add up 2023-05-29T04:00:00Z A debt limit deal gives the Federal Reserve more room to tighten policy, which could push up U.S. bond yields and strengthen the dollar - not usually a good mix for emerging markets. Morning Bid: Relief rally eyed on US debt ceiling deal 2023-05-28T04:00:00Z Treasury Secretary Janet Yellen on Friday set a deadline for raising the federal debt limit, saying the government would default if Congress does not increase the debt ceiling by June 5. Analysis: Debt deal could boost unloved corners of US stock market 2023-05-28T04:00:00Z SEE ALSO: McCarthy sells debt limit deal as conservatives fume: ‘We finally were able to cut spending’ Pushback from all sides: Biden, McCarthy debt limit trashed by left and right 2023-05-28T04:00:00Z House Republicans are highlighting in their debt limit deal with the White House provisions that would change the country’s decades-old environmental laws by ending bureaucratic logjams that stall energy projects for years. A ‘win for the entire country,’ Republicans tout energy-permit rules in debt limit deal 2023-05-28T04:00:00Z That’s in exchange for raising the debt limit for two years, until after the next election. Selling the debt ceiling plan and making a deal into a law: What’s next? 2023-05-28T04:00:00Z If things look dire at any point, the House could resort to a rarely employed emergency maneuver: A "discharge petition" to bring a "clean" debt limit increase - with no budget provisions attached - to a vote. Explainer: US debt ceiling deal's winding road to passage in Congress 2023-05-28T04:00:00Z Speaker Kevin McCarthy and President Biden struck a tentative deal on Saturday to raise the debt limit in exchange for cutting spending. Biden, McCarthy strike tentative deal to raise debt limit deal 2023-05-27T04:00:00Z Conservative opposition to the debt limit deal has raised questions about whether Mr. McCarthy will be ousted over it. Pushback from all sides: Biden, McCarthy debt limit trashed by left and right 2023-05-28T04:00:00Z Raising the debt limit has historically been no problem. Meet Russ Vought: Mild-mannered mastermind of the GOP's debt-ceiling power play 2023-05-27T04:00:00Z At one point, she discussed her support for President Biden invoking the 14th Amendment to unilaterally raise the debt ceiling so that the debt limit can be abolished. AOC townhall descends into shouting match among constituents 2023-05-27T04:00:00Z Treasury Secretary Janet Yellen on Friday pushed back the projected deadline when the U.S. will default if Congress doesn’t raise the debt limit. Breathing room: Yellen moves default deadline to June 5 2023-05-26T04:00:00Z Mr. McCarthy is set to brief House GOP lawmakers on the package, which extends the federal debt limit past the June 5th deadline and caps spending growth. Biden, McCarthy strike tentative deal to raise debt limit deal 2023-05-27T04:00:00Z House lawmakers left town Thursday, though they could be called back with 24 hours’ notice if the negotiating teams reach an agreement to increase the U.S. government’s $31.4 trillion debt limit. Debt limit deadline won’t stop Biden, GOP lawmakers from enjoying the holiday weekend 2023-05-26T04:00:00Z Most news reports about the debt limit make no mention of him. Meet Russ Vought: Mild-mannered mastermind of the GOP's debt-ceiling power play 2023-05-27T04:00:00Z The debt limit extension could last through 2024, which would mean Congress would not need to address the limit again until after the presidential election. Factbox: What's in the debt ceiling deal Biden, McCarthy are negotiating? 2023-05-26T04:00:00Z The announcement comes as negotiators for President Biden and Mr. McCarthy are rushing to craft a deal to increase the U.S. government’s $31.4 trillion debt limit. Breathing room: Yellen moves default deadline to June 5 2023-05-26T04:00:00Z The Times reported negotiators were closing in on a deal that would raise the debt limit for two years while imposing strict caps on spending besides military or veterans for the same period. Congress close to deal before breaking for holiday, reports say 2023-05-25T04:00:00Z House Republicans left Washington on Thursday without a deal on the debt limit and with a brewing revolt against Speaker Kevin McCarthy because of a rumored compromise with President Biden. McCarthy threatened with GOP rebellion over rumored debt-limit deal with Biden 2023-05-25T04:00:00Z Vought has been pushing the idea of using the debt limit as leverage in order to force cuts to "woke" programs since early in the year. Meet Russ Vought: Mild-mannered mastermind of the GOP's debt-ceiling power play 2023-05-27T04:00:00Z The lawmaker went on to say that Gaetz's comment makes clear the circumstances around the debt limit talks. AOC slams GOP after Gaetz admits debt limit negotiation is “hostage” situation 2023-05-25T04:00:00Z On Wednesday, she began by highlighting comments from Rep. Matt Gaetz, R-Fla., openly saying that Republicans were holding the debt limit “hostage” in talks with the White House. Debt limit talking: Biden mostly quiet in public, while McCarthy keeps making his case 2023-05-25T04:00:00Z The House Freedom Caucus on Thursday threw a wrench in Speaker Kevin McCarthy’s plans to finalize a debt limit deal with President Biden, demanding new provisions in exchange for their votes. 35 Freedom Caucus members demand McCarthy expand debt limit negotiations with Biden 2023-05-25T04:00:00Z Freedom Caucus members said that lifting the debt limit until after the election is a non-starter. McCarthy threatened with GOP rebellion over rumored debt-limit deal with Biden 2023-05-25T04:00:00Z This was not how Team Vought had envisioned the debt limit battle playing out. Meet Russ Vought: Mild-mannered mastermind of the GOP's debt-ceiling power play 2023-05-27T04:00:00Z But a quirk in U.S. law requires Congress to periodically raise the government’s debt limit. Threat of US credit downgrade looms over debt ceiling talks 2023-05-25T04:00:00Z And more than anything else, that may prove a decisive element in forcing an end to the partisan standoff over raising the federal debt limit. Could $25 billion in Social Security payments force a debt-limit deal? 2023-05-25T04:00:00Z “As you navigate the debt limit debate, you are the steward of this unity and will determine whether it continues to strengthen and places a historic stamp on this Congress or evaporates.” 35 Freedom Caucus members demand McCarthy expand debt limit negotiations with Biden 2023-05-25T04:00:00Z The White House fiercely opposes setting up another debt limit showdown next year at the height of the presidential race. McCarthy threatened with GOP rebellion over rumored debt-limit deal with Biden 2023-05-25T04:00:00Z Vought's goal, he said, was to set up a debt limit battle in Congress every few months to force the Biden administration into increasingly painful budget cuts, especially as we get closer to campaign season. Meet Russ Vought: Mild-mannered mastermind of the GOP's debt-ceiling power play 2023-05-27T04:00:00Z But Republicans are refusing to raise the debt limit unless President Joe Biden and Democrats make concessions, including big spending cuts. Threat of US credit downgrade looms over debt ceiling talks 2023-05-25T04:00:00Z So the longer an impasse continues once the debt limit is reached, the bigger the late payments bill might get. Could $25 billion in Social Security payments force a debt-limit deal? 2023-05-25T04:00:00Z The GOP’s debt limit bill cut federal spending by $130 billion for the upcoming fiscal year and limits budget growth to 1% annually over the next decade. 35 Freedom Caucus members demand McCarthy expand debt limit negotiations with Biden 2023-05-25T04:00:00Z Mr. McCarthy’s potential ouster is the threat underlining the Freedom Caucuses’ position on the debt limit. McCarthy threatened with GOP rebellion over rumored debt-limit deal with Biden 2023-05-25T04:00:00Z Sen. Mike Lee pledged on Thursday to delay passage of any debt limit deal struck by House Speaker Kevin McCarthy and President Biden if the spending cuts are not “substantial.” Sen. Mike Lee threatens to delay debt limit deal in Senate unless spending cuts are ‘substantial’ 2023-05-25T04:00:00Z Fitch’s “warning underscores the need for swift bipartisan action by Congress to raise or suspend the debt limit and avoid a manufactured crisis for our economy,” Adams added. Threat of US credit downgrade looms over debt ceiling talks 2023-05-25T04:00:00Z When payments are due, the special Treasuries are liquidated — giving room to the Treasury under the debt limit to sell tradeable bills to the public, which generates cash the department can then distribute to beneficiaries. Could $25 billion in Social Security payments force a debt-limit deal? 2023-05-25T04:00:00Z Some of those provisions have been sidelined in the debt limit negotiations over White House opposition. 35 Freedom Caucus members demand McCarthy expand debt limit negotiations with Biden 2023-05-25T04:00:00Z They want everything from the debt limit bill passed by the House last month plus several new concessions from the White House. McCarthy threatened with GOP rebellion over rumored debt-limit deal with Biden 2023-05-25T04:00:00Z Despite the urgency, Mr. McCarthy has also pledged to allow House lawmakers at least 72 hours to review any debt limit deal before it comes up for a vote. Sen. Mike Lee threatens to delay debt limit deal in Senate unless spending cuts are ‘substantial’ 2023-05-25T04:00:00Z Ratings agency Fitch said on Wednesday it had put the United States' "AAA" credit rating on negative watch, citing increasing political disputes around the country's debt limit. White House, Republicans seek to close US debt-ceiling deal as deadline nears 2023-05-25T04:00:00Z Republicans negotiating the debt limit want to curb government spending. Ron DeSantis and the ‘Scaffle’ Vote 2023-05-25T04:00:00Z A senior member of the House Freedom Caucus told The Washington Times that is the threat underlining the group’s position on the debt limit. 35 Freedom Caucus members demand McCarthy expand debt limit negotiations with Biden 2023-05-25T04:00:00Z Mr. McCarthy has long said that the GOP’s debt limit bill was only an initial offer meant to kickstart negotiations with the White House. McCarthy threatened with GOP rebellion over rumored debt-limit deal with Biden 2023-05-25T04:00:00Z While he alone cannot tank the debt limit, the Utah lawmaker has sufficient power to delay a Senate vote on it past the June 1 deadline. Sen. Mike Lee threatens to delay debt limit deal in Senate unless spending cuts are ‘substantial’ 2023-05-25T04:00:00Z Lawmakers regularly need to raise the self-imposed debt limit to cover the cost of spending and tax cuts they have already approved. White House, Republicans seek to close US debt-ceiling deal as deadline nears 2023-05-25T04:00:00Z Fitch said that the country’s rating could be lowered if the U.S. does not raise or suspend its debt limit by the given date. Fitch puts US on negative credit watch 2023-05-24T04:00:00Z Democrats are starting to acknowledge that even the best possible deal President Biden can strike with House Speaker Kevin McCarthy on the debt limit will present a loss for the party. Democrats acknowledge Biden-McCarthy debt limit deal will likely bow to GOP 2023-05-24T04:00:00Z Lawmakers could be called back to Washington at any time to vote on a debt limit deal. McCarthy threatened with GOP rebellion over rumored debt-limit deal with Biden 2023-05-25T04:00:00Z Mr. Lee is pushing for the final deal to be as close as possible to the debt limit bill passed by GOP lawmakers last month. Sen. Mike Lee threatens to delay debt limit deal in Senate unless spending cuts are ‘substantial’ 2023-05-25T04:00:00Z The US government could run out of money as early as next week if lawmakers in Washington DC fail to reach an agreement to increase the federal debt limit. The U.S. Debt-Ceiling Crisis Could Harm Science for Years to Come 2023-05-24T04:00:00Z One source of concern for policymakers was brinkmanship over the nation’s debt limit, which caps how much money the United States can borrow. Fed Officials Were Split Over June Rate Pause 2023-05-24T04:00:00Z It was a tactic the White House hoped would force the GOP to cave in and pass a clean debt limit hike or a truncated negotiation period would add pressure for Republicans to compromise. Democrats acknowledge Biden-McCarthy debt limit deal will likely bow to GOP 2023-05-24T04:00:00Z They also are not happy that they hear is likely to be excluded from the debt limit bill. McCarthy threatened with GOP rebellion over rumored debt-limit deal with Biden 2023-05-25T04:00:00Z Moody's placed the United States' Aaa rating on review for a possible downgrade in 2011 a few weeks before a debt limit agreement was reached. Change in tone in U.S. debt talks could prompt rating action before default -Moody's 2023-05-24T04:00:00Z House Speaker Kevin McCarthy said Wednesday he was sending his negotiators to the White House and he anticipated a breakthrough on a deal to cut spending and raise the debt limit. McCarthy sends team to White House ‘to finish up’ debt limit deal 2023-05-24T04:00:00Z Many officials said it was “essential that the debt limit be raised in a timely manner” to avoid the risk of severely damaging the economy and rattling financial markets. Fed Officials Were Split Over June Rate Pause 2023-05-24T04:00:00Z Even vulnerable GOP lawmakers representing districts carried by Mr. Biden have balked at the demand for a clean debt limit hike. Democrats acknowledge Biden-McCarthy debt limit deal will likely bow to GOP 2023-05-24T04:00:00Z However, she said she has not been engaging with investors about what will happen if the debt limit is not lifted. Yellen Warns of Missed Payments if Debt Limit Is Not Lifted 2023-05-24T04:00:00Z Congress regularly needs to raise the nation's self-imposed debt limit to cover the cost of spending and tax cuts it has already approved. White House, Republicans plan to convene on US debt ceiling as deadline looms 2023-05-24T04:00:00Z Speaker Kevin McCarthy needs the support of a majority of Republicans and a critical mass of Democrats for a debt limit deal. A Year in Uvalde 2023-05-24T04:00:00Z Fear of a technical default on Treasury bills without a bipartisan agreement in Washington to lift the debt limit by June 1 is causing ever more ructions at the short end of the debt market. Morning Bid: Fears of 6% and US debt jam 2023-05-24T04:00:00Z Mr. Biden’s allies note that the odds of winning a debt limit fight were always difficult. Democrats acknowledge Biden-McCarthy debt limit deal will likely bow to GOP 2023-05-24T04:00:00Z For the United States to regain its previous top rating, according to Mr. Foster, lawmakers would have to significantly alter the debt limit or remove it entirely. Default on U.S. Debt Risks ‘Permanently’ Denting Nation’s Credit Rating 2023-05-24T04:00:00Z Biden spent months saying he would not negotiate on raising the debt limit only to reverse course and begin talks with McCarthy in the last few weeks. White House, Republicans plan to convene on US debt ceiling as deadline looms 2023-05-24T04:00:00Z On Tuesday, CNN published a poll that said that, while a majority of Americans supported raising the debt limit, only 31 percent thought Mr. Biden had the right priorities, and 29 percent thought Republicans did. This Is What ‘Productive’ Looks Like in Washington as Default Deadline Looms 2023-05-24T04:00:00Z The debt limit angst comes as interest rate markets more generally absorb surprisingly buoyant soundings on global business activity and some spiky inflation readouts to boot. Morning Bid: Fears of 6% and US debt jam 2023-05-24T04:00:00Z He is insisting on getting as close as possible to the debt limit bill passed by GOP lawmakers last month. Democrats acknowledge Biden-McCarthy debt limit deal will likely bow to GOP 2023-05-24T04:00:00Z Dragging into a third week, the negotiations over raising the nation’s debt limit were never supposed to arrive at this point. Debt ceiling talks stuck on classic problem: Republicans demand spending cuts and Democrats resist 2023-05-23T04:00:00Z Mr. Gaetz was referring to the bill the House passed last month that would cut government programs by an average of 18 percent over a decade in exchange for raising the debt limit. McCarthy, Bracing for Defections, Eyes a Fraught Path to a Debt Limit Deal 2023-05-23T04:00:00Z Markets have mostly shrugged off the impasse - after all, Congress has acted 78 times to permanently raise, temporarily extend, or revise the definition of the debt limit since 1960. ASIA RBNZ to hike rates, U.S. default ticks closer 2023-05-23T04:00:00Z Members of the House Freedom Caucus and their allies are standing behind Kevin McCarthy, even as they urge the House speaker not to yield in debt limit negotiations with President Biden. Freedom Caucus backs McCarthy even as they demand no compromise in Biden debt negotiations 2023-05-23T04:00:00Z “Republicans remain the only ones in Washington who have actually done anything to lift the debt limit and avoid default.” Democrats acknowledge Biden-McCarthy debt limit deal will likely bow to GOP 2023-05-24T04:00:00Z Both have wanted to raise the debt limit to prevent a economy-shattering federal default. Debt ceiling talks stuck on classic problem: Republicans demand spending cuts and Democrats resist 2023-05-23T04:00:00Z “Virtually all Republicans didn’t want to vote for the debt ceiling increase. But we came together and responsibly increased the debt limit. Everything that was in that bill was necessary.” McCarthy, Bracing for Defections, Eyes a Fraught Path to a Debt Limit Deal 2023-05-23T04:00:00Z House Republicans canceled the drafting of appropriations bills saying Speaker Kevin McCarthy needs flexibility in the debt limit negotiations with President Biden — but the delay also spares the party from pinpointing proposed spending cuts. House GOP dodge specifics on spending cuts in debt-limit haggling 2023-05-23T04:00:00Z Rep. Matt Gaetz, Florida Republican, said there was no truth to the rumors that hardliners would try to oust Mr. McCarthy from the speakership if he delivered a debt limit deal not to their liking. Freedom Caucus backs McCarthy even as they demand no compromise in Biden debt negotiations 2023-05-23T04:00:00Z Given Mr. Biden’s long-held insistence on a clean debt limit hike, the GOP bill has served as an initial offer upon which the negotiators have tried to build compromise. Democrats acknowledge Biden-McCarthy debt limit deal will likely bow to GOP 2023-05-24T04:00:00Z With the pandemic officially over, leftover coronavirus relief money for vaccines, public health initiatives and other programs has become a target as negotiators try to reach a budget deal to raise the nation’s debt limit. How raising the nation’s debt limit could reduce spending of some coronavirus relief funds 2023-05-23T04:00:00Z As one component of a debt limit deal, House Republicans want to reclaim tens of billions of dollars in unspent funds from previously approved Covid-19 relief legislation. Biden Administration Pushes to Save Key Covid Programs in Debt Ceiling Talks 2023-05-23T04:00:00Z The GOP debt limit bill also included the $130 billion immediate cut to bring spending in line with where it was before Congress passed a $1.7 trillion government funding bill in December 2022. House GOP dodge specifics on spending cuts in debt-limit haggling 2023-05-23T04:00:00Z The more than 40-member Freedom Caucus has said it wants the final deal to be as close as possible to the debt limit legislation approved by House Republicans. Freedom Caucus backs McCarthy even as they demand no compromise in Biden debt negotiations 2023-05-23T04:00:00Z Dragging into a second week, the negotiations over raising the nation’s debt limit, now at $31 trillion, were never supposed to arrive at this point — a crisis in the making. Debt ceiling talks grind on, but Republicans say there’s a ‘lack of urgency’ from White House 2023-05-23T04:00:00Z House Republicans voted last month to rescind those funds as part of their debt limit bill, which has served as their starting point for talks with the White House. How raising the nation’s debt limit could reduce spending of some coronavirus relief funds 2023-05-23T04:00:00Z Conservatives from the House Freedom Caucus implored him during a closed-door GOP conference meeting Tuesday morning to “hold the line” on debt limit legislation passed by House Republicans last month. McConnell strikes upbeat tone as Congress heads toward default deadline: ‘Everybody needs to relax’ 2023-05-23T04:00:00Z Mr. Biden and his Democrats immediately attacked the debt limit bill by saying a $130 billion cut could impact every single agency, including reducing veterans’ benefits. House GOP dodge specifics on spending cuts in debt-limit haggling 2023-05-23T04:00:00Z The White House’s refusal to negotiate on the debt limit until earlier this month has also bought Mr. McCarthy goodwill from his right flank. Freedom Caucus backs McCarthy even as they demand no compromise in Biden debt negotiations 2023-05-23T04:00:00Z The communication is similar to what the Treasury Department conveyed during the 2021 debt limit standoff and is part of how it manages its cash reserves. New Report Underscores Increasing Chances of U.S. Default in Early June 2023-05-23T04:00:00Z "As in prior debt limit episodes, Treasury will continue to regularly communicate with all aspects of the federal government on their planned expenditures." US Treasury asks federal agencies for payments clarity as debt ceiling default looms 2023-05-23T04:00:00Z House Speaker Kevin McCarthy is facing pressure from his right flank to not compromise in the debt limit negotiations with President Biden. McCarthy should be ‘saving the country,’ says Freedom Caucus in debt limit fight 2023-05-23T04:00:00Z After the debt limit, could this be Washington’s next big fight? JPMorgan May Face New Questions About Succession 2023-05-22T04:00:00Z But with the June 1 potential deadline looming and Republicans putting their own legislation on the table, the White House launched talks on a budget deal that could accompany an increase in the debt limit. On debt ceiling, Biden, McCarthy to meet Monday as negotiators ‘keep working’ to resolve standoff 2023-05-21T04:00:00Z “To produce an accurate forecast around the debt limit, it’s critical that Treasury have updated information on the magnitude and timing of agency payments,” Lily Adams, a Treasury spokesperson, said. New Report Underscores Increasing Chances of U.S. Default in Early June 2023-05-23T04:00:00Z "To produce an accurate forecast around the debt limit, it’s critical that Treasury have updated information on the magnitude and timing of agency payments," the spokesperson said in an emailed statement. US Treasury asks federal agencies for payments clarity as debt ceiling default looms 2023-05-23T04:00:00Z During a closed-door GOP conference Tuesday, conservatives from the House Freedom Caucus implored Mr. McCarthy to “hold the line” in preference to the debt limit legislation passed by House Republicans last month. McCarthy should be ‘saving the country,’ says Freedom Caucus in debt limit fight 2023-05-23T04:00:00Z Historically, debt limit showdowns go down to the wire. JPMorgan May Face New Questions About Succession 2023-05-22T04:00:00Z Again, I'm concerned that we're even negotiating because at the end of the day, we always raised the debt limit. “We got to rise up, everyone”: Rep. Jamaal Bowman battles the normalization of Trump 2023-05-23T04:00:00Z “As in prior debt limit episodes, Treasury will continue to regularly communicate with all aspects of the federal government on their planned expenditures.” New Report Underscores Increasing Chances of U.S. Default in Early June 2023-05-23T04:00:00Z The department has been using accounting maneuvers known as extraordinary measures to delay a default since the United States technically hit the debt limit in January, but those are expected to be exhausted soon. New Report Underscores Increasing Chances of U.S. Default in Early June 2023-05-23T04:00:00Z Some progressive Democrats have pushed Mr. Biden to cut off negotiations and instead act unilaterally to challenge the debt limit on constitutional grounds. Biden and McCarthy Set to Resume Negotiations on Debt Limit 2023-05-21T04:00:00Z Negotiations faltered over the weekend as the two sides clashed over Republicans’ demands to cut spending in exchange for raising the debt limit. Your Monday Briefing 2023-05-22T04:00:00Z It’s a crucial moment for the Democratic president and the Republican speaker, just 10 days before a looming deadline to raise the debt limit. No agreement yet on debt ceiling, but Biden, McCarthy say they’re optimistic 2023-05-21T04:00:00Z Modi is the only one of the so-called Quad leaders to continue with his Australian visit plans after President Joe Biden pulled out last week to return to Washington to focus on debt limit talks. Indian Prime Minister Narendra Modi, visiting Australia, wants closer bilateral defense ties 2023-05-22T04:00:00Z Still, investors are also focused on negotiations to raise the debt limit of the U.S., the world's biggest oil consumer. Oil prices rise on outlook for higher gasoline demand, tighter supply 2023-05-23T04:00:00Z Treasury mechanism known as the “Slugs window,” which closed on May 2 and will not reopen until the debt limit is increased. Even Flirting With U.S. Default Takes Economic Toll 2023-05-20T04:00:00Z All of this might be moot, however, if Democrats and Republicans in Washington reach agreement on the $31.4 trillion debt limit impasse. Morning Bid: PMIs could knock stocks off highs 2023-05-22T04:00:00Z But with June nearing and Republicans putting their own spending legislation on the table, the White House launched talks on a budget deal that could accompany an increase in the debt limit. No agreement yet on debt ceiling, but Biden, McCarthy say they’re optimistic 2023-05-21T04:00:00Z Republicans have refused to raise the debt limit without spending cuts, forcing Democrats to the negotiating table to avoid a default that could cause a recession and financial crisis. Yellen Warns Again That the U.S. Could Default as Soon as June 1 2023-05-22T04:00:00Z In the past, American political leaders generally managed to step away from the brink and raise the debt limit before it was too late. What it would mean for the global economy if the US defaults on its debt 2023-05-22T04:00:00Z The meeting, which is scheduled for 5:30 p.m. at the White House, comes after negotiators clashed over Republicans’ demands to cut spending in exchange for raising the debt limit. Biden and McCarthy to Meet in Hopes of Reviving Debt Talks 2023-05-22T04:00:00Z House Republicans, newly empowered in the majority this Congress, are refusing to raise the debt limit unless Biden and the Democrats impose federal spending cuts and restrictions on future spending. Debt ceiling struggle explained: Why now and how could it end? 2023-05-22T04:00:00Z Any deal to raise the $31.4 trillion debt limit must pass both chambers of Congress before Biden could sign it into law. Fresh round of debt ceiling talks kick off as US default worries grow 2023-05-22T04:00:00Z The Treasury secretary said over the weekend that a failure to raise the debt limit would force the government to confront difficult choices about how to meet the nation’s financial obligations. Yellen Warns Again That the U.S. Could Default as Soon as June 1 2023-05-22T04:00:00Z Hopes that a deal would be struck sometime over the weekend to raise the $31.4 trillion U.S. debt limit helped Wall Street's main indexes end the last week with gains. Futures flat as debt limit talks to continue, Micron slides 2023-05-22T04:00:00Z Biden would have been the first sitting U.S. president to visit any Pacific Island country, but he ended up canceling to focus on the debt limit talks back at home. U.S. to sign new security pact with Papua New Guinea amid competition with China 2023-05-21T04:00:00Z Supporters of unilateral action say Biden already has the authority to effectively nullify the debt limit if Congress won’t raise it, so that the validity of the country’s debt isn’t questioned. Debt ceiling struggle explained: Why now and how could it end? 2023-05-22T04:00:00Z The White House has studied the issue for months, with some aides concluding that Biden would likely have the authority to declare the debt limit unconstitutional as a last-ditch way to sidestep default. No deal: Federal Workers Union asks U.S. court to intervene 2023-05-21T04:00:00Z The Biden administration has downplayed the idea that it could essentially ignore the debt limit and continue borrowing by invoking the 14th Amendment, which says that the validity of U.S. debt shall not be questioned. Yellen Warns Again That the U.S. Could Default as Soon as June 1 2023-05-22T04:00:00Z House Speaker Kevin McCarthy is to meet Monday with President Biden at the White House in hopes of forging a breakthrough on a deal to cut spending and raise the debt limit. Biden, McCarthy to meet at White House amid deadlock in debt limit talks 2023-05-21T04:00:00Z Mr. Biden told reporters at a G7 meeting in Japan his administration was exploring whether it could invoke the 14th Amendment as debt limit negotiations with House Republicans sour. Biden flirts with 14th Amendment as pressure mounts from right and left in debt talks 2023-05-21T04:00:00Z McCarthy and Republicans are insisting on spending cuts in exchange for raising the debt limit. Debt ceiling struggle explained: Why now and how could it end? 2023-05-22T04:00:00Z The Texas Republican emphasized that the onus is on the president to strike a deal because House Republicans passed their own debt limit increase that includes trillions of dollars in cuts over the next decade. House GOP budget chair says ‘We’ve done our job,’ as debt ceiling talks crumble 2023-05-21T04:00:00Z House must move off their “extreme positions” on the now-stalled talks over raising America’s debt limit and that there would be no agreement to avert a catastrophic default only on their terms. Biden: GOP must move off ‘extreme’ positions, no debt limit deal solely on its ‘partisan terms’ 2023-05-21T04:00:00Z The breakdown in talks comes as Republican and Democratic leaders are under pressure to deliver a debt limit deal that can satisfy the right and left flanks of their respective parties. Biden floats using 14th Amendment to raise debt limit amid impasse with GOP 2023-05-21T04:00:00Z Some legal scholars say the 14th Amendment is broader in scope and gives the president authority to scrap the debt limit altogether and keep paying the nation’s bills without Congress setting a debt ceiling. Biden flirts with 14th Amendment as pressure mounts from right and left in debt talks 2023-05-21T04:00:00Z In Congress, meanwhile, House Democratic leader Hakeem Jeffries has launched a process that would “discharge” the issue to the House floor and force a vote on raising the debt limit. Debt ceiling struggle explained: Why now and how could it end? 2023-05-22T04:00:00Z And Biden sought to reassure world leaders that the U.S. would not default because of the debt limit standoff that has cast a large shadow over his trip. G7 ends with Ukraine in focus as Zelenskyy meets world leaders and Russia claims disputed gains 2023-05-21T04:00:00Z PHOTOS: Biden: GOP must move off 'extreme' positions, no debt limit deal solely on its 'partisan terms' Biden: GOP must move off ‘extreme’ positions, no debt limit deal solely on its ‘partisan terms’ 2023-05-21T04:00:00Z Biden will be headed back to Washington on Sunday after cutting his trip to Asia short to focus on the debt limit talks. Biden, House Speaker McCarthy could speak Sunday on debt limit 2023-05-21T04:00:00Z President Biden remains confident his administration can strike a deal with Republicans over raising the debt limit. Biden still optimistic debt deal can get done 2023-05-20T04:00:00Z He’s been spending time instead by a video monitor in a room next to his hotel suite, where aides in Washington have been keeping him apprised of the back and forth of debt limit talks. Biden meeting with leaders at G7 summit while confronting stalemate over U.S. debt limit 2023-05-20T04:00:00Z House Speaker Kevin McCarthy is set to resume negotiations with White House officials over raising the debt limit after talks broke down over spending cuts earlier on Friday. Biden, McCarthy restart debt negotiations after snafu over spending cuts 2023-05-19T04:00:00Z The Treasury Department has warned that unless the debt limit is raised the government will be unable to pay all of its bills after 1 June. US debt ceiling: Republicans hit 'pause' on negotiations for now 2023-05-19T04:00:00Z The breakdown comes as House Republicans are under pressure to deliver a debt limit deal that can unite their disparate conference. ‘Impasse’: Debt talks pause amid failure to make progress 2023-05-19T04:00:00Z Republicans, who control the House by a 222-213 majority, for months had been insisting that Democrats agree to spending cuts in exchange for a deal to raise Congress's self-imposed debt limit. Lead Republican negotiator says US debt-ceiling talks paused-media 2023-05-19T04:00:00Z Newsom, a Democrat, said those investments are in jeopardy if discussions in Washington over whether to raise the debt limit sour. Newsom unveils sweeping plan to speed up California infrastructure projects 2023-05-19T04:00:00Z The pause in negotiations came as Republican and Democratic leaders face increasing pressure to deliver a debt limit deal that can satisfy the right and left flanks of their respective parties. Biden, McCarthy restart debt negotiations after snafu over spending cuts 2023-05-19T04:00:00Z Mr Biden has argued that raising the debt limit and reducing the budget deficit should be two separate issues, but about six in 10 Americans disagree, according to a new Associated Press-NORC poll. US debt ceiling: Republicans hit 'pause' on negotiations for now 2023-05-19T04:00:00Z The White House on Friday said “steady progress” is being made toward lifting the debt limit and avoiding a default. White House sees progress in debt limit talks; Biden directs team to get a bipartisan deal 2023-05-19T04:00:00Z President Joe Biden even as he cut his trip to Asia short to deal with a domestic debt limit fight that threatened to add an economic crisis to world leaders' agendas. G7 leaders reckon with Ukraine, haunted by Hiroshima nuclear legacy 2023-05-18T04:00:00Z The more than 40-member group voted to adopt the legislation as their official position on the debt limit negotiations between Mr. McCarthy and the White House. Freedom Caucus urges McCarthy to not accept watered-down debt limit deal 2023-05-18T04:00:00Z Meanwhile, 11 Democratic senators are urging Mr. Biden to invoke the 14th Amendment and scrap the debt limit altogether. Biden, McCarthy restart debt negotiations after snafu over spending cuts 2023-05-19T04:00:00Z During the meeting with more than two dozen CEOs and executives convened by the Bank Policy Institute, Yellen also discussed the "urgent need" for Congress to address the debt limit, the statement said. Yellen reaffirms strength of US banking system in meeting with bank CEOs 2023-05-18T04:00:00Z For months, the White House said Congress should act to lift the debt limit without conditions attached. White House sees progress in debt limit talks; Biden directs team to get a bipartisan deal 2023-05-19T04:00:00Z Still, the fact that serious negotiations are taking place is a difference from the rhetoric that has defined the debt limit fight for months. Biden, McCarthy quietly negotiate ahead of debt limit deadline after months of partisan rhetoric 2023-05-18T04:00:00Z A senior member of the House Freedom Caucus told the Washington Times that is the threat underlining the group’s position on the debt limit. Freedom Caucus urges McCarthy to not accept watered-down debt limit deal 2023-05-18T04:00:00Z Failure to raise the debt limit could create economic chaos in the U.S. and across the globe. Biden pins reelection bid on a familiar maxim of the elderly: Age brings wisdom 2023-05-18T04:00:00Z With debt principal payments coming due - including more than $100 billion on June 1 - the Treasury would borrow just enough to cover what's due and stay under the debt limit. Explainer: What happens if Washington falls behind on its bills? 2023-05-18T04:00:00Z In April, McCarthy crowed that the House debt limit bill, by repealing clean energy credits, would “end the green giveaways for companies that distort the market and waste taxpayers’ money.” Opinion: Why is the climate on the table in the debt ceiling fight? 2023-05-18T04:00:00Z Mr. Biden once refused to negotiate with Republicans for taking the “debt limit hostage.” Biden, McCarthy quietly negotiate ahead of debt limit deadline after months of partisan rhetoric 2023-05-18T04:00:00Z The Freedom Caucuses’ position was made public as negotiators for Mr. McCarthy and Mr. Biden are haggling over spending cuts and how long the debt limit should be hiked. Freedom Caucus urges McCarthy to not accept watered-down debt limit deal 2023-05-18T04:00:00Z House Speaker Kevin McCarthy said Wednesday he’s confident GOP unity on cutting spending in exchange for raising the debt limit will force President Biden to make concessions. Side deal to fast track energy projects, expand power grid emerges in debt limit wrangling 2023-05-17T04:00:00Z House Republicans have refused to raise the debt limit — a once perfunctory practice that has devolved into a political fight in recent years — unless the White House agrees to budget cuts. Threat of U.S. debt default upends Biden's trip to the Pacific 2023-05-17T04:00:00Z Attention should be paid: The debt limit showdown heating up this week isn’t just a thorny budgetary issue for the green-eyeshade crowd. Opinion: Why is the climate on the table in the debt ceiling fight? 2023-05-18T04:00:00Z There is also division over how long to hike the debt limit, and the length of time that federal spending growth should be capped. Biden, McCarthy quietly negotiate ahead of debt limit deadline after months of partisan rhetoric 2023-05-18T04:00:00Z For a debt limit deal to succeed, Mr. McCarthy said, all work requirements for all programs have to be on the table. McCarthy optimistic House GOP will avert default, cut spending in the showdown with Biden 2023-05-17T04:00:00Z Republicans, eager to speed up permits for oil and gas production, say they will keep trying to shoehorn a bipartisan energy proposal into the must-pass debt limit legislation. Side deal to fast track energy projects, expand power grid emerges in debt limit wrangling 2023-05-17T04:00:00Z The government reached the $31.4 trillion debt limit on Jan. 19, and the Treasury Department has been using a series of accounting maneuvers to keep paying its bills. Biden Says He Is Confident America Will Not Default on Its Debts 2023-05-17T04:00:00Z The inattention to this issue since House Republicans narrowly passed their debt limit bill last month suggests just how inured we’ve become to the Republican Party’s denial of climate change. Opinion: Why is the climate on the table in the debt ceiling fight? 2023-05-18T04:00:00Z Republicans want a one-year extension on the debt limit and at least 10 years of budget caps. Biden, McCarthy quietly negotiate ahead of debt limit deadline after months of partisan rhetoric 2023-05-18T04:00:00Z Mr. McCarthy said he was confident President Biden would make concessions because of that GOP unity in the House and Senate on cutting spending in exchange for raising the $31.4 trillion debt limit. McCarthy optimistic House GOP will avert default, cut spending in the showdown with Biden 2023-05-17T04:00:00Z An increase in the debt limit would not authorize new federal spending; it would only allow for borrowing to pay for what Congress has already approved. Biden ‘confident’ there will be no US debt default 2023-05-17T04:00:00Z Republicans have said they want to cut federal spending before lifting the ceiling, while Mr. Biden has said negotiating over the cuts must not be a requirement for raising the debt limit. Biden Says He Is Confident America Will Not Default on Its Debts 2023-05-17T04:00:00Z Treasury Department said it only expects to be able to pay the government's bills through June 1 without an increase to the $31.4 trillion debt limit. Fed to keep rates untouched this year; risk of U.S. default high - Reuters poll 2023-05-17T04:00:00Z The debate over the debt limit, she told DealBook, is “scarier” than it has been in the past, though she’s still hopeful an agreement will be reached. Washington Confronts the Challenge of Policing A.I. 2023-05-17T04:00:00Z Concerns about the strength of the global economy, rising prices and the debt limit crisis in the U.S. will be high on leaders’ minds. G-7 leaders likely to focus on the war in Ukraine and tensions in Asia at summit in Hiroshima 2023-05-17T04:00:00Z Mr. McCarthy has refused to agree to raise the debt limit without conditions, thus holding a metaphorical gun to the head of the economy until Mr. Biden agrees to spending cuts. The Speaker Gets His Chance to Go Toe-to-Toe With the President 2023-05-17T04:00:00Z Those expectations were dashed Wednesday when Biden canceled the visit to focus on debt limit talks at home. Hopes for historic Pacific visit dashed after President Joe Biden cancels trip to Papua New Guinea 2023-05-17T04:00:00Z Albanese said Wednesday he understands why Biden pulled out of the summit to focus on debt limit talks in Washington since they are crucial to the economy. Australia rules out Quad summit going ahead in Sydney without President Biden 2023-05-16T04:00:00Z Failure to raise the federal debt limit by June 1, when the U.S. Reaction to Biden-McCarthy debt ceiling meeting 2023-05-16T04:00:00Z The White House said the new schedule would allow Mr. Biden time “to ensure Congress takes action” to raise the debt limit by June 1. Debt talks get serious as Biden cuts short foreign trip, limits negotiators 2023-05-16T04:00:00Z “Unfortunately the Democrats wasted four months, saying it had to be a clean debt limit, saying they wouldn’t negotiate,” he said. The Speaker Gets His Chance to Go Toe-to-Toe With the President 2023-05-17T04:00:00Z The back half of the trip is in question due to crucial negotiations in Washington to raise the $31.4 trillion debt limit before an early June deadline. Biden to visit Hiroshima memorial during G7 summit 2023-05-16T04:00:00Z Which raises a lot of questions, including what the debt limit actually is and why the United States has one. What is the debt limit? 2023-05-16T04:00:00Z Expanded work requirements have emerged as a sticking point in the negotiations over cutting spending and hiking the debt limit. Biden, McCarthy debt-limit talks stuck as both sides draw redline on welfare work requirements 2023-05-16T04:00:00Z "The U.S. economy hangs in the balance. The livelihoods of millions of Americans do too. There is no time to waste. Congress should address the debt limit as soon as possible." US economy 'hangs in the balance' as debt limit impasse drag on, Yellen says 2023-05-16T04:00:00Z As events unfolded Tuesday, Senator Mitch McConnell, the Kentucky Republican and minority leader who has engineered past debt limit resolutions, said the new negotiating dynamic could be crucial to an agreement. The Speaker Gets His Chance to Go Toe-to-Toe With the President 2023-05-17T04:00:00Z Mr. McCarthy said on Monday that he wanted to negotiate some of the key provisions of the bill to raise the debt limit that House Republicans passed last month. Biden and McCarthy Set for More Talks as Debt Limit Deadline Nears 2023-05-16T04:00:00Z President Biden expressed cautious optimism about a debt limit deal before a meeting today with Republican leaders. Your Tuesday Briefing 2023-05-16T04:00:00Z But Biden has insisted Republicans must rule out default and consider budget issues separate from the need to raise the nation’s debt limit. Debt ceiling showdown: Biden and congressional leaders to meet as McCarthy pushes for faster deal 2023-05-15T04:00:00Z Yellen said the 2011 crisis - when lawmakers raised the debt limit shortly before the government had to stop making payments - showed the serious repercussions of not acting sooner. US economy 'hangs in the balance' as debt limit impasse drag on, Yellen says 2023-05-16T04:00:00Z Speaker Kevin McCarthy got what he wanted out of Tuesday’s debt limit talks at the White House — the chance to go one-on-one against President Biden. The Speaker Gets His Chance to Go Toe-to-Toe With the President 2023-05-17T04:00:00Z The government hit the $31.4 trillion debt limit on Jan. 19, and the Treasury Department has been using accounting maneuvers to keep paying its bills. Biden and McCarthy Set for More Talks as Debt Limit Deadline Nears 2023-05-16T04:00:00Z Mr. McCarthy said the staff-level talks would continue and hoped the White House would become more “willing partners” as the debt limit deadline of June 1 looms. McCarthy calls for White House to be ‘willing partners’ ahead of debt limit meeting with Biden 2023-05-15T04:00:00Z The debt limit must be lifted, as has been done countless times before, to allow continued borrowing to pay already accrued bills. Debt ceiling showdown: Biden and congressional leaders to meet as McCarthy pushes for faster deal 2023-05-15T04:00:00Z Yellen has repeatedly warned that failure by Congress to raise the $31.4 trillion federal debt limit could spark a "constitutional crisis" and would unleash an "economic and financial catastrophe" for the U.S. and global economies. US Treasury reinforces June 1 default date without debt ceiling hike 2023-05-15T04:00:00Z So it’s timely to take a look at the latest legal commentary about the debt limit — specifically, whether it’s even constitutional, and if not, whether Biden should simply ignore it. Column: Here's why the debt ceiling is not only stupid — it's unconstitutional 2023-05-15T04:00:00Z Mr. Biden is also scheduled to leave for Japan on Wednesday to attend the Group of 7 meeting, heightening the sense of urgency to make progress on the debt limit. Biden and McCarthy Set for More Talks as Debt Limit Deadline Nears 2023-05-16T04:00:00Z Treasury Secretary Janet Yellen has warned that Congress must pass a debt limit increase by June 1 or risk a default on the government’s obligations. McCarthy calls for White House to be ‘willing partners’ ahead of debt limit meeting with Biden 2023-05-15T04:00:00Z They want Republicans to drop certain provisions in the debt limit bill that passed the House last month. Biden Expresses Optimism Over Debt Limit Deal, but an Agreement Remains Elusive 2023-05-15T04:00:00Z President Joe Biden is meeting Congressional leaders on Tuesday to try to hash out a compromise to raise the debt limit and avoid a catastrophic default. Morning Bid: Debt ceiling jitters, Turkey vote, Soros ditches Tesla 2023-05-15T04:00:00Z Even a short breach of the debt limit could lead to a spike in interest rates, a plunge in equity prices, and covenant breaches in loan documentation and leverage agreements. How Wall Street is preparing for possible US debt default 2023-05-15T04:00:00Z Biden insists the debt limit and budget talks are separate, but as Vox's Andrew Prokop noted Wednesday, the president is "negotiating before the GOP has released" the debt ceiling hostage. Behind Biden's troubling "spending cut" warning 2023-05-15T04:00:00Z Friday’s episode of “The Daily” is on the U.S. debt limit. Your Monday Briefing 2023-05-15T04:00:00Z President Joe Biden expects to meet with Congressional leaders on Tuesday for talks to raise the nation's debt limit and avoid a catastrophic default. Asian shares braced for China data, Fed speakers 2023-05-15T04:00:00Z President Joe Biden said on Sunday he expects to meet with congressional leaders on Tuesday for talks on a plan to raise the nation's debt limit and avoid a catastrophic default. Belarus PM replaces Lukashenko at ceremony, sparks speculation 2023-05-15T04:00:00Z Biden has called on lawmakers to lift the debt limit without preconditions, warning that the nation’s borrowing authority should not be used to impose deep spending cuts and other conservative policy demands. Biden, congressional leaders likely to meet Tuesday for talks on raising the debt limit 2023-05-14T04:00:00Z President Joe Biden said he expects to meet with Congressional leaders Tuesday for talks on a plan to raise the nation's debt limit and avoid a catastrophic default. Biden expects to meet lawmakers Tuesday for debt talks 2023-05-14T04:00:00Z The most recent edition of “The Daily” is on the U.S. debt limit. Your Monday Briefing: Thailand Votes for Change 2023-05-14T04:00:00Z House Foreign Affairs Committee Chairman Michael McCaul says failing to raise the debt limit and defaulting would be a gift to one of America’s most prominent foreign adversaries: China. House Foreign Affairs chair warns default would be gift for China 2023-05-14T04:00:00Z But as he prepares to head west, Biden finds himself in a stalemate with Republican lawmakers over raising America’s debt limit. Ambitious agenda for Biden on upcoming three-nation Indo-Pacific trip as debt default looms at home 2023-05-14T04:00:00Z Breaching the debt limit would be unprecedented and could trigger a financial catastrophe. Biden, congressional leaders likely to meet Tuesday for talks on raising the debt limit 2023-05-14T04:00:00Z In the US, President Biden is facing pressure to cut from Congressional Republicans threatening debt limit legislation. Is the UK too late to beat the US in the global trade war? 2023-05-13T04:00:00Z Economists warn that the country faces a debilitating recession - and worse - if Biden and lawmakers can’t agree on a path to raising the debt limit. Biden’s reelection pitch that he can govern well faces daunting challenges with debt, border, more 2023-05-13T04:00:00Z Economists warn that the country faces a debilitating recession — and worse — if Biden and lawmakers can’t agree on a path to raising the debt limit. Biden’s reelection pitch that he can govern well faces daunting challenges with debt, border, more 2023-05-13T04:00:00Z To that end, top administration officials have said the looming debt limit crisis is a troubling sign. Ambitious agenda for Biden on upcoming three-nation Indo-Pacific trip as debt default looms at home 2023-05-14T04:00:00Z “We absolutely must raise the debt limit as soon as possible – without drama and without any threat of default,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. Shrinking tax revenue complicates debt limit talks; Biden says ‘we’re not there yet’ 2023-05-13T04:00:00Z As McCarthy’s House Republicans now demand budget reductions in exchange for raising the debt limit, they have a harder time saying what government programs and services, in fact, they plan to cut. Debt ceiling standoff shows how era of pandemic spending is giving way to focus on stemming deficits 2023-05-13T04:00:00Z While the politics of the debt limit have intensified, the nation’s debt is nothing new. Debt ceiling talks push Washington toward new era of deficit cuts 2023-05-12T04:00:00Z Biden said Saturday it’s “hard to tell” how staff-level talks to avert a crisis on the debt limit will shake out. Biden’s reelection pitch that he can govern well faces daunting challenges with debt, border, more 2023-05-13T04:00:00Z Last week, she told lawmakers that Treasury could run out of money to pay all the government's bills as early as June 1 - and likely in early June - unless Congress raised the debt limit. Yellen hopeful of a solution to 'more difficult' debt ceiling showdown 2023-05-13T04:00:00Z House Republicans have long demanded spending cuts in exchange for raising the debt limit. Shrinking tax revenue complicates debt limit talks; Biden says ‘we’re not there yet’ 2023-05-13T04:00:00Z He accused the White House of “trying to fight a public relations” battle on the debt limit, even though Republicans for months have also been waging one of their own. Garret Graves, Republicans’ ‘Assistant Coach,’ Sees Hope in Debt Limit Talks 2023-05-12T04:00:00Z To be sure, as McCarthy’s House Republicans now demand budget reductions in exchange for raising the debt limit, they have a harder time saying what government programs and services, in fact, they plan to cut. Debt ceiling talks push Washington toward new era of deficit cuts 2023-05-12T04:00:00Z She also said she remained optimistic that the debt limit problem would be resolved. Debt ceiling worries deepen as early June U.S. default reinforced 2023-05-12T04:00:00Z Negotiations between White House officials and the staffs of congressional Republicans and Democrats are continuing, but a Friday debt limit meeting between President Joe Biden and top lawmakers was postponed until next week. CBO sees US default in first half of June without debt ceiling hike 2023-05-12T04:00:00Z The debt limit proposal that House Republicans passed last month sought to claw back at least $200 billion from the bill’s green energy tax credits. Shrinking tax revenue complicates debt limit talks; Biden says ‘we’re not there yet’ 2023-05-13T04:00:00Z Mr. Biden says he won’t bargain with Republicans over raising the debt limit, and his aides reject their assertion that the current path of the debt poses a significant threat to economic growth. Garret Graves, Republicans’ ‘Assistant Coach,’ Sees Hope in Debt Limit Talks 2023-05-12T04:00:00Z President Biden and the four top congressional leaders, including Speaker Kevin McCarthy, were originally scheduled to meet again on Friday to discuss the debt limit after an initial face-to-face session on Tuesday produced no agreement. U.S. Faces ‘Significant Risk’ of Running Out of Cash in June, C.B.O. Warns 2023-05-12T04:00:00Z Congress ought to have their paychecks withheld until the debt limit problem is resolved. Debt ceiling worries deepen as early June U.S. default reinforced 2023-05-12T04:00:00Z Biden has insisted that Congress needs to just raise or waive the debt limit, authorizing spending that was already approved by lawmakers. The debt ceiling crisis may look like a rerun, but it could end differently this time 2023-05-12T04:00:00Z Chamber of Commerce issued a memo on Friday pinpointing “three likely areas of agreement” that could accompany an increase in the debt limit. Shrinking tax revenue complicates debt limit talks; Biden says ‘we’re not there yet’ 2023-05-13T04:00:00Z For many fiscally conservative Republicans, some of whom reflexively resist raising the debt limit, passing your bill was likely as far as they are willing to go. Garret Graves, Republicans’ ‘Assistant Coach,’ Sees Hope in Debt Limit Talks 2023-05-12T04:00:00Z Mr. McCarthy has insisted on deep spending cuts and a rollback of Mr. Biden’s clean energy agenda as a prerequisite to raising the debt limit. U.S. Faces ‘Significant Risk’ of Running Out of Cash in June, C.B.O. Warns 2023-05-12T04:00:00Z Note to the speaker: You didn’t lift the debt limit, not without Senate approval and Biden’s signature, and you won’t get either of those for this bill. Opinion: Kevin McCarthy's doomed debt ceiling deal 2023-05-12T04:00:00Z The reason they haven’t yet may be that markets and others have seen the political drama over the debt limit multiple times in the past with always pretty much the same ending. The debt ceiling crisis may look like a rerun, but it could end differently this time 2023-05-12T04:00:00Z They say the debt limit should be increased regardless of any agreement. Shrinking tax revenue complicates debt limit talks; Biden says ‘we’re not there yet’ 2023-05-13T04:00:00Z She reiterated her view that failure by Congress to raise the $31.4 trillion debt limit would result in economic and financial catastrophe. Yellen: Still some uncertainty about when Treasury will run out of cash 2023-05-12T04:00:00Z President Joe Biden and top lawmakers in Congress have about three weeks to strike a deal over raising the $31.4 trillion U.S. debt limit, which has sharply increased volatility in bond markets. U.S. Treasury yields to rise amid debt ceiling standoff: Reuters poll 2023-05-12T04:00:00Z When Trump was president, Republicans joined Democrats three times to hike the debt limit without drama. Opinion: Kevin McCarthy's doomed debt ceiling deal 2023-05-12T04:00:00Z The president and the speaker, as well as other congressional leaders, met Tuesday to discuss the debt limit standoff. White House postpones debt limit meeting with McCarthy 2023-05-11T04:00:00Z President Biden and top congressional leaders agreed to postpone their next round of debt limit talks, which had been scheduled for Friday, until next week, a White House spokesman said on Thursday. Meeting Between Biden and Republicans Delayed as Both Sides Work Toward Debt Limit Deal 2023-05-11T04:00:00Z But the former president, who had signed bills to raise the debt limit during his own presidency, said a debt default this time would be worth it. Debt limit fight: Trump tells GOP ‘do a default’ if needed, but talks with Biden in full swing 2023-05-11T04:00:00Z Default, they argue, is therefore unconstitutional and Biden would have a duty to effectively nullify the debt limit if Congress won’t raise it, so that the validity of the country’s debt isn’t questioned. Why Biden doesn’t just use the 14th Amendment to address the debt limit crisis — What to know 2023-05-11T04:00:00Z House Speaker Kevin McCarthy reported no progress after negotiating at the White House with President Biden over an increase in the debt limit to pay the nation’s bills. Opinion: Kevin McCarthy's doomed debt ceiling deal 2023-05-12T04:00:00Z Congress faces a June 1 deadline to hike the $31.4 trillion debt limit or face default and a potential economic meltdown. White House postpones debt limit meeting with McCarthy 2023-05-11T04:00:00Z That bank's so-called "war room" will probably start daily meetings on May 21, then ramp up to three times a day if the standoff over the debt limit drags on, he said. JPMorgan CEO Dimon says bank is convening a 'war room' on debt ceiling 2023-05-11T04:00:00Z Washington is staring down a June 1 deadline to raise the debt limit to allow continued borrowing to cover already accrued bills or risk the nation’s first modern-day debt default. Debt limit fight: Trump tells GOP ‘do a default’ if needed, but talks with Biden in full swing 2023-05-11T04:00:00Z During past debt limit showdowns, including talks in 2011 between then-President Barack Obama and congressional Republicans, White House and Department of Justice lawyers also flirted with using the 14th Amendment as an emergency solution. Why Biden doesn’t just use the 14th Amendment to address the debt limit crisis — What to know 2023-05-11T04:00:00Z On top of that, it would increase the debt limit only into next year, setting up the next showdown amid the presidential campaign — what could go wrong? Opinion: Kevin McCarthy's doomed debt ceiling deal 2023-05-12T04:00:00Z The strategy would effectively be a constitutional challenge to the debt limit. Yellen Calls Invoking 14th Amendment to Raise Debt Limit ‘Legally Questionable’ 2023-05-11T04:00:00Z Treasury Secretary Janet Yellen urged Congress to raise the federal debt limit and warned that default could have severe repercussions on the global economy and risked undermining U.S. global economic leadership. Futures edge higher on inflation cheer, Disney slides 2023-05-11T04:00:00Z Treasury Secretary Janet Yellen on Thursday urged Congress to raise the $31.4 trillion federal debt limit and avert an unprecedented default that would trigger a global economic downturn and risk undermining U.S. global economic leadership. Yellen warns US default would threaten global economy, undermine US leadership 2023-05-11T04:00:00Z They were deeply skeptical that it was a viable alternative to Congress raising the debt limit, and it was never invoked. Why Biden doesn’t just use the 14th Amendment to address the debt limit crisis — What to know 2023-05-11T04:00:00Z Some already have said so, all but ensuring that the speaker can’t pass a debt limit hike that actually will become law and not just a political statement. Opinion: Kevin McCarthy's doomed debt ceiling deal 2023-05-12T04:00:00Z As she prepared to meet with her international counterparts, Ms. Yellen warned that failing to lift the debt limit would have dire consequences for the United States and the world economy. Yellen Calls Invoking 14th Amendment to Raise Debt Limit ‘Legally Questionable’ 2023-05-11T04:00:00Z Santos also voted last month for the House GOP bill that ties a debt limit extension to an estimated $4.8 trillion in deficit reduction over 10 years. Expel George Santos? GOP leaders aren’t ready to take that step 2023-05-10T04:00:00Z “I will underscore the importance of Congress acting to resolve the debt limit to maintain America’s economic leadership and protect the global economy,” Yellen said in a tweet Thursday. G7 finance ministers tackle global economic challenges as Yellen seeks to reassure on debt standoff 2023-05-10T04:00:00Z The debt limit was raised three times without a fight during Trump's four years as president, a period when the national debt also exploded because of his tax cuts. Trump plays down consequences of a US default: 'Could be maybe nothing' 2023-05-11T04:00:00Z Neither he nor Democrats in Congress have been clear enough that they are willing to negotiate over reducing annual deficits, but separate from the debt limit. Opinion: Kevin McCarthy's doomed debt ceiling deal 2023-05-12T04:00:00Z Democrats are clear, however, that any budget cuts should take place outside of raising the debt limit. Democrats open to slashing spending, but refuse to clarify what should be cut in budget talks 2023-05-10T04:00:00Z "I hope, one day, we get rid of it," he said, restating a call to scrap the debt limit permanently. JPMorgan's Dimon says debt ceiling standoff could cause panic -report 2023-05-10T04:00:00Z President Joe Biden said Wednesday that he and congressional leaders had a “productive” meeting Tuesday on trying to raise the nation’s debt limit. G7 finance ministers tackle global economic challenges as Yellen seeks to reassure on debt standoff 2023-05-10T04:00:00Z And as vice president, Mr. Biden tied the debt limit and budget issues in 2011, when he was negotiating for the Obama administration. How Past Debt Limit Crises Shaped Biden’s No-Negotiation Stance 2023-05-10T04:00:00Z Talk about irony: McCarthy sold the debt limit bill by persuading holdouts that it would give him leverage in negotiations with Democrats, by telegraphing Republican unity behind huge spending cuts. Opinion: Kevin McCarthy's doomed debt ceiling deal 2023-05-12T04:00:00Z Still, some Democrats are also opposed to the idea of capping future spending growth — which Republicans say is a red line for any spending and debt limit deal. Democrats open to slashing spending, but refuse to clarify what should be cut in budget talks 2023-05-10T04:00:00Z Republicans want spending cuts tied to lifting the debt limit, and Democrats insist on a “clean” bill with budget discussions to follow. Is Tucker Carlson Too Hot for Twitter to Handle? 2023-05-10T04:00:00Z Treasury's debt operations for the past 25 years warned on Tuesday they were "deeply concerned" about the debt limit impasse, which has markets worried about a U.S. default on payment obligations. US debt ceiling standoff talks look at COVID clawbacks, energy permits 2023-05-10T04:00:00Z The last time a divided government threatened to take debt limit negotiations to the brink, Twitter was still nascent, and the idea of a President Donald J. Trump was little more than a sideshow. How Past Debt Limit Crises Shaped Biden’s No-Negotiation Stance 2023-05-10T04:00:00Z That’s what makes these debt limit negotiations more fraught than any in memory. Opinion: Kevin McCarthy's doomed debt ceiling deal 2023-05-12T04:00:00Z While Democrats say the negotiations are separate from the debt ceiling, Republicans say an agreement on spending levels would likely open the door to raising the debt limit. Democrats open to slashing spending, but refuse to clarify what should be cut in budget talks 2023-05-10T04:00:00Z “Nobody wants to see us default. Nobody wants to see us not raise the debt limit. But they also don’t want to see us continue to spend money that we don’t have,” Lawler said. Biden ramps up pressure on House GOP in debt limit battle 2023-05-10T04:00:00Z The president acknowledged that he is considering what would effectively be a constitutional challenge to the very existence of the debt limit. How Might the Government Avoid Default? Biden Offers Clues. 2023-05-10T04:00:00Z Republicans argue that, rather than taking the debt limit hostage, they are responding to Democrats who have long been blind to the ballooning interest costs that accompany the nation’s debt. How Past Debt Limit Crises Shaped Biden’s No-Negotiation Stance 2023-05-10T04:00:00Z As for Biden’s stance of “no negotiations over the debt limit” — he’s right in principle. Opinion: Kevin McCarthy's doomed debt ceiling deal 2023-05-12T04:00:00Z These include the prospect of an unprecedented U.S. default that could come within weeks if Congress does not raise the country's $31.4 trillion debt limit. Analysis: Options investors guard against U.S. stock tumble, despite buoyant markets 2023-05-10T04:00:00Z Mr. Biden suggested he might miss the Group of 7 leaders meeting in Japan next week in order to resolve the debt limit. Here’s the latest on the debt ceiling. 2023-05-09T04:00:00Z Until Mr. Biden expressed openness to clawing back some coronavirus spending, however, it was unclear whether any urgent fiscal talks could coexist with his insistence that he will not bargain over the debt limit. How Might the Government Avoid Default? Biden Offers Clues. 2023-05-10T04:00:00Z But Mr. Biden’s aides also expect him to trumpet the political stakes for Republicans over the next few weeks should they refuse to budget on the debt limit. How Past Debt Limit Crises Shaped Biden’s No-Negotiation Stance 2023-05-10T04:00:00Z Treasury's debt operations for the past 25 years warned on Tuesday they are "deeply concerned" about the debt limit impasse that has markets worried about a U.S. default on payment obligations. Treasury debt advisors warn of 'seismic' impact from U.S. debt payment delays 2023-05-09T04:00:00Z Mr. Biden said that House Republicans were trying to take the debt limit hostage to force through spending cuts that would hurt average Americans. Biden questions need to cut spending, citing deficit reduction over first term 2023-05-09T04:00:00Z That is consistent with what the White House has publicly said: Mr. Biden would not tie any cuts to raising the debt limit. Here’s the latest on the debt ceiling. 2023-05-09T04:00:00Z It includes a large group of spending hawks who have pushed for confrontation over the debt limit. How Might the Government Avoid Default? Biden Offers Clues. 2023-05-10T04:00:00Z House Republicans have refused to raise the $31.4-trillion debt limit unless it’s paired with discretionary spending cuts. Kevin McCarthy, facing his biggest test yet, sees no movement on debt limit deal 2023-05-09T04:00:00Z Senate Majority Leader Charles E. Schumer said those negotiations would be separate from raising the debt limit. McCarthy, Biden fail to resolve impasse on debt limit but agree to talk budget cuts 2023-05-09T04:00:00Z The comments came shortly after Mr. Biden met with Congressional leaders at the White House to discuss the debt limit. Biden questions need to cut spending, citing deficit reduction over first term 2023-05-09T04:00:00Z But lifting the debt limit does not actually authorize any new spending — in fact, it simply allows the United States to spend money on programs that have already been authorized by Congress. What is the debt ceiling? 2023-05-09T04:00:00Z “We have passed a bill that raised the debt limit. Now, I haven’t seen that in the Senate. So I don’t know.” How Might the Government Avoid Default? Biden Offers Clues. 2023-05-10T04:00:00Z The pivotal meeting also marked the biggest test yet for McCarthy, who needs to balance the urgency of raising the debt limit with satisfying far-right conservatives who could end his speakership. Kevin McCarthy, facing his biggest test yet, sees no movement on debt limit deal 2023-05-09T04:00:00Z |
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