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PublishedMay 22, 2023
What it would mean for the global economy if the U.S. defaults on its debt
A default could shatter the $24 trillion market for Treasury debt, cause financial markets to freeze up and ignite an international crisis.
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PublishedMay 22, 2023
No agreement yet on debt ceiling, but Biden, McCarthy say they’re optimistic after meeting
The contours of an agreement appear within reach, and the negotiations have narrowed on a 2024 budget year cap that would be key to resolving the standoff.
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PublishedMay 19, 2023
Debt limit talks start, stop as Republicans, White House face ‘serious differences’
Top Republican negotiators for House Speaker Kevin McCarthy said after the evening session that they were uncertain on next steps, though it's likely discussions will resume over the weekend.
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PublishedMay 17, 2023
Biden declares ‘America will not default,’ says he’s confident of budget deal with Republicans
Biden and McCarthy tasked a handful of representatives to try and close out a final deal, with negotiations beginning late Tuesday.
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PublishedMay 16, 2023
McCarthy says debt ceiling deal possible this week as Biden cuts short upcoming foreign trip
The president and House Speaker Kevin McCarthy are trying to strike a budget deal before the U.S. Treasury runs out of cash to keep paying the nation's bills, which could occur as soon as June 1.
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PublishedMay 8, 2023
Biden, McCarthy head into showdown as debt limit crisis nears
The president will host the House speaker and other congressional leaders at the White House on Tuesday.
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PublishedMay 4, 2023
Democrats pressure Republicans on debt limit, spending cuts
No one expects the House's bill, which would increase the nation's borrowing authority as well as cut spending, will reach President Biden's desk.
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PublishedMay 3, 2023
Fed raises key rate but hints it may pause amid bank turmoil
The Federal Reserve raised its key interest rate by a quarter-point to the highest level in 16 years.
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PublishedApril 19, 2023
Biden blasts Republicans’ ‘wacko notions’ in debt limit standoff
Wednesday’s split-screen presentations vividly displayed how the president and House Speaker Kevin McCarthy are talking to 2 very different Americas.
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PublishedFebruary 22, 2023
New estimate finds U.S. could face default on debt by early June
A new estimate finds the U.S. could face an unprecedented default on its obligations as soon as early June if Congress does not act to lift the debt limit.
Debt limit
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