As they escalate a debt-limit standoff, House Republicans blame President Biden’s spending bills for an increase in deficits. Voting records show otherwise.
Category: Federal Budget (US)
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Republican Votes Helped Washington Pile Up Debt
The New York Times – Business: -
IRS Decision Not to Tax Certain Payments Carries Fiscal Cost
The New York Times – Business:The Biden administration has opted not to tax state payments to residents, a decision that could add to the nation’s fiscal woes.
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U.S. Could Default on Debt as Early as Summer, New Estimate Says
The New York Times – Business:The Bipartisan Policy Center said the nation could run out of cash this summer or early fall if Congress did not raise the debt limit.
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U.S. on Track to Add $19 Trillion in New Debt Over 10 Years
The New York Times – Business:Congressional Budget Office projections released on Wednesday suggested rising interest rates and bipartisan spending bills are adding to deficits, amid a partisan fight on fiscal policy.
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Can A Trillion Dollar Coin Resolve the Debt Ceiling Crisis?
The New York Times – Business:The latest standoff over raising the nation’s debt ceiling is giving new life to an old theory about how to avoid a default.
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Biden and McCarthy Are Set to Discuss Debt Limit as Both Sides Trade Barbs
The New York Times – Business:The hours leading up to the meeting have highlighted the differences between the White House and the Republicans who now control the House.
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In Debt Limit Fight, Republicans Won’t Say What Spending Cuts They Want
The New York Times – Business:A renewed focus on fiscal restraint in the debt limit standoff with Democrats poses its own political risks.
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Biden Demands Details on Budget Cuts From McCarthy
The New York Times – Business:Ahead of a meeting at the White House on Wednesday, administration officials demanded that Republicans commit to avoiding a default on federal debt.
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Wall Street Is Counting on a Debt Limit Trick That Could Entail Trouble
The New York Times – Business:If the debt limit is breached, investors expect Treasury to put bond payments first. It’d be politically and practically fraught.
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The Week in Business: The Debt Limit and Politics
The New York Times – Business:Microsoft and Alphabet, the parent company of Google, both said they would cut thousands of jobs. And initial estimates of economic growth in the U.S. in the fourth quarter come out Thursday.