As the president prepares to meet with Speaker Kevin McCarthy this week, his budget shares little common ground with spending and tax proposals from House Republicans.
Category: National Debt (US)
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With Default Looming, What Can Biden Do?
The president has not wavered in his calls for Republicans to raise the nation’s borrowing limit without condition. Privately, his aides have discussed other paths.
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House Democrats Move to Force a Debt-Limit Increase as Default Date Looms
House Democratic leaders who have been quietly planning a strategy to force a debt ceiling increase to avert default began taking steps on Tuesday to deploy their secret weapon.
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Is the Debt Limit Constitutional? Biden Aides Are Debating It.
As the government heads toward a possible default on its debt as soon as next month, officials are entertaining a legal theory that previous administrations ruled out.
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U.S. Could Run Out of Cash by June 1, Yellen Warns
Janet L. Yellen, the Treasury secretary, called on Congress to raise or suspend the debt limit so the United States could continue paying its bills.
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Trickling Tax Revenue Complicates Debt Limit Talks
The Treasury Department’s ability to delay a default, the so-called X-date, hinges on how fast the money is coming in.
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Biden Faces His First Big Choice on Debt Limit
After Republicans passed a bill that pairs spending cuts and fossil fuel support with raising the nation’s borrowing cap, the president must decide when and how to negotiate
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The Debt Ceiling Debate Is About More Than Debt
Republicans’ opening bid to avert economic catastrophe by raising the nation’s borrowing limit focuses more on energy policy than reducing debt.
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As Possible Debt Limit Crisis Nears, Wall Street Shrugs
Few investors have focused on the possibility that Congress will not raise the nation’s borrowing limit in time to avoid an economically catastrophic default.
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As Possible Debt Limit Crisis Nears, Wall Street Shrugs
Few investors have focused on the possibility that Congress will not raise the nation’s borrowing limit in time to avoid an economically catastrophic default.
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Top Economist Leaves White House, and an Economy Not Yet ‘Normal’
The New York Times – Business:Cecilia Rouse says lingering effects of the coronavirus pandemic continue to haunt the recovery from recession — and drag on Americans’ optimism for the economy.