Category: National Debt (US)

Yellen Calls Invoking 14th Amendment to Raise Debt Limit ‘Legally Questionable’

The Treasury secretary warned that a default would lead to a “very substantial downturn.”
How Past Debt Limit Crises Shaped Biden’s No-Negotiation Stance

Battles in 2011 and 2013 taught President Biden not to lean on a House speaker who has little room to negotiate and to keep debt ceiling talks separate from the budget.
How Might the Government Avoid Default? Biden Offers Clues.

After making little progress with Republican leaders at the White House on Tuesday, the president previewed two possible endgames to resolve a debt-limit standoff.
How Wall Street Is Preparing for a Debt Ceiling Showdown

Stocks aren’t showing signs of panic about the government’s ability to pay its bills, but there is anxiety creeping into other markets.
The Coin, the Constitution, Premium Bonds: The Debt Limit Workarounds

As Congress hurtles toward a debt limit showdown, ways to work around it are garnering attention.
‘There Are No Good Options’: The U.S. Is Running Out of Money

Treasury is running out of cash, leaving little time to resolve a debt ceiling standoff that could result in default.
Biden and McCarthy to Discuss Debt Limit as a Possible Default Looms

The president will host the House speaker and other congressional leaders at the White House on Tuesday to discuss their impasse over the debt ceiling and spending cuts.
In Debt Limit Talks, Biden and Republicans Start Far Apart

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.
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.
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.
Everything You Need to Know About the Debt Ceiling

Congress controls how much money the United States can borrow. Here’s a look at why that is and what it means.
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.