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.
Category: National Debt (US)
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U.S. Could Default on Its Debt Between July and September, C.B.O. Says
The nonpartisan budget office also said that if tax receipts fall short of projections, and Congress fails to act on the debt limit, the U.S. could run out of cash before July.
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Biden and McCarthy Are Set to Discuss Debt Limit as Both Sides Trade Barbs
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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Biden Demands Details on Budget Cuts From McCarthy
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
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
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.
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The U.S. Hit Its Debt Limit. What Happens Next?
The Treasury Department has started employing “extraordinary measures,” but the path to raising the debt ceiling is likely to be a long one.
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Months Before a Potential Crisis, Both Parties Kick Off a Fiscal Blame Game
As the Treasury Department begins taking steps to avoid hitting the debt limit, Republicans and Democrats are positioning themselves politically for a drawn-out fight.
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America Set to Hit Its Borrowing Limit Today, Raising Economic Fears
The milestone will not immediately affect markets or growth, but it sets the stage for months of entrenched partisan warfare.