Category: National Debt (US)

For Biden, Debt Limit Crisis Complicates Trip to Asia

Volatility has become the new norm in Washington as the president heads to Japan, where he will reassure world leaders that the debt ceiling showdown will not upend the global economy.
Debt Ceiling: Yellen Reiterates That U.S. Could Run Out of Cash by June 1

The latest warning to Congress came before another meeting on Tuesday between President Biden and Speaker Kevin McCarthy to resolve the debt ceiling crisis.
U.S. Faces ‘Significant Risk’ of Running Out of Cash in June, C.B.O. Warns

A default would cause financial distress, economic disruptions and rapid increases in borrowing rates, the nonpartisan Congressional Budget Office said.
The Debt Ceiling Impasse Raises the Risks for ‘Risk-Free’ U.S. Bonds

Short-term costs for insuring U.S. bonds are skyrocketing, and the long-term effects of repeated flirtations with debt default are already a burden, our columnist says.
Debt Limit Meeting Between Biden and Republicans Delayed as Both Sides Seek Deal

The decision to delay Friday’s expected meeting to next week was cast as a positive development, one that could allow officials to find agreement before the United States defaults on its debt.
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.