Category: United States Politics and Government

U.S. Default Prospect Hurts Economy in the Meantime

Financial markets are still betting that Congress and the White House will strike a deal. But the uncertainty alone is having consequences.
In a Sharp Reversal, Biden Opens a Path for Ukraine to Get Fighter Jets

The president told allied leaders that he would allow Ukrainian pilots to be trained on American-made F-16s, and is prepared to approve other countries’ transferring the jets to Ukraine.
How the G7 Oil Price Cap Has Helped Choke Revenue to Russia

Group of 7 leaders are prepared to celebrate the results of a novel effort to stabilize global oil markets and punish Moscow.
What Would Happen if the U.S. Defaulted on Its Debt

Investors, executives and economists are preparing contingency plans as they consider the turmoil that would result from a default in the $24 trillion U.S. Treasury market.
When Will the U.S. Run Out of Cash? The Answer Is Complicated.

The federal government is essentially living paycheck to paycheck, making the X-date hard to pin down.
How the G7 Oil Price Cap Has Helped Choke Revenue to Russia

Group of 7 leaders are prepared to celebrate the results of a novel effort to stabilize global oil markets and punish Moscow.
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.
Drug Shortages Near an All-Time High, Leading to Rationing

A worrisome scarcity of cancer drugs has heightened concerns about the troubled generic drug industry. Congress and the White House are seeking ways to address widespread supply problems.
Biden Vetoes Legislation That Would Reinstate Tariffs on Some Solar Panels

President Biden announced a two-year pause on the tariffs last year after importers complained that the penalties would threaten broader adoption of solar energy in the United States.
Biden Team to Counter Tech Espionage Unveils Cases Involving China and Russia

A new division set up by the government to pursue sanctions evasion and technology espionage announced arrests of individuals with ties to foreign governments.
Sam Altman, ChatGPT Creator and OpenAI CEO, Urges Senate for A.I. Regulation

The tech executive and lawmakers agreed that new A.I. systems must be regulated. Just how that would happen is not yet clear.
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.