DebtLimit

The bipartisan deal to avert a government default this week featured modest cuts to a relatively small corner of the federal budget. As a curb on the growth of the nation’s $31.4 trillion debt load, it was a minor breakthrough, at best.It…

WASHINGTON: The US Senate on Thursday (Jun 1) passed bipartisan legislation backed by President Joe Biden that lifts the government's US$31.4 trillion debt ceiling, averting what would have been a first-ever default. The Senate voted 63-36…

WASHINGTON: The US Senate on Thursday (Jun 1) passed bipartisan legislation backed by President Joe Biden that lifts the government's US$31.4 trillion debt ceiling, averting what would have been a historic, first-ever default. The Senate…

U.S. officials strike a debt-limit deal President Biden and Speaker Kevin McCarthy reached an agreement in principle to lift the debt limit for two years, a breakthrough after a marathon of crisis talks that brought the nation within days…

Funding for the military has emerged as a key sticking point in reaching an agreement to raise the nation’s borrowing limit and prevent a catastrophic default, with Republicans pushing to spare the Defense Department from spending caps and…

WASHINGTON: President Joe Biden and House Speaker Kevin McCarthy will meet in person on Monday as the government races against a looming deadline to raise America's debt limit before federal funds potentially run dry early next month.The…

President Biden and Speaker Kevin McCarthy remain far apart on key issues in discussions over raising the nation’s borrowing limit and avoiding a damaging default, including on caps for federal spending, new work requirements for some…

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As a debt limit crisis loomed in 2011, Vice President Joseph R. Biden Jr. described early negotiations with Republicans as civil, at one point suggesting that the process was about finding out who was willing to trade their side’s bicycle…

The only clue to the gambit was in the title of the otherwise obscure hodgepodge of a bill: “The Breaking the Gridlock Act.”But the 45-page legislation, introduced without fanfare in January by a little-known Democrat, Representative Mark…