Lawmakers on Capitol Hill have less than a month to avert an unprecedented economic disaster and increase how much money the federal government can …
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Understanding the Debt Ceiling Crisis, and What Happens Next
The debt ceiling is the max amount of money the U.S. government can borrow to pay its bills. To fund Social Security and Medicare benefits, service the interest on the national debt, and pay military salaries (plus other payments), the debt ceiling must go up. A new deal between President Biden and House Speaker McCarthy would raise (suspend) the debt ceiling until the beginning of 2025 and, for now, negate the risk of a historic government default. What does this all mean, and what's next?
The federal government is perilously close to being unable to make payments on the country's debt. It is up to Congress to vote to increase the nation's borrowing cap, known as the debt limit. But House Speaker Kevin McCarthy, R-Calif., is in a standoff with President Biden over Republican demands …
Washington CNN — If passed into law, the bipartisan debt ceiling deal will dash any hope borrowers might have that the federal student loan payment pause would be extended for a ninth time. The Biden administration has repeatedly said the pandemic pause on federal student loan payments would end …
The debt ceiling is the limit on how much the United States can borrow to pay its bills. The government actually reached the debt limit in January …
Congress has approved a deal to raise the government's borrowing limit and prevent a potentially catastrophic default on US debt repayments. The agreement passed the Senate on Thursday, a day after it passed the House of Representatives. Once signed into law by President Joe Biden, it will allow the …
What's really happening with the debt ceiling, and what might happen as the deadline approaches? We break down the past, present and future. By now, …
The House passed a bill to suspend the debt ceiling on Wednesday, clearing a major legislative hurdle with just days left before the US is expected to default. The final House vote was 314 to 117, with 149 Republicans and 165 Democrats supporting the measure. In a potentially worrisome sign for the …
Let’s not find out what happens to the economy if the US breaches the debt ceiling. Nobody knows exactly what will happen to the economy if the United States breaches the debt ceiling, though every possible option ranges from mildly bad to total and complete disaster to the tune of trillions of …
