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Progressives try to persuade Biden to use the 14th Amendment to resolve debt crisis
WASHINGTON — Progressives are pushing hard for President Joe Biden to take the unprecedented step of invoking the 14th Amendment as a way to avoid financial calamity if the White House and House Speaker Kevin McCarthy do not strike a deal on the debt ceiling in the coming days. The lawmakers and legal scholars argue […]
A default on the U.S. debt would be far worse than a government shutdown. Here’s how.
WASHINGTON — A U.S. default on its debt would have a significantly broader impact on federal operations, financial markets and the global economy than recent government shutdowns that have left ordinary Americans largely untouched. While the two have been confused frequently during debate over the debt limit, the federal government has had considerable practice with […]
Biden vows debt ceiling talks will continue while he’s overseas at G7 summit
WASHINGTON — President Joe Biden will remain in “constant contact” with debt ceiling negotiators and promised to update the nation Sunday upon his return from a shortened trip to Asia for the G7 economic summit. Biden delivered brief remarks Wednesday before departing on a scheduled trip to Japan that will no longer include stops in […]
Some movement reported in debt limit talks as Biden cuts short overseas trip
WASHINGTON — President Joe Biden and congressional leaders struggled to find common ground on the debt ceiling during a Tuesday meeting, though lawmakers said afterward there was some progress toward a deal. Biden and U.S. House Speaker Kevin McCarthy will become the two primary negotiators on a bipartisan debt limit bill that could include other […]
U.S. House GOP wants spending cuts — and also $10B in home-state earmarks
WASHINGTON — U.S. House Republicans have requested more than $10 billion in earmarks to be included in next year’s appropriations bills, despite demanding massive spending cuts as a contingent for raising the nation’s debt ceiling. All but a handful of House Republicans barely pushed through a bill that would temporarily raise the U.S. borrowing limit, but with […]
Biden and congressional leaders fail to reach a debt limit deal, but will meet again Friday
WASHINGTON — President Joe Biden and top congressional leaders were unable to reach a bipartisan debt limit agreement during a closed-door meeting this week, leaving the dispute unresolved as the country moves closer to a default predicted as soon as early June. White House staff and aides to the four congressional leaders, however, will meet […]
U.S. default could begin June 8 without agreement, top economist tells Congress
WASHINGTON — Unless Congress can strike a deal, the U.S. Treasury will likely default on the nation’s bills starting June 8, triggering major consequences for the economy, according to Mark Zandi of Moody’s Analytics. The risk assessment organization’s chief economist testified before the U.S. Senate Committee on the Budget Thursday and urged lawmakers to suspend […]
U.S. could default as early as June 1, Yellen warns Congress
WASHINGTON — U.S. Treasury Secretary Janet Yellen warned Monday that the U.S. could default in as soon as one month if Congress does not act to raise the nation’s borrowing limit — a prediction that prompted President Joe Biden to call a meeting with congressional leaders next week. In a letter to lawmakers, Yellen wrote that […]
After revelations of luxury trips, Democrats argue U.S. Supreme Court needs ethics code
WASHINGTON — U.S. Supreme Court justices should follow a strict code of ethics when receiving gifts and travel or doing business with political funders and attorneys, argued Democratic senators Tuesday at a hearing that Chief Justice John Roberts declined to attend. After a spate of investigative articles detailing Justice Clarence Thomas’ luxury travel and real […]
U.S. House GOP pushes through debt ceiling increase coupled with massive spending cuts
WASHINGTON — U.S. House Republicans on Wednesday struggled but whipped just enough votes to pass their plan to temporarily raise the nation’s borrowing limit and also cut spending by slashing key parts of President Joe Biden’s climate and tax law, potentially risking some veterans’ health benefits and imposing more work rules on the nation’s safety […]
Revived push for Equal Rights Amendment blocked by U.S. Senate Republicans
WASHINGTON — The U.S. Senate failed to advance a symbolic measure to enshrine in the Constitution equal protection on the basis of sex, a century after the idea began circulating among lawmakers. Senators on Thursday voted 51-47 to go forward with a bill that would lift Congress’ self-imposed 1982 deadline for three-fourths of states to ratify the […]
U.S. House GOP plan would expand work requirements for food aid for older adults
WASHINGTON — Hundreds of thousands of low-income Americans could face higher barriers to food assistance under the U.S. House Republican plan to cut spending while temporarily lifting the debt limit, advocates say. House Speaker Kevin McCarthy’s Limit, Save, Grow Act proposes returning discretionary spending to fiscal 2022 levels in exchange for raising the nation’s borrowing […]