government spending
Democratic report on U.S. debt default predicts disrupted benefits for seniors, veterans
WASHINGTON — Congress’ Joint Economic Committee released a report Thursday detailing the economic repercussions of defaulting on the nation’s debt, adding fuel to the fire as Democrats pressed Republicans to address the nation’s borrowing limit without tying action to spending cuts. The report, from Democratic staff on the bipartisan Joint Economic Committee, says that a […]
Biden administration details potential cuts in education, food aid and more under GOP plan
WASHINGTON — Federal departments and agencies say U.S. House Republicans’ plans to cut federal spending would result in reductions to key programs like food aid, education assistance and wildfire management. The series of letters from across the federal government released Monday detail exactly how plans to cut at least $130 billion in domestic spending during […]
Biden budget asks for 25% tax on billionaires, boosts in domestic and defense spending
WASHINGTON — President Joe Biden said Thursday he’s ready to meet with U.S. House Speaker Kevin McCarthy to hash out federal spending as soon as House Republicans release their budget, a challenging task without a firm deadline. “I’m ready to meet with the speaker anytime, tomorrow if he has his budget,” Biden said during a […]
Economist warns that ‘heightened dysfunction’ in Congress raises risk of debt default
WASHINGTON — Economists on Tuesday urged Congress to address the debt limit quickly, cautioning that simply because U.S. lawmakers have successfully brokered deals before doesn’t mean they will be able to this year. “There is a temptation to brush off the developing debt limit drama, thinking it will end the same way as the others […]
Bipartisan group predicts U.S. debt default as soon as summer, depending on tax receipts
WASHINGTON — A bipartisan think tank expects that the United States will default on its debt in the summer or early fall, if Congress doesn’t take action to address the debt limit before then. The timeline is similar to one the nonpartisan Congressional Budget Office released last week, saying lawmakers have until sometime between July and September […]
Biden, Democrats to U.S. House Republicans: Show us your debt limit plan
WASHINGTON — Democratic leaders huddled with President Joe Biden at the White House on Tuesday, ahead of what will be a tumultuous few months, with lawmakers sharply divided on the debt limit and short on time. “I have no intention of letting the Republicans wreck our economy, nor does anybody around this table,” Biden said […]
A GOP showdown over the debt limit could grip Congress and the nation next year
WASHINGTON — Republicans are eyeing the debt limit and government funding deadlines as a way to force Democrats to the negotiating table for spending cuts, should the GOP regain control of Congress following the midterm elections. Republicans unhappy about government spending could move to shut down the government, a tactic unsuccessful for the GOP in […]
Congress reaches deal on massive spending package with billions for Ukraine
WASHINGTON — Democrats and Republicans forged agreement early Wednesday on a spending package that will fund the government for the next eight months, as well as provide billions in emergency funding for the war in Ukraine. The announcement means Congress should be able to avert a government shutdown when a spending patch expires at midnight […]