Latest Government debt News

Inflation, Fed action set stage for higher mortgage rates

Oct. 21, 2021 09:12 AM EDT

LOS ANGELES (AP) — Mortgage rates have hovered near all-time lows for much of this year, even as inflation has increased sharply across much of the economy. That could begin to change in the weeks to come, now that the Federal Reserve has signaled it could announce as...

German central bank chief to step down after 10 years

Oct. 20, 2021 08:29 AM EDT

BERLIN (AP) — The head of Germany's central bank announced Wednesday that he will step down after a decade at the helm, removing a key hawkish voice from the European Central Bank’s governing council. A statement from the Bundesbank said Jens Weidmann will leave...

Crunch time: Biden faces critical next 2 weeks for agenda

Oct. 18, 2021 13:59 PM EDT

WASHINGTON (AP) — President Joe Biden is entering a crucial two weeks for his ambitious agenda, racing to conclude contentious congressional negotiations ahead of both domestic deadlines and a chance to showcase his administration’s accomplishments on a global stage. ...

Biden signs debt limit hike, but December standoff looms

Oct. 14, 2021 20:08 PM EDT

WASHINGTON (AP) — President Joe Biden on Thursday signed into law a bill raising the nation's debt limit until early December, delaying the prospect of an unprecedented federal default that would cause economic disaster. The House passed the $480...

Editorial Roundup: U.S.

Oct. 13, 2021 12:38 PM EDT

Excerpts from recent editorials in the United States and abroad: Oct. 8 The Los Angeles Times on the danger of turning the debt limit into political theater: Congratulations to Congress for avoiding economic catastrophe for...

House sends debt limit hike to Biden, staving off default

Oct. 13, 2021 07:01 AM EDT

WASHINGTON (AP) — The House has approved a short-term increase to the nation's debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting an unprecedented default that would have decimated the economy. The $480...

House sends debt limit hike to Biden, staving off default

Oct. 12, 2021 19:28 PM EDT

WASHINGTON (AP) — Members of the House on Tuesday pushed through a short-term increase to the nation's debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting an unprecedented default that would have decimated the economy. ...

Congress off the rails? Lawmakers barrel toward fall fights

Oct. 11, 2021 10:10 AM EDT

WASHINGTON (AP) — Year-end pileups of crucial legislation and the brinkmanship that goes with them are normal behavior for Congress. This autumn, lawmakers are barreling toward battles that are striking for the risks they pose to both parties. Though few doubt that...

McConnell seizes on debt standoff to undermine Biden agenda

Oct. 09, 2021 15:00 PM EDT

WASHINGTON (AP) — In the frantic bid to avert a default on the nation’s debt, Senate Republican leader Mitch McConnell held a position of unusual power — as the one who orchestrated both the problem and the solution. McConnell is no longer the majority leader, but...

McConnell says he won't help Dems raise debt limit again

Oct. 08, 2021 22:04 PM EDT

WASHINGTON (AP) — Senate Minority Leader Mitch McConnell said Friday he would not again help Democrats extend the government's borrowing authority, raising fresh doubts about how Congress will avert a federal default when a temporary patch expires in December. McConnell...