Latest National debt News
Yellen says Treasury will use 'extraordinary measures' on Jan. 21 to prevent hitting debt ceiling
WASHINGTON (AP) — In one of her last acts as Treasury Secretary, Janet Yellen said her agency will start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, on January 21 in a letter sent to congressional leaders...
CBO projects US debt to grow $23.9 trillion in 10 years, not including costs of extending tax cuts
WASHINGTON (AP) — The national debt is slated to rise by $23.9 trillion over the next decade, a sum that does not include trillions of dollars in additional tax cuts being championed by President-elect Donald Trump. The nonpartisan Congressional Budget Office released its 10-year...
Treasury nominee calls for stronger Russia sanctions and Fed independence at confirmation panel
WASHINGTON (AP) — U.S. Treasury nominee Scott Bessent on Thursday faced sharp questions from both Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the future of an IRS tax filing system that Republicans have called to be cut. And in turn, Bessent...
Trump endorses Mike Johnson to stay on as House Speaker despite government funding turmoil
WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump on Monday endorsed House Speaker Mike Johnson, providing crucial backing for the Louisiana Republican as he prepares for what is expected to be another contentious speakership race this week. Trump said in a post on his...
Janet Yellen tells Congress US could hit debt limit in mid-January
WASHINGTON (AP) — Treasury Secretary Janet Yellen said her agency will need to start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, as early as January 14, in a letter sent to congressional leaders Friday...
The new right gathers to celebrate Trump and the splintering of the Republican Party
PHOENIX (AP) — As Washington heaved over the possibility of a partial government shutdown, leading far-right figures gathered with thousands of Donald Trump’s most ardent supporters and, for the most part, gloried in splintering the president-elect’s party. Speakers and...
What Trump's decision to wade into spending fight tells us about the next 4 years
WASHINGTON (AP) — After days of threats and demands, Donald Trump had little to show for it once lawmakers passed a budget deal in the early hours of Saturday, narrowly averting a pre-Christmas government shutdown. The president-elect successfully pushed House Republicans to...
Shutdown saga exposes new fault lines for Speaker Johnson and tests his grip on the gavel
WASHINGTON (AP) — One of the most turbulent sessions of Congress in the modern era is about to make way for the next one. Midnight passage of the government shutdown package put in sharp focus the political fault lines emerging in Washington, as President-elect Donald Trump returns...
Biden signs bill that averts a government shutdown and brings a close to days of Washington upheaval
WASHINGTON (AP) — President Joe Biden signed a bill into law Saturday that averts a government shutdown, bringing a final close to days of upheaval after Congress approved a temporary funding plan just past the deadline and refused President-elect Donald Trump’s core debt demands in the...
Government shutdown is averted just after deadline as Congress rejects Trump's debt limit demands
WASHINGTON (AP) — Facing a government shutdown deadline, the Senate rushed through final passage early Saturday of a bipartisan plan that would temporarily fund federal operations and disaster aid, dropping President-elect Donald Trump's demands for a debt limit increase into the new year. ...
