Latest National debt News

Biden, McCarthy meet face-to-face on debt crisis worries

Feb. 01, 2023 20:44 PM EST

WASHINGTON (AP) — President Joe Biden and House Speaker Kevin McCarthy met face-to-face Wednesday for more than an hour of highly anticipated budget talks — "a good first meeting," the new Republican leader said — but expectations were low for quick progress as GOP lawmakers push for steep...

Biden, McCarthy, once breakfast mates, wrangle over US debt

Jan. 31, 2023 16:51 PM EST

WASHINGTON (AP) — Not so long ago, Joe Biden and Republican leader Kevin McCarthy used to talk things over at breakfast in Biden's vice presidential home at the Naval Observatory. Biden was intent in those days on “keeping up relations with the opposition party,” as he writes...

Editorial Roundup: United States

Jan. 30, 2023 17:34 PM EST

Excerpts from recent editorials in the United States and abroad: Jan. 29 The Washington Post on violent policing No decent citizen could fail to be appalled by the video, released Friday, showing Memphis police officers beating a 29-year-old Black man,...

Treasury to increase borrowing amid debt ceiling standoff

Jan. 30, 2023 16:29 PM EST

WASHINGTON (AP) — The Treasury Department said Monday it plans to increase its borrowing during the first three months of 2023, even as the federal government is bumping up against a $31.4 trillion limit on its legal borrowing authority. The U.S. plans to borrow $932 billion during...

Biden, McCarthy to discuss debt limit in talks on Wednesday

Jan. 29, 2023 15:42 PM EST

WASHINGTON (AP) — House Speaker Kevin McCarthy said Sunday he is looking forward to discussing with President Joe Biden a “reasonable and responsible way that we can lift the debt ceiling ” when the two meet Wednesday for their first sit-down at the White House since McCarthy was elected to...

Lots of sound and fury on US debt, but not a crisis — yet

Jan. 28, 2023 15:59 PM EST

WASHINGTON (AP) — For all the sound and fury about raising the nation's debt limit, most economists say federal borrowing is not at a crisis point ... at least not yet. The national debt is at the core of a dispute about how to raise the government's legal borrowing authority, a...

Biden meets with Democratic leaders as debt showdown looms

Jan. 24, 2023 19:23 PM EST

WASHINGTON (AP) — President Joe Biden hosted the Democratic congressional leaders Tuesday at the White House as they face a new era of divided government in Washington, staring down a debt ceiling crisis and running up against a new House Republican majority eager for confrontation. ...

Treasury takes another 'extraordinary' step on debt limit

Jan. 24, 2023 13:03 PM EST

WASHINGTON (AP) — U.S. Treasury Secretary Janet Yellen sent a letter Tuesday to congressional leaders saying she's suspending the reinvestment of some federal bonds in a government workers' savings plan — an additional “extraordinary" measure to buy time for President Joe Biden and Congress...

Debt ceiling: 2011 showdown leaves lessons for Biden, GOP

Jan. 24, 2023 11:10 AM EST

WASHINGTON (AP) — The debate around raising the debt ceiling sounds eerily similar: Newly elected House Republicans, eager to confront the Democratic president in the White House, refused to raise the debt limit without cuts to federal spending. Negotiations over the debt ceiling...

Hockey brawls to debt limit: Emmer wrangles House GOP votes

Jan. 22, 2023 07:50 AM EST

WASHINGTON (AP) — The way Republican Rep. Tom Emmer tells it, the lousiest job he ever had — he has a saltier way of describing it — was running the House Republican campaign committee. But after having helped lead his party back into control of the House in November, the...