Add Yahoo as a preferred source to see more of our stories on Google. The debt ceiling is the limit placed by Congress on the amount of debt the government can accrue. In order to pay its bills to ...

Staying below the $14.3 trillion ceiling would require spending cuts or tax increases that are far greater than leaders of either party are... Every day, the federal government spends more money than ...

Rep. Dan Newhouse (R-Wash.) doesn’t think scrapping the debt limit, as President Donald Trump suggested, is the wisest decision. He does, however, sympathize with the reason Trump and some others are ...

Biden had insisted on approving the debt ceiling with no strings attached, saying the U.S. always pays its bills and defaulting on debt is non-negotiable. But he launched negotiations after House ...

Scott Bessent, the U.S. Treasury Secretary, assured that the country will not default on its debt, even as the deadline for raising the federal debt ceiling approaches. The debt ceiling, a cap set by ...

Since the start of President Donald Trump's second term, the weight of the world, or at least of global markets, international trade, and geopolitical relations, has fallen on the shoulders of ...

You can’t undo what’s been done. Maybe Chuck Schumer should have forced a government shutdown by filibuster. But that chapter is in the past. Looking down the road, the next big conflict on the ...

The debt ceiling does nothing to enforce fiscal discipline—and threatens real economic harm. Congress should drop this outdated and dangerous charade. President Trump is right. We should junk the debt ...

In 2023, a stalemate between then-President Joe Biden and congressional Republicans over the debt ceiling prompted panic among financial analysts and everyday Americans alike. The deal they struck, ...

WASHINGTON — House Speaker Kevin McCarthy said Thursday that "every hour matters" as his team scrambles to finalize a budget deal with the White House that would enable the government to avoid a ...