With a deadline as soon as June 1 drawing nearer, President Biden and House Speaker Kevin McCarthy tapped their top representatives to work out a deal after a week of talks with a larger contingent stalled out.
debt limit
Posted inBusiness, Nation & World, News, Politics
Biden declares ‘America will not default,’ says he’s confident of budget deal with Republicans
Biden and McCarthy tasked a handful of representatives to try and close out a final deal, with negotiations beginning late Tuesday.
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Posted inTimes Record Opinion
The Conversation: War rooms and bailouts: How banks and the Fed are preparing for a US default – and the chaos expected to follow
THE CONVERSATION — Convening war rooms, planning speedy bailouts and raising house-on-fire alarm bells: Those are a few of the ways the biggest banks and financial regulators are preparing for a potential default on U.S. debt. “You hope it doesn’t happen, but hope is not a strategy – so you prepare for it,” Brian Moynihan, CEO of Bank […]
Posted inNation & World, News, Politics
Job cuts, no Social Security checks: How consumers could be pinched by a U.S. government default
The economy could nosedive into a recession due to a default.
Posted inBusiness, Nation & World, News
McCarthy says debt ceiling deal possible this week as Biden cuts short upcoming foreign trip
The president and House Speaker Kevin McCarthy are trying to strike a budget deal before the U.S. Treasury runs out of cash to keep paying the nation’s bills, which could occur as soon as June 1.
Posted inBusiness, Nation & World, News
Debt ceiling: McCarthy says ‘no progress’ ahead of talks Tuesday with Biden
President Biden remains hopeful that an agreement could be reached with Republicans to avoid what would be an unprecedented debt default, which could trigger a financial catastrophe.
Posted inNation & World, News, Politics
In debt ceiling standoff, COVID era of big spending gives way to new focus on deficit
While the White House has threatened to veto Republican’s debt ceiling bill, the administration has signaled a willingness to consider other budget caps.
Posted inNation & World, News, Politics
Biden hits the road to pressure Republicans amid imperiled debt ceiling talks
The president aims to argue for a swift increase in the debt ceiling a day after meeting with House Speaker Kevin McCarthy, R-Calif., and other congressional leaders.
Posted inNation & World, Politics
Biden: Debt meeting ‘productive,’ default ‘not an option’
House Speaker Kevin McCarthy, R-Calif., says a deal is needed by next week if Washington is to meet the June 1 deadline.
Posted inNation & World, Politics
Biden to meet with congressional leaders in urgent bid to avoid default
The president’s first joint meeting with all four congressional leaders comes with just a few weeks remaining to solve the crisis.
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