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Why is Biden holding up debt ceiling talks?

Even as he reassures the public that there won’t be a national default, President Joe Biden still faces big headaches over the debt ceiling. House Republicans are proposing new work requirements for social benefit programs, nixing the president’s massive student debt transfer, and eliminating green energy-related tax credits in order to raise the debt limit, […]

Shuran Huang/The New York Times/Redux

Debt ceiling alarm bells ring in DC today

Every American could get hurt if the new hardline Republican House’s dangerous game of roulette with a still vulnerable economy backfires. The nation reaches a first, critical threshold Thursday in the brewing Washington showdown over the national debt that could define the tenure of the new GOP majority and the final two years of President […]

Tom Williams

Gear up for a debt ceiling fight in congress

The Republican-controlled House has planted the seeds for a debt-ceiling showdown, with Speaker Kevin McCarthy endorsing a push by his hard-liners to demand spending cuts as part of any extension of the country’s borrowing authority. The political divide is deep and the stakes are high. Ultraconservative lawmakers insist they don’t want the country to default, […]