Debt ceiling: 2011 showdown leaves lessons for Biden, GOP
1 year, 11 months ago

Debt ceiling: 2011 showdown leaves lessons for Biden, GOP

Associated Press  

WASHINGTON — 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 consumed Washington in 2011, a high-stakes showdown between the Obama White House and the new generation of “tea party” House Republicans. Saying Americans were “taxed enough already,” the tea party House Republicans arrived promising to slash federal spending, using the debt ceiling vote as their political leverage. The Biden White House appears to have drawn the conclusion that it’s not worth negotiating with new House Speaker Kevin McCarthy, who won a slim GOP majority in last November’s midterm elections and who may — or may not — be able to deliver the votes on any debt ceiling deal. “What a ridiculous outcome.” Many House Republicans were not in Congress during the 2011 debt ceiling showdown.

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History of this topic

Biden signs bill that averts a government shutdown and brings a close to days of Washington upheaval
3 days, 21 hours ago

Biden signs bill that averts a government shutdown and brings a close to days of Washington upheaval

Associated Press  

WASHINGTON — 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 package. That’s good news for the American people.” House Speaker Mike Johnson, R-La., had insisted …

US House Of Representatives Passes Legislation To Prevent Government Shutdown
Trending News
4 days, 5 hours ago

US House Of Representatives Passes Legislation To Prevent Government Shutdown

ABP News  

The Republican-controlled US House of Representatives passed legislation to prevent a midnight government shutdown on Friday, defying President-elect Donald Trump's call to approve trillions of dollars in new debt. Majority Leader Chuck Schumer posted on X that he is “confident” the Senate will vote to avert a shutdown and hopes “to get it passed as soon as possible.” The legislation …

Joe Biden signs bills to avert shutdown, ending days of political turmoil in Washington
4 days, 13 hours ago

Joe Biden signs bills to avert shutdown, ending days of political turmoil in Washington

India Today  

President Joe Biden on Saturday signed legislation that averts a government shutdown heading into Christmas, bringing a final close to days of upheaval in Washington after Congress passed a bipartisan budget plan just past the deadline and rejected Donald Trump’s core demand in the negotiations. House Speaker Mike Johnson, R-La., had insisted lawmakers would “meet our obligations” and not allow …

Biden signs bill that averts government shutdown after days of upheaval
4 days, 13 hours ago

Biden signs bill that averts government shutdown after days of upheaval

LA Times  

The Capitol is pictured in Washington on Friday. President 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 package. That’s good news for the American people.” House Speaker …

House approves funding bill, sends to Senate hours before government shutdown deadline
4 days, 13 hours ago

House approves funding bill, sends to Senate hours before government shutdown deadline

New Indian Express  

The new 118-page package would fund the government at current levels through March and adds $100 billion in disaster aid and $10 billion in agricultural assistance to farmers. The federal debt limit expires Jan. 1, and Trump doesn't want the first months of his new administration saddled with tough negotiations in Congress to lift the nation's borrowing capacity. “Congress must …

'Very strange': GOP lawmakers question 'completely avoidable' failure of spending bill
4 days, 23 hours ago

'Very strange': GOP lawmakers question 'completely avoidable' failure of spending bill

Raw Story  

Republicans were stunned when Elon Musk, with Donald Trump's help, successfully torpedoed a stopgap government funding bill that House speaker Mike Johnson had brokered. “This was completely avoidable.” Trump and Johnson discussed the funding bill in a private box at last weekend's Army-Navy football game, and Trump told the speaker he wanted a full-year spending bill with the debt limit …

US Congress debates last-minute spending bill to avert government shutdown
5 days, 13 hours ago

US Congress debates last-minute spending bill to avert government shutdown

Al Jazeera  

Nonessential government functions are expected to shutter on Saturday unless a government spending bill can be passed. “If there is going to be a shutdown of government, let it begin now, under the Biden Administration, not after January 20th, under ‘TRUMP’,” the president-elect said on Friday in a social media post. “If Republicans try to pass a clean Continuing Resolution …

House GOP floats new plans to prevent government shutdown with just hours to go
5 days, 13 hours ago

House GOP floats new plans to prevent government shutdown with just hours to go

New Indian Express  

WASHINGTON: Veering toward a midnight Friday government shutdown, House Speaker Mike Johnson is proposing a new plan that would temporarily fund federal operations and disaster aid, but punts President-elect Donald Trump demands for a debt limit increase into the new year. House Republicans are meeting behind closed doors on next steps after Trump doubled-down on his insistence that a debt …

Government funding bill clears Congress and heads to Biden, averting a shutdown
5 days, 13 hours ago

Government funding bill clears Congress and heads to Biden, averting a shutdown

LA Times  

“If there is going to be a shutdown of government, let it begin now,” President-elect Donald Trump posted on social media. 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 …

Dozens of Senate Republicans may oppose Trump's top demand: GOP senator
5 days, 15 hours ago

Dozens of Senate Republicans may oppose Trump's top demand: GOP senator

Raw Story  

President-elect Donald Trump has made either significantly raising the debt ceiling or eliminating it all together his top demand in the current standoff over government funding. Indeed, the MAGA leader touted Thursday that he struck a new deal with House Republicans on a spending bill that would punt the debt ceiling for two years. As Raju wrote on X, Sen. …

Musk's outrage spurs Trump to block bipartisan budget, government shutdown looms
6 days, 11 hours ago

Musk's outrage spurs Trump to block bipartisan budget, government shutdown looms

Hindustan Times  

President-elect Donald Trump delivered a likely death blow to bipartisan congressional budget negotiations on Wednesday, rejecting the measure as full of giveaways to Democrats after billionaire ally Elon Musk whipped up outrage toward the bill and cheered on Republican lawmakers who announced their opposition. “Stop the steal of your tax dollars!” Musk wrote on his social media platform X as …

Democrats dodge a debt ceiling deal
6 days, 13 hours ago

Democrats dodge a debt ceiling deal

Politico  

“Let’s get rid of the debt limit. As much as Democrats would love to disarm this particular legislative time bomb, they’re not in any mood to negotiate with Republicans after Trump and billionaire ally Elon Musk sabotaged the prior deal to keep the government open and provide billions in disaster and farm relief. Rep. Brad Schneider, the incoming chair of …

Musk and Trump put House GOP in a bind
6 days, 13 hours ago

Musk and Trump put House GOP in a bind

Politico  

But then Trump and Vice President-elect JD Vance dumped gasoline on the fire. And we should pass a streamlined spending bill that doesn’t give Chuck Schumer and the Democrats everything they want.” The request for a debt ceiling hike blindsided many on Capitol Hill. Johnson’s not wrong about that: Even before Trump made his debt ceiling demand, some conservatives were …

"Call their bluff": Trump, Vance urge GOP lawmakers to vote down emergency government funding bill
1 week ago

"Call their bluff": Trump, Vance urge GOP lawmakers to vote down emergency government funding bill

Salon  

President-elect Donald Trump is urging members of his party to vote down a resolution that would fund the federal government into March. In a joint statement with Vice President-elect JD Vance shared by Vance on social media, the incoming executives said that Republican legislators should "call bluff" of congressional Democrats and push for a new resolution that doesn't include spending …

House Republicans unite on spending cuts to non-defense programs, but Senate roadblock awaits
5 months, 2 weeks ago

House Republicans unite on spending cuts to non-defense programs, but Senate roadblock awaits

Associated Press  

WASHINGTON — House Republicans are off to a quicker, more united start this year when it comes to funding the federal government, passing four of 12 annual appropriations bills before the end of June compared to zero at this time last year when the new majority got off to a rocky start. That means a protracted, months-long battle that will …

$10 trillion in added debt shows 'Bush and Trump tax cuts broke our modern tax structure'
1 year, 2 months ago

$10 trillion in added debt shows 'Bush and Trump tax cuts broke our modern tax structure'

Raw Story  

The U.S. Treasury Department on Friday released new figures related to the 2023 budget that showed a troubling drop in the nation's tax revenue compared to GDP — a measure which fell to 16.5% despite a growing economy — and an annual deficit increase that essentially doubled from the previous year. In response to the Treasury figures released Friday, Kogan …

Column: What the Republicans forcing a government shutdown have in common with 1960s radicals
1 year, 2 months ago

Column: What the Republicans forcing a government shutdown have in common with 1960s radicals

LA Times  

This week, yet another government shutdown appears inevitable because a sizable chunk of the House Freedom Caucus believes, in the words of Tim Matheson in “Animal House,” that “this situation absolutely requires a really futile and stupid gesture be done on somebody’s part.” What situation? When you’ve convinced yourself that the “system,” “establishment” or “regime” is irretrievably corrupt or some …

Opinion: Watch as Kevin McCarthy puts on 'impeachment theater' while the government teeters
1 year, 3 months ago

Opinion: Watch as Kevin McCarthy puts on 'impeachment theater' while the government teeters

LA Times  

House Speaker Kevin McCarthy holds a news conference at the Capitol in Washington as the House prepares to leave for its August recess. Last spring House Speaker Kevin McCarthy rightly got props from folks across the political spectrum, myself included, for compromising with President Biden to raise the nation’s debt limit and thereby avert economic armageddon. As Florida Man Rep. …

A House impeachment inquiry of President Biden is a ‘natural step forward,’ Speaker McCarthy says
1 year, 3 months ago

A House impeachment inquiry of President Biden is a ‘natural step forward,’ Speaker McCarthy says

Associated Press  

PHOENIX — Speaker Kevin McCarthy suggested Sunday that an impeachment inquiry of President Joe Biden was becoming more likely, calling it “a natural step forward” as Congress soon ends its summer break and House Republicans seek to expand their investigative powers. Meanwhile, McCarthy said passing a short-term spending bill to keep the government running past the end of September would …

'Reckless brinksmanship': McCarthy blamed for 'bizarre and inept' US credit downgrade
1 year, 4 months ago

'Reckless brinksmanship': McCarthy blamed for 'bizarre and inept' US credit downgrade

Raw Story  

On the evening of Monday, August 1st, 2023, FitchRatings lowered the United States' credit "default rating" from 'AAA' to 'AA+', which the agency stated, "reflects the expected fiscal deterioration over the next three years, a high and growing general government debt burden, and the erosion of governance relative to 'AA' and 'AAA' rated peers over the last two decades that …

Members of Congress break for August with no clear path to avoiding a shutdown this fall
1 year, 4 months ago

Members of Congress break for August with no clear path to avoiding a shutdown this fall

Associated Press  

WASHINGTON — Lawmakers broke for their August recess this week with work on funding the government largely incomplete, fueling worries about whether Congress will be able to avoid a partial government shutdown this fall. “We should not fear a government shutdown,” said Rep. Bob Good, R-Va. “Most of the American people won’t even miss if the government is shut down …

These 13 vulnerable Republicans are being targeted in 2024 with one simple message
1 year, 5 months ago

These 13 vulnerable Republicans are being targeted in 2024 with one simple message

Raw Story  

WASHINGTON — Supporters of student loan debt cancellation are organizing to hold GOP lawmakers “accountable” in the 2024 election cycle following the U.S. Supreme Court ruling blocking President Joe Biden’s debt relief plan. The left-leaning Protect Borrowers Action will target 13 U.S. House districts across California, Colorado, Michigan, Nebraska, New York, Oregon and Pennsylvania where Republicans opposed Biden’s plan to …

GOP accused of breaking debt ceiling deal and 'threatening a government shutdown'
1 year, 6 months ago

GOP accused of breaking debt ceiling deal and 'threatening a government shutdown'

Raw Story  

The top Democrat on the House Appropriations Committee accused her Republican colleagues on Thursday of increasing the likelihood of a government shutdown by approving spending numbers below the levels set under the bipartisan debt ceiling agreement, which hasn't even been law for two weeks. In an appearance on CNN, Rep. Rosa DeLauro said House Republicans have already "walked away from …

GOP conservatives shutter House to protest McCarthy-Biden debt deal, setting up next budget brawl
1 year, 6 months ago

GOP conservatives shutter House to protest McCarthy-Biden debt deal, setting up next budget brawl

Associated Press  

WASHINGTON — In fallout from the debt ceiling deal, Speaker Kevin McCarthy is suddenly confronting a new threat to his power as angry hard-right conservatives bring the House chamber to a halt, reviving their displeasure over the compromise struck with President Joe Biden and demanding deeper spending cuts ahead. It’s all setting the stage for a potentially disastrous showdown ahead, …

House conservatives block GOP bills, voice frustration in response to last week’s debt ceiling vote
1 year, 6 months ago

House conservatives block GOP bills, voice frustration in response to last week’s debt ceiling vote

Associated Press  

WASHINGTON — House conservatives staged a mini-revolt Tuesday in retaliation for Speaker Kevin McCarthy’s leadership on last week’s vote to raise the debt ceiling, the right wing banding together to block progress on a mixture of bills and vent their frustration. “The debt limit last week displayed just how far House Republicans have come as a team.” What led the …

Biden signs debt ceiling bill that pulls US back from brink of unprecedented default
1 year, 6 months ago

Biden signs debt ceiling bill that pulls US back from brink of unprecedented default

Associated Press  

WASHINGTON — With just two days to spare, President Joe Biden signed legislation on Saturday that lifts the nation’s debt ceiling, averting an unprecedented default on the federal government’s debt. Instead of holding a public ceremony with lawmakers from both parties — showcasing the bipartisanship that Biden had cited in an Oval Office address on Friday evening — the president …

Biden set to sign debt ceiling bill that averts prospect of unprecedented federal default
1 year, 6 months ago

Biden set to sign debt ceiling bill that averts prospect of unprecedented federal default

The Hindu  

President Joe Biden is expected to sign legislation on Saturday to raise the debt ceiling, dodging Monday's deadline when the Treasury warned that the United States would start running short of cash to pay all its bills. The agreement was hashed out by Mr. Biden and House Speaker Kevin McCarthy, giving Republicans some of their demanded federal spending cuts but …

Biden signs debt ceiling bill, pulling US from brink of default
1 year, 6 months ago

Biden signs debt ceiling bill, pulling US from brink of default

Al Jazeera  

With just two days to spare, President Joe Biden has signed legislation that lifts the nation’s debt ceiling, averting an economically disastrous default on the federal government’s debt. “We’re protecting important priorities from Social Security to Medicare to Medicaid to veterans to our transformational investments in infrastructure and clean energy.” Even as he pledged to continue working with Republicans, Biden …

5 Takeaways From The Debt Ceiling Drama
1 year, 6 months ago

5 Takeaways From The Debt Ceiling Drama

Huff Post  

LOADING ERROR LOADING WASHINGTON ― President Joe Biden will sign the Fiscal Responsibility Act into law on Saturday, capping weeks of congressional drama with a surprisingly dull end to a standoff that risked a worldwide economic catastrophe. Both sides kept their word.” The painstaking negotiations that drove headlines in Washington for months revealed several things about Republicans, Democrats and Biden’s …

How Biden and McCarthy struck a debt limit deal and staved off a catastrophe
1 year, 6 months ago

How Biden and McCarthy struck a debt limit deal and staved off a catastrophe

Associated Press  

WASHINGTON — It was advice that Mitch McConnell had offered to Joe Biden once already: To resolve the debt limit standoff, he needed to strike a deal with House Speaker Kevin McCarthy — and McCarthy alone. I told you then, it’s not how you start, it’s how you finish.” This account of the weeks-long saga of how Washington defused the …

Explained: How 'odd pair', Joe Biden and Kevin McCarthy, helped avert US debt default
1 year, 6 months ago

Explained: How 'odd pair', Joe Biden and Kevin McCarthy, helped avert US debt default

Firstpost  

Like bomb squad technicians who just snipped the last wire on a ticking device, Joe Biden and top Republican Kevin McCarthy are breathing a sigh of relief after reaching a deal on the US debt ceiling. On 27 May 2023, Biden and McCarthy reached a debt ceiling deal to avert US default. Biden is a Democratic president running for re-election …

Just Days To Spare, Senate Gives Final Approval To Debt Ceiling Deal, Sending It To Biden
1 year, 6 months ago

Just Days To Spare, Senate Gives Final Approval To Debt Ceiling Deal, Sending It To Biden

Huff Post  

LOADING ERROR LOADING WASHINGTON — Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the bipartisan deal and send it to President Joe Biden's desk to become law before the fast-approaching deadline. Senate Majority Leader Chuck Schumer said the bill's …

What is the US debt ceiling and what is in the Biden-McCarthy deal?
1 year, 6 months ago

What is the US debt ceiling and what is in the Biden-McCarthy deal?

The Telegraph  

What is the US debt ceiling? Congress passes new spending bills that will increase the debt level, but the debt ceiling is not raised until it is about to be breached. Past debt ceiling fights have typically ended with a hastily arranged agreement in the final hours of negotiations, thus avoiding a default. “That’s the responsibility of governing.” The agreement …

Deal to raise debt ceiling passes US Senate, heads to Biden
1 year, 6 months ago

Deal to raise debt ceiling passes US Senate, heads to Biden

Al Jazeera  

The vote comes as the US hurtles towards a June 5 deadline to raise the government borrowing limit or face default. The United States Senate has voted to approve a bipartisan deal that would increase the country’s debt ceiling, clearing the bill’s last major hurdle before it reaches the desk of President Joe Biden. Still, Senators like Maine’s Susan Collins …

McCarthy proved he’s a stronger House speaker than many expected. But GOP is split over cutting government
1 year, 6 months ago

McCarthy proved he’s a stronger House speaker than many expected. But GOP is split over cutting government

LA Times  

House Speaker Kevin McCarthy leaves the chamber Wednesday after winning a crucial procedural vote on the debt ceiling and budget package he negotiated with President Biden. A win, but with limits By parceling out significant authority to each of the major factions in the House majority — the “five families,” as Republicans have taken to calling them — McCarthy gave …

US debt deal passes House vote: How this is a big win for McCarthy
1 year, 6 months ago

US debt deal passes House vote: How this is a big win for McCarthy

Firstpost  

When the debt limit fight began, it was widely assumed that House Speaker Kevin McCarthy, untested and inexperienced in high-stakes negotiations, would either preside over an economically and politically calamitous government default or lose his hard-won post in a right-wing mutiny after caving to Democrats. With House approval Wednesday night of the debt-limit package he personally negotiated with President Joe …

House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate
1 year, 6 months ago

House OKs debt ceiling bill to avoid default, sends Biden-McCarthy deal to Senate

Associated Press  

WASHINGTON — Veering away from a default crisis, the House approved a debt ceiling and budget cuts package late Wednesday, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans against fierce conservative blowback and progressive dissent. Tensions ran high throughout the day as hard-right Republicans refused the deal, while Democrats said “extremist” …

Debt Ceiling Deal Clears House On Bipartisan Vote; Senate Up Next
1 year, 6 months ago

Debt Ceiling Deal Clears House On Bipartisan Vote; Senate Up Next

Huff Post  

LOADING ERROR LOADING The bill to raise the government’s limit on borrowing and trim the federal budget deficit passed the House late Wednesday, leaving the Senate the last obstacle to avoiding a debt default. “We produced a bill that — in divided government — takes a step towards smaller government, less regulation, more economic growth, and more take-home pay,” McCarthy …

Just days to spare, Senate gives final approval to debt ceiling deal, sending it to Biden
1 year, 6 months ago

Just days to spare, Senate gives final approval to debt ceiling deal, sending it to Biden

LA Times  

Days away from a default crisis, the Capitol is illuminated as the Senate works into the night to finish votes on amendments on the big debt ceiling and budget cuts package. Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on …

US debt ceiling bill passes House with broad bipartisan support
1 year, 6 months ago

US debt ceiling bill passes House with broad bipartisan support

India Today  

A divided US House of Representatives passed a bill to suspend the $31.4 trillion debt ceiling on Wednesday, with majority support from both Democrats and Republicans to overcome opposition led by hardline conservatives and avoid a catastrophic default. READ | US debt ceiling deal ready to head to Congress, says Biden as cash runs low Republicans control the House by …

Debt limit deal heads to vote in full House while McCarthy scrambles for GOP approval
1 year, 6 months ago

Debt limit deal heads to vote in full House while McCarthy scrambles for GOP approval

Associated Press  

WASHINGTON — Under fire from conservatives, House Speaker Kevin McCarthy worked furiously Tuesday to sell fellow Republicans on the debt ceiling and budget deal he negotiated with President Joe Biden and win approval in time to avert a potentially disastrous U.S. default. Overall the 99-page package restricts spending for the next two years, lifts the debt limit and includes policy …

Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government
1 year, 6 months ago

Debt limit deal is in place, but budget deficit is still a multi-decade challenge for US government

Associated Press  

WASHINGTON — Even with the new spending restraints in the debt limit deal that cut borrowing by $1.5 trillion, the U.S. government’s deficits are still on course to keep climbing to record levels over the next few decades. “This debt limit agreement is shaking out to be a political face-saving deal without much substance in terms of changing the U.S. …

‘It Rewards The Hostage-Taking’: Progressives Fume At Biden's Deal With GOP
1 year, 6 months ago

‘It Rewards The Hostage-Taking’: Progressives Fume At Biden's Deal With GOP

Huff Post  

LOADING ERROR LOADING WASHINGTON — Progressive lawmakers are seething at President Joe Biden’s deal with House Republicans for raising the debt ceiling, warning that it could normalize taking the nation’s economy hostage for years to come. The Republicans are demanding changes that they cannot get through the ordinary democratic process because they’re not supported by the American people.” “The minute …

Opinion: The biggest lesson from the debt ceiling fight
1 year, 6 months ago

Opinion: The biggest lesson from the debt ceiling fight

CNN  

Editor’s Note: John Avlon is a CNN senior political analyst and anchor. After months of negotiations between Republican leaders and then-President Barack Obama, the House passed an 11th hour bill by a 269-161 vote, despite opposition from Tea Party conservatives and liberal Democrats alike. The final tally was 193 Democratic House votes and 28 Republican House votes – including Boehner …

House approves the Biden-McCarthy debt ceiling bill as default deadline looms
1 year, 6 months ago

House approves the Biden-McCarthy debt ceiling bill as default deadline looms

NPR  

House approves the Biden-McCarthy debt ceiling bill as default deadline looms Enlarge this image toggle caption Drew Angerer/Getty Images Drew Angerer/Getty Images House lawmakers have passed a piece of compromise legislation brokered between President Biden and House Speaker Kevin McCarthy to avoid an unprecedented debt default with just days to spare. But sitting with one House, with a Democratic Senate …

House approves bipartisan deal to suspend debt limit, reducing fear of U.S. default
1 year, 6 months ago

House approves bipartisan deal to suspend debt limit, reducing fear of U.S. default

LA Times  

House Speaker Kevin McCarthy leaves the chamber after passage of a crucial procedural vote on the debt ceiling and budget cuts package he negotiated with President Biden. “Democrats voting for the rule because he couldn’t get the vote for the rule.” In a rare demonstration of their differences on policy, the three House Democrats vying to replace Sen. Dianne Feinstein …

America’s debt-ceiling deal means it should now avoid Armageddon
1 year, 6 months ago

America’s debt-ceiling deal means it should now avoid Armageddon

Hindustan Times  

Even in a sharply divided Washington, DC, politics-as-usual sometimes works. The consequences of a debt default, the first in America’s modern history, would be dire: the shock from disruption in the biggest sovereign-debt market, accounting for about one-third of the global total and underpinning pricing in financial markets everywhere, threatened to reverberate through every economy around the world. The gravity …

Why McCarthy and Biden both stand to gain from the debt deal — if they can get it passed
1 year, 6 months ago

Why McCarthy and Biden both stand to gain from the debt deal — if they can get it passed

LA Times  

President Biden and House Speaker Kevin McCarthy have different reasons for striking a debt deal, but both men stand to benefit politically. Despite the sharp rhetoric leading up to last weekend’s debt and budget agreement, both House Speaker Kevin McCarthy and President Biden stand to benefit politically. “But we made it clear at the outset of this Congress that we …

US debt limit deal: How we got here
1 year, 6 months ago

US debt limit deal: How we got here

Al Jazeera  

Bipartisan deal to raise debt ceiling and avoid ‘disastrous’ default heads to US Congress after weeks-long impasse. The agreement negotiated by Biden and Republican House Speaker Kevin McCarthy would suspend the debt ceiling for two years and cap government spending during the same period. In April, McCarthy put forward a bill to raise the debt ceiling that would advance key …

Debt Limit deal explained: How will it impact US economy, polls and people
1 year, 6 months ago

Debt Limit deal explained: How will it impact US economy, polls and people

Hindustan Times  

The recent agreement between President Joe Biden and House Republicans regarding the debt limit and spending has sparked discussions and debates. Biden and House Speaker Kevin McCarthy reached a final agreement Sunday on a deal to raise the nation's debt ceiling while trying to ensure enough Republican and Democratic votes to pass the measure in the coming week. Non-defense Spending …

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