How does the US debt limit standoff end? A look at the possible scenarios
1 year, 8 months ago

How does the US debt limit standoff end? A look at the possible scenarios

Associated Press  

WASHINGTON — Just how does this debt limit standoff end? Biden wants to increase the government’s $31.4 trillion legal borrowing limit, so that the federal government can continue to pay its bills and the risk of a historic default goes away. This would be in line with the GOP’s effort to sync the budget debate with the debt limit, while also removing the immediate risk of a default. shall not be questioned.” Laurence Tribe, an emeritus Harvard University law school professor, wrote Sunday in The New York Times that Biden can argue he has a constitutional duty to avoid default and thus can blow past the debt limit to continue the spending Congress has already approved. If there’s no deal, the U.S. government could reach its “X-date” — the moment when it no longer can pay all of its bills.

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History of this topic

The debt ceiling is back, but no need to worry – yet
1 week, 2 days ago

The debt ceiling is back, but no need to worry – yet

CNN  

CNN — The nation’s debt ceiling was reinstated Thursday, giving congressional Republicans yet another divisive challenge to contend with in 2025. Each bill they work on in the coming months offers an opportunity for a timely debt limit resolution.” Just how long Congress has to handle its debt ceiling dilemma depends heavily on the amount of federal tax revenue collected …

Trump lashes out at extension of debt ceiling and points finger at Democrats and McCarthy over crisis: Live updates
1 week, 5 days ago

Trump lashes out at extension of debt ceiling and points finger at Democrats and McCarthy over crisis: Live updates

The Independent  

✕ Close Musk Vs MAGA War: Trump Camp In Bitter Fight Over Immigration, Foreign Worker Visas Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from …

Opinion: Politics past will haunt Washington in 2025. It won't be pretty
Trending News
1 week, 6 days ago

Opinion: Politics past will haunt Washington in 2025. It won't be pretty

LA Times  

President-elect Donald Trump sits in the White House Oval Office during his meeting with President Biden after the Nov. 5 election. Having first made U.S. history by ousting a speaker in the just-concluded Congress — former Bakersfield Rep. Kevin McCarthy — some House Republicans are already predicting that Speaker Mike Johnson of Louisiana won’t survive the new one. First Musk …

Janet Yellen warns Congress ‘extraordinary measures’ will be needed to stop US hitting debt limit
1 week, 6 days ago

Janet Yellen warns Congress ‘extraordinary measures’ will be needed to stop US hitting debt limit

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Treasury Secretary Janet Yellen said her agency will need to …

Janet Yellen tells Congress US could hit debt limit in mid-January
Trending News
2 weeks ago

Janet Yellen tells Congress US could hit debt limit in mid-January

Associated Press  

WASHINGTON — Treasury Secretary Janet Yellen said her agency will need to start taking “extraordinary measures,” or special accounting maneuvers intended to prevent the nation from hitting the debt ceiling, as early as January 14, in a letter sent to congressional leaders Friday afternoon. “Treasury expects to hit the statutory debt ceiling between January 14 and January 23,” Yellen wrote …

Biden signs funding bill to avert government shutdown
2 weeks, 6 days ago

Biden signs funding bill to avert government shutdown

Firstpost  

After last-minute legislative wrangling amid pressure from incoming president Donald Trump, lawmakers finally passed the funding bill in the early hours of Saturday, narrowly avoiding massive halts in government services right ahead of the Christmas holiday. Speaker of the House Mike Johnson, R-La., talks to reporters after passing the funding bill to avert the government shutdown at the Capitol in …

Biden signs bill that averts a government shutdown and brings a close to days of Washington upheaval
2 weeks, 6 days 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 approves funding bill hours before govt shutdown deadline
3 weeks ago

US: House approves funding bill hours before govt shutdown deadline

Deccan Chronicle  

Hours to go before a midnight government shutdown, the House approved a new plan late Friday from Speaker Mike Johnson that would temporarily fund federal operations and disaster aid, but drops President-elect Donald Trump's demands for a debt limit increase into the new year.Johnson insisted Congress would "meet our obligations" and not allow federal operations to shutter ahead of the …

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

Government shutdown is averted just after deadline as Congress rejects Trump’s debt limit demands
3 weeks ago

Government shutdown is averted just after deadline as Congress rejects Trump’s debt limit demands

Associated Press  

▶ Follow live updates on federal funding negotiations as a government shutdown looms. WASHINGTON — 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 year. But the day’s outcome was …

Washington DC plunges into chaos as government shutdown looms after Republican spending plan fails
3 weeks ago

Washington DC plunges into chaos as government shutdown looms after Republican spending plan fails

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. But Johnson’s team was also looking at the passage of a “clean” continuing resolution …

Trump just handed Democrats an 'enticing' policy offer — and they should take it: analyst
3 weeks, 1 day ago

Trump just handed Democrats an 'enticing' policy offer — and they should take it: analyst

Raw Story  

President-elect Donald Trump is demanding as part of the spending package the GOP is trying to force through that the debt ceiling be extended — or possibly abolished altogether, which Democrats have broadly rejected as a ploy to allow new tax breaks for billionaires. But not so fast, columnist Heather Long wrote for The Washington Post — Trump's proposal is …

Government funding bill clears Congress and heads to Biden, averting a shutdown
3 weeks, 1 day 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 …

What to know about the debt ceiling debate as a government shutdown looms in Washington
3 weeks, 1 day ago

What to know about the debt ceiling debate as a government shutdown looms in Washington

Associated Press  

A debate over the debt ceiling is at the center of a dispute over funding that is pushing Washington to the brink of a federal government shutdown. The debt ceiling, or debt limit, is the total amount of money that the United States government can borrow to meet its existing legal obligations. When he rejected the spending proposal on Wednesday, …

Trump intervened to sink US debt ceiling bill. What happens next?
3 weeks, 2 days ago

Trump intervened to sink US debt ceiling bill. What happens next?

Al Jazeera  

The president-elect’s late intervention to sink the bipartisan bill leaves lawmakers scrambling to reach an agreement. After scuppering the bipartisan spending bill, Trump threw his support behind a hastily assembled spending package that included a two-year suspension of the debt ceiling at his urging. In an interview with NBC News earlier on Thursday, Trump said that getting rid of the …

Dems are suddenly squeamish about a debt limit hike
3 weeks, 2 days ago

Dems are suddenly squeamish about a debt limit hike

Politico  

Dems are suddenly squeamish about a debt limit hike With assists from POLITICO’s Congress team Rep. Brad Schneider said the GOP's decision to renege on a CR deal “makes it virtually impossible” to address the debt limit. Follow the action at Inside Congress Live THE CEILING IS THE FLOOR House Democrats are finding themselves in uncharted waters after President-elect Donald …

Key GOP economic talking point destroyed by new analysis
6 months, 2 weeks ago

Key GOP economic talking point destroyed by new analysis

Raw Story  

National debt has for decades been a go-to issue Republicans try to use to persuade voters against supporting social programs — an issue that has crept back to the forefront with new reports that annual interest payments serving the national debt now exceed what the U.S. spends on its military. According to the report, former President Donald Trump's contribution 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 …

Debt ceiling news latest: Biden signs debt limit bill after hailing deal in Oval Office address
1 year, 7 months ago

Debt ceiling news latest: Biden signs debt limit bill after hailing deal in Oval Office address

The Independent  

✕ Close Voting has started as lawmakers agree on a debt limit deal Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read …

Biden Signs Debt Ceiling Bill That Pulls US Back From Brink Of Default
1 year, 7 months ago

Biden Signs Debt Ceiling Bill That Pulls US Back From Brink Of Default

Huff Post  

LOADING ERROR LOADING The White House announced the signing, done in private at the White House, in an emailed statement in which Biden thanked congressional leaders for their partnership. President Joe Biden meets with House Speaker Kevin McCarthy of Calif., to discuss the debt limit in the Oval Office of the White House, Monday, May 22, 2023, in Washington. “We’re …

5 Takeaways From The Debt Ceiling Drama
1 year, 7 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, 7 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 …

Just Days To Spare, Senate Gives Final Approval To Debt Ceiling Deal, Sending It To Biden
1 year, 7 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, 7 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 …

Debt limit deal heads to vote in full House while McCarthy scrambles for GOP approval
1 year, 7 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 …

America’s debt-ceiling deal means it should now avoid Armageddon
1 year, 7 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 …

US debt limit deal: How we got here
1 year, 7 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, 7 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 …

US debt ceiling deal: the key takeaways
1 year, 7 months ago

US debt ceiling deal: the key takeaways

Raw Story  

President Joe Biden and House Republicans have reached a deal to raise the government's debt ceiling and avert a devastating default. The crux of it Formally known as the Fiscal Responsibility Act of 2023, the bill provides for an increase to the debt ceiling of $31.4 trillion for two years, meaning Biden will crucially not need to negotiate it again …

Key takeaways from Biden and McCarthy's debt ceiling deal
1 year, 7 months ago

Key takeaways from Biden and McCarthy's debt ceiling deal

Firstpost  

There’s a nervous air in the United States as the deadline to increase the debt ceiling approaches. On Saturday, they reached a crucial agreement to raise the government’s debt ceiling, avoiding a disastrous default. AFP Unspent COVID money The deal would also take back some funding that Congress allocated for the coronavirus pandemic but did not spend. A statement from …

Biden says final US debt ceiling deal ready for Congress vote
1 year, 7 months ago

Biden says final US debt ceiling deal ready for Congress vote

Al Jazeera  

US president and House Speaker Kevin McCarthy confident they will be able to get enough support to avert unprecedented default. United States President Joe Biden has finalised an agreement with House Speaker Kevin McCarthy to raise the debt ceiling over two years until January 1, 2025, saying the deal is ready to move to Congress for a vote. “Takes the …

What's next on the debt ceiling: Selling the plan, and making a deal into a law
1 year, 7 months ago

What's next on the debt ceiling: Selling the plan, and making a deal into a law

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy After weeks of negotiations, President Joe Biden and House Speaker …

Race for U.S. debt deal as talks go to the wire
1 year, 7 months ago

Race for U.S. debt deal as talks go to the wire

The Hindu  

Democrats and Republicans seemed within grasping distance Saturday of a deal to end the U.S. debt ceiling standoff, with both sides playing hardball in the final race for an agreement to avert a potentially catastrophic default. President Joe Biden gave the strongest sign yet on Friday night that the drama in Washington might be drawing to an end — saying …

Column: With debt ceiling deal, GOP reveals its only real goal was cruelty to the poor
1 year, 7 months ago

Column: With debt ceiling deal, GOP reveals its only real goal was cruelty to the poor

LA Times  

House Speaker Kevin McCarthy got very little for his threat to crash the U.S. economy by refusing to increase the debt ceiling. No one should be surprised that the resolution of our most moronic fiscal policy, the federal debt ceiling, involved our stupidest social policy, work requirements for assistance programs. In negotiations between the Biden White House and House Speaker …

Biden and McCarthy reach last-minute deal to raise U.S. debt limit
1 year, 7 months ago

Biden and McCarthy reach last-minute deal to raise U.S. debt limit

LA Times  

President Biden and House Speaker Kevin McCarthy reached what both men called an “agreement in principle” on Saturday to raise the federal government’s borrowing limit and cut some spending, as they sought to end a months-long stalemate that brought the government to the brink of defaulting on its credit for the first time. McCarthy said that he and Biden had …

US debt ceiling has catastrophic effects- 83 lakh job losses, world recession I EXPLAINED
1 year, 7 months ago

US debt ceiling has catastrophic effects- 83 lakh job losses, world recession I EXPLAINED

India TV News  

US Debt ceiling row: Amid the looming catastrophic recession, US President Joe Biden and House Speaker Kevin McCarthy are narrowing in on a two-year budget deal aiming to curb federal deficits in exchange for lifting the nation’s debt ceiling and staving off an economically devastating government default. White House estimates say a prolonged default could cause 8.3 million job losses …

Where do things stand as the US rolls back debt ceiling deadline?
1 year, 7 months ago

Where do things stand as the US rolls back debt ceiling deadline?

Al Jazeera  

US Treasury Secretary Janet Yellen says the agency will run out of funds to meet financial obligations by June 5. Congress is tasked with increasing the nation’s debt ceiling, and Republican legislators have used their majority in the US House of Representatives as leverage to demand cuts to social programmes in exchange for a ceiling increase as a default looms …

‘Time’s up’: Deal on US debt ceiling close as default looms
1 year, 7 months ago

‘Time’s up’: Deal on US debt ceiling close as default looms

Al Jazeera  

A default could upend global financial markets and push the United States into a major recession. US President Joe Biden and top congressional Republican Kevin McCarthy are closing in on a deal that would raise the government’s $31.4 trillion debt ceiling for two years while capping spending on most programmes, news reports say. The potential agreement would increase funding for …

Republicans Preparing Major Tax Cut Bill For After Debt Ceiling Crisis
1 year, 7 months ago

Republicans Preparing Major Tax Cut Bill For After Debt Ceiling Crisis

Huff Post  

LOADING ERROR LOADING WASHINGTON ― House Republicans are preparing a package of tax cuts they could take up soon after Congress gets finished with its debt ceiling crisis. “But we’re prepared to move forward with an economic package that I think will be reflective of what we’ve talked a lot about.” LaHood said that Republicans would consider how to “continue …

Conservatives Furious As Lawmakers Close In On Debt Limit Deal
1 year, 7 months ago

Conservatives Furious As Lawmakers Close In On Debt Limit Deal

Huff Post  

LOADING ERROR LOADING WASHINGTON — Hard-line conservative Republicans are anxious about a possible deal between House Speaker Kevin McCarthy and President Joe Biden that would avert a catastrophic debt default. “I am concerned about rumors to the effect — and I haven’t read or seen anything yet — but rumors that we may have some sort of a deal in …

McCarthy's Republicans push debt ceiling talks to brink, lawmakers leaving town for weekend
1 year, 7 months ago

McCarthy's Republicans push debt ceiling talks to brink, lawmakers leaving town for weekend

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. A defiant House Speaker Kevin McCarthy said the debt ceiling standoff was “not my …

McCarthy says debt ceiling standoff ‘not my fault,’ as White House warns of economic risks
1 year, 7 months ago

McCarthy says debt ceiling standoff ‘not my fault,’ as White House warns of economic risks

Associated Press  

WASHINGTON — A defiant House Speaker Kevin McCarthy said Wednesday the debt ceiling standoff was “not my fault” as he sent Republican negotiators to the White House to finish out talks, but warned the two sides need more time as they try to reach a budget deal with President Joe Biden. The White House blamed the Republicans led by McCarthy …

Column: When Kevin McCarthy’s spending cuts get spelled out, even Republicans balk
1 year, 7 months ago

Column: When Kevin McCarthy’s spending cuts get spelled out, even Republicans balk

LA Times  

Whether you’re for the demand by House Republicans for deep spending cuts as a condition for raising the nation’s debt ceiling or you’re against it, there are some things you should know in assessing their gambit. Perhaps the single most important fact is this: While Speaker Kevin McCarthy likes to claim that his debt limit bill would break Democrats’ “addiction …

US on the debt ledge, will it fall?
1 year, 7 months ago

US on the debt ledge, will it fall?

Firstpost  

June 1, the earliest date by which the US could default is just a little over a week away. Meanwhile, “extraordinary measures” have been adopted by the US Treasury Department to maintain cash flow till the “hard deadline”, but without an agreement in Congress to raise the limit Treasury Secretary Janet Yellen has warned that the US may not meet …

'Productive' Talks No Deal Yet: What Is US Debt Ceiling, Over Which US Lawmakers Have Locked Horns?
1 year, 7 months ago

'Productive' Talks No Deal Yet: What Is US Debt Ceiling, Over Which US Lawmakers Have Locked Horns?

ABP News  

US President Joe Biden and Republican House Speaker Kevin McCarthy have called their latest round of negotiations on the debt ceiling “productive”, but they still haven’t reached a deal to avoid looming debt default. The US Treasury departments websites say that the debt limit is the total amount of money that the United States government is authorised to borrow to …

Kevin McCarthy: ‘Don’t Give Up’ On Debt Limit Talks, But Signs Of Progress Prove Elusive
1 year, 7 months ago

Kevin McCarthy: ‘Don’t Give Up’ On Debt Limit Talks, But Signs Of Progress Prove Elusive

Huff Post  

LOADING ERROR LOADING House Speaker Kevin McCarthy said the latest meeting with the White House over the need to raise the limit on how much the government can borrow was productive, even as he was pressed to point to specific signs of progress. McCarthy had his third face-to-face meeting with President Joe Biden in less than two weeks as the …

Joe Biden, House Speaker McCarthy fail to break the ice on debt ceiling deal
1 year, 7 months ago

Joe Biden, House Speaker McCarthy fail to break the ice on debt ceiling deal

India Today  

US President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement on Monday on how to raise the US government's $31.4 trillion debt ceiling with just 10 days before a possible default that could sink the American economy, but vowed to keep talking. The Democratic president and the top congressional Republican have struggled to make a deal, …

No debt ceiling agreement in White House meeting, though Biden and McCarthy call talks productive
1 year, 7 months ago

No debt ceiling agreement in White House meeting, though Biden and McCarthy call talks productive

LA Times  

House Speaker Kevin McCarthy speaks as he meets with President Biden to discuss the debt limit in the Oval Office of the White House on Monday. PresidentBiden and House Speaker Kevin McCarthy declared they had a productive debt ceiling discussion late Monday at the White House, but there was no agreement and neither side appeared to be giving ground as …

US debt ceiling impasse continues, attacks escalate as deadline draws near
1 year, 7 months ago

US debt ceiling impasse continues, attacks escalate as deadline draws near

India Today  

President Joe Biden's administration and congressional Republicans traded barbs on Saturday over raising the federal $31.4 trillion debt ceiling, with both sides casting the other's proposals as too extreme. White House Press Secretary Karine Jean-Pierre noted in a statement that Biden and Republican House of Representatives Speaker Kevin McCarthy had agreed that any budget agreement would need to be bipartisan …

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