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 ...

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 ...

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, ...

As it stands the debt limit is 31.4 trillion dollars, which is more money than, say, the GDP of Ethiopia.

The debt ceiling is the legal limit on the total amount of federal debt that the US government can have outstanding. The X-date is when the US government will exhaust its extraordinary measures and be ...

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 ...