Add Yahoo as a preferred source to see more of our stories on Google. The debt ceiling is the limit placed by Congress on the amount of debt the government can accrue. In order to pay its bills to ...

Rep. Dan Newhouse (R-Wash.) doesn’t think scrapping the debt limit, as President Donald Trump suggested, is the wisest decision. He does, however, sympathize with the reason Trump and some others are ...

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 ...

Since the start of President Donald Trump's second term, the weight of the world, or at least of global markets, international trade, and geopolitical relations, has fallen on the shoulders of ...

The federal debt limit is not the same as funding the government. If the U.S. defaults on its debt, the ramifications are different than when Congress fails to fund the government. The recently ...

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, ...

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 ...