President Biden is traveling to Japan for the G-7 summit but opted to cut planned visits to Papua New Guinea and Australia as the deadline to reach a deal on raising the debt limit looms. “President Biden will return to the United
President Joe Biden has cancelled a visit to Australia because of the mounting US debt ceiling crisis at home. Biden was due to address the Australian parliament as part of an Asian tour before attending a meeting of the Quad countries of
The US Treasury Secretary has warned of “chaos” if the federal government fails to raise the debt ceiling. Janet Yellen warned that if no action is taken to extend the amount the federal government can borrow, it could run out of money
A global recession could be triggered if Democrat and Republican politicians do not resolve the US debt ceiling dilemma. If the country were to reach its debt ceiling, this would mean the Government would be unable to borrow any money. As of
Joe Biden has left House Republican’s “no choice” but to push for spending cuts to raise the debt ceiling. In Tuesday’s raucous State of the Union, the President lashed out at some members of the GOP for wanting to axe Social Security
Republicans have urged Joe Biden to axe nearly $500 billion in unused Covid funds to tackle the debt ceiling crisis. While the President and Speaker Kevin McCarthy met on Thursday to address the possible crisis, no deal on raising the limit was
Elizabeth Schulze reports on impact of debt ceiling on US economy Joe Biden and House Speaker Kevin McCarthy are set to sit down today to discuss the US debt ceiling. However, Biden has said a raise is non-negotiable while McCarthy’s Republicans want
Treasury Secretary Janet L. Yellen announced last week that America had reached its existing borrowing cap of $31.4 trillion, starting the debt issuance suspension period. After this point, the US will begin to default on its debt, which risks plunging the country
Joe Biden has refused to compromise on spending as the US approached the trillion dollar debt ceiling. But what is the debt ceiling? And how will hitting it affect you? Republican Speaker Kevin McCarthy has said his party in Congress will only