Treasury Department announces sobering milestone. America’s total national public debt outstanding is now above $30 trillion, according to Treasury Department data. Government borrowing accelerated during the COVID-19 pandemic as…
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Debt Limit Deal Advances in Senate
A vote is expected on Friday as Senate clear procedural hurdles. The Senate took a step toward increasing the federal government’s debt limit by voting to limit debate…
Read MoreHouse Plans Debt Limit Vote This Week
New borrowing authority is needed by December 15 to avoid a shutdown. House Majority Leader Steny Hoyer said Monday that the House will vote on a bill to…
Read MoreAppropriators Reach Deal on Government Funding
Congress works to avoid government shutdown. House Appropriations Committee Chair Rosa DeLauro of Connecticut said that the top congressional appropriators have reached an agreement on a spending deal to fund…
Read MoreCongress Nears Debt Limit Deadline
No deals are currently on the horizon. The deadline to increase the federal debt limit is only weeks away—December 15. Senate Majority Leader Chuck Schumer of New York and…
Read MoreSpeaker Says Spending Bill Deal Within Sight
She expressed optimism after virtual meeting with president and Senate majority leader. Speaker of the House Nancy Pelosi met virtually on Friday with President Biden and Senate Majority…
Read MorePresident Signs Bill Temporarily Raising Debt Limit
Federal default averted until December. President Joe Biden signed legislation on Thursday temporarily increasing the government’s borrowing limit to $28.9 trillion, delaying the deadline for debt default until…
Read MoreHouse Votes to Lift Debt Ceiling
Congress will have to address the situation again in December. On Tuesday, the House of Representatives passed the $480 billion debt limit increase in a vote of 219-206.…
Read MoreHouse Returns to Washington for Debt Limit Vote
If approved, the debt limit will need to be addressed again in December. Members of the House of Representatives returned to Washington, D.C., on Tuesday to cast their…
Read MoreSenate to Vote on Temporary Debt-Ceiling Increase
Leaders agree on a compromise to carry through December 3. On Thursday, Senate Majority Leader Chuck Schumer announced an agreement had been reached with Minority Leader Mitch McConnell…
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