debt
McConnell, Senate leaving debt limit deal to McCarthy and Biden
WASHINGTON — Democratic leaders huddled with President Joe Biden at the White House on Tuesday, ahead of what will be a tumultuous few months, with lawmakers sharply divided on the debt limit and short on time. “I have no intention of letting the Republicans wreck our economy, nor does anybody around this table,” Biden said […]
U.S. hits debt limit and Treasury Department begins ‘extraordinary measures’
WASHINGTON — The nation reached its debt limit Thursday, beginning the uncertain process known as extraordinary measures, in which the U.S. Treasury Department uses accounting maneuvers to avoid defaulting on the debt. The often-used practice is intended to give the Republican House, Democratic Senate and Biden administration time to negotiate a bipartisan agreement to raise […]