Some members of the House are unwilling to compromise. Senator John Thune of South Dakota said that Congress will have to agree on short-term funding for the government…
Read MoreNational Debt
National Debt Interest Could be Highest U.S. Expense
Entitlements and defense spending could be eclipsed with debt’s interest. The U.S. Treasury Department released data that shows government spending increased the national debt to $31.38 trillion in…
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Senate Drafting Stopgap Spending Bill Ahead of House
Senators work to extend the deadline for the annual funding bill. Congress returned to Capitol Hill on Tuesday after the month-long summer August recess. The Senate is working…
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America’s Credit Rating Downgraded
Treasury Secretary Yellen objects to reduction even as the nation may borrow $2 trillion by yearend. Fitch Ratings, Inc. downgraded its rating of the stability of the federal…
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Congress Seeks Common Ground on Government Funding
Federal budget as well as farm bill and FAA authorizations due by September 30. The current year’s budget was finally passed by Congress on June 5 after much…
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Treasury Secretary Commends Zambia’s Debt Restructuring
The troubled nation receives an extension on debt repayment. Secretary of the Treasury Janet Yellen commended Zambia’s debt restructuring agreement this week. Many African countries are deeply in…
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Debt Deal Passed by House Heads to Senate
Senator Schumer plans to fast-track the legislation. Senate Majority Leader Chuck Schumer of New York said there is no time to tamper with changes to the debt ceiling…
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House to Vote on Debt Ceiling
Reservations on the bill remain strong. The House of Representatives is expected to vote on a bill to suspend the debt ceiling Wednesday evening. The bill was negotiated…
Read MoreHouse to Vote on Spending and Debt Limit Deal
President and speaker come to an agreement. The House will vote Wednesday on a deal to increase the debt ceiling. The agreement would also cap some government spending over…
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Court Sets Hearing on Debt Limit Law
Federal judge to hear arguments on constitutionality. Federal Judge Richard Stearns of the U.S. District Court for Massachusetts has set May 31 at 2 p.m. to hear arguments…
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