He responds to some members of Congress suggesting that cuts be made. Senator Mitch McConnell, the chamber’s minority leader, said that there ought to be increases in America’s…
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Nation’s Household Debt at $16.9 Trillion
Greatest increase in two decades hits record. A new report from the Federal Reserve reveals that U.S. household debt has risen to a record $16.9 trillion in the…
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CBO Predicts Summer Government Default
The rise of the debt ceiling is still being negotiated. The Congressional Budget Office has projected that the Treasury Department will run out of ways to prevent a…
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President Requests Budget Details from Speaker
He reaffirmed the U.S. commitment to avoiding debt default. President Joe Biden has called on House leadership to release a budget proposal for Americans to see for themselves.…
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President Biden Sees Raising Debt Limit as Non-Negotiable
House speaker would like cuts to federal spending. National Economic Council Director Brian Deese recently relayed President Biden’s sentiments regarding lifting the nation’s debt ceiling. He stated, “It’s…
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President and House Speaker to Meet Wednesday
The debt ceiling is expected to be at top of the agenda. House Speaker Kevin McCarthy of California said he and President Joe Biden will meet Wednesday to…
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Bill Would Eliminate Federal Debt Ceiling
Congress looking for ways to avoid regular adjustments of debt ceiling. Representative Bill Foster of Illinois and 42 co-sponsors introduced the End the Threat of Default Act which…
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Treasury Secretary Urges Congress to Act on Debt Ceiling
She says steps must be taken to avoid default. Treasury Secretary Janet Yellen has notified Congress that the statutory debt limit of the U.S. will be reached this…
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Chamber of Commerce Urges Congress to End Gridlock
The lobbying group says businesses want to see progress. The U.S. Chamber of Commerce, the largest business lobbying group in the nation, has communicated to Congress that businesses…
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New House Rules Contain Major Reforms
Rules package was approved Monday night. The House of Representatives has approved a rules package that is intended to control government spending, reduce bureaucracy, and challenge leadership. The…
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