Budget Battles
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Yellen Warns Default Deadline Just 10 Days Away
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Right and Left Fume as Negotiators Near a Debt Limit Deal
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Republicans Rebuff Biden Offers as Debt Talks Bog Down
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Debt Talks ‘Nowhere Near a Deal’ as Deadline Looms
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No Deal Yet but McCarthy Says Biden Meeting ‘Productive’
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Republicans Abruptly Hit ‘Pause’ on Debt Talks
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Dems Worry Biden Is Getting Fleeced
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Yellen Specifies a New Deadline for Raising Debt Limit
Negotiators for President Joe Biden and House Republicans are still working to lock down a deal to set federal spending levels, raise the nation’s borrowing limit and avoid a potentially calamitous U...
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Right and Left Fume as Negotiators Near a Debt Limit Deal
White House and congressional negotiators are reportedly nearing a budget deal that would cut spending and raise the debt ceiling to avert an unprecedented default on U.S. debt — and members of both...
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Republicans Rebuff Biden Offers as Debt Talks Bog Down
With a potential U.S. debt default just over a week away, House Speaker Kevin McCarthy said late Wednesday that negotiators were making progress toward a deal to raise the federal borrowing limit...
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Debt Talks ‘Nowhere Near a Deal’ as Deadline Looms
A day after both President Joe Biden and House Speaker Kevin McCarthy described their Monday meeting as “productive,” the negotiations continued but huge differences remain unresolved. McCarthy...
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No Deal Yet but McCarthy Says Biden Meeting Was ‘Productive’
With less than 10 days until the U.S. government could roil the global economy by defaulting on its debt, House Speaker Kevin McCarthy emerged from a White House meeting with President Joe Biden...
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Republicans Abruptly Hit ‘Pause’ on Debt Talks
Debt-limit talks between the White House and House Speaker Kevin McCarthy have been put on “pause” after Republican negotiators abruptly walked out of the meetings and complained that President Joe...
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Accounting Error Means $3 Billion More in Aid for Ukraine
By Michael RaineyThe Department of Defense said an accounting error led it to overestimate the value of weapons being sent to Ukraine, freeing up at least $3 billion that can be used to provide additional military...
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McCarthy Optimistic About a Debt Deal, but Some Dems Worry Biden Will Get Fleeced
By Michael RaineyHouse Speaker Kevin McCarthy sounded optimistic Thursday about the odds of reaching an agreement on raising the debt ceiling before the U.S. Treasury runs out of cash in as little as two weeks. “We’...
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Senate Democrats Take Aim at GOP Tax Cuts as Source of Deficit
By Michael RaineyAs House Republicans continue to push for major spending cuts in exchange for raising the debt limit, Democrats on the Senate Budget Committee held a hearing Wednesday to highlight the role that tax...
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Dems Prepare Fallback Options, Even as Biden ‘Confident’ US Will Avoid a Default
President Joe Biden expressed optimism Wednesday that negotiations with Republicans will result in a budget deal that will raise the debt limit and avoid an unprecedented debt default. Yet even as he...
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Federal Government Reported $247 Billion in Improper Payments for 2022
Eighteen federal agencies reported roughly $247 billion in improper payments across 82 programs for fiscal year 2022, according to a report released recently by the Government Accountability Office...
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More Stringent Work Requirements for Medicaid Would Have ‘Negligible’ Effect on Employment: CBO
By Michael RaineyIn response to a request from Rep. Frank Pallone Jr. (D-NJ), the Congressional Budget Office evaluated the budgetary effects of work requirements for the Medicaid program included in the Limit, Save...
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7 Takeaways From the House GOP’s Debt Ceiling Success
“We’ve done our job,” House Speaker Kevin McCarthy (R-CA) told reporters yesterday after 217 Republicans votes to pass legislation that would increase the debt limit into next year, cut trillions in...
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House Republicans Pass McCarthy’s Debt Limit Bill. Now What?
The House on Wednesday narrowly passed House Speaker Kevin McCarthy’s package to raise the debt limit into next year and cut trillions of dollars in federal spending. The vote was 217-215, with four...
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Quote of the Day: A Credit Rating Warning
By Michael Rainey“The increasing use of debt limit standoffs to advance political agendas, combined with political polarisation, is a recipe for more, not less, confrontation around the US debt limit in the years...