The Debt | The Fiscal Times

Senate Scrambles to Get to a Final Vote on Debt Limit Deal

U.S. Senate Majority Leader Schumer holds a news conference at the U.S. Capitol in Washington

The path to raising the debt limit is taking a few late twists and turns. After the House on Wednesday night easily cleared the bill negotiated by...

Debt Limit Deal May Save a Lot Less Money Than McCarthy Claims

FILE PHOTO: U.S. Congressional leaders depart after debt limit talks with President Biden at the White House in Washington

The debt limit deal cut by President Joe Biden and House Speaker Kevin McCarthy would reduce the federal budget deficit by about $70 billion in fiscal...

Debt Limit Deal Set to Pass Its First Test Despite GOP Revolt

May 30, 2023; Washington, DC, USA; Speaker of the House Kevin McCarthy walking back to his office after gaveling the house

The debt limit deal struck by President Joe Biden and Speaker Kevin McCarthy appears set to survive its first legislative test on Tuesday evening...

Yellen Specifies a New Deadline for Raising Debt Limit

FILE PHOTO: US Treasury Secretary Janet Yellen in an interview with Reuters in New Delhi

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...

Right and Left Fume as Negotiators Near a Debt Limit Deal

U.S. President Biden nominates Air Force General Brown to serve as next Joint Chiefs chair at White House event in Washington

White House and congressional negotiators are reportedly nearing a budget deal that would cut spending and raise the debt ceiling to avert an...

Fitch Threatens Downgrade as Debt Limit Brinkmanship Continues

Fitch warns it may cut U.S. credit rating from AAA

Fitch Ratings, one of the three major firms that grade sovereign debt, announced late Wednesday that the United States’ perfect AAA credit rating is...

U.S. ‘Almost Certain’ to Miss Early June Payments Unless Debt Limit Is Raised, Yellen Says

A sign marks the U.S Treasury Department in Washington

Once again warning that the nation faces serious risks from a debt default, Treasury Secretary Janet Yellen said Wednesday that it was “almost certain...

Republicans Rebuff Biden Offers as Debt Talks Bog Down

U.S. House Speaker McCarthy speaks with reporters at the U.S. Capitol in Washington

With a potential U.S. debt default just over a week away, House Speaker Kevin McCarthy said late Wednesday that negotiators were making progress...

Treasury Hits Danger Zone After Memorial Day: Analysis

There is an “elevated risk” that the U.S. Treasury will be unable to pay all of its bills during the first two weeks of June, according to an updated...

Debt Talks ‘Nowhere Near a Deal’ as Deadline Looms

Speaker of the House Kevin McCarthy speaks about the debt ceiling at the U.S. Capitol in Washington

A day after both President Joe Biden and House Speaker Kevin McCarthy described their Monday meeting as “productive,” the negotiations continued but...

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