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Since the debt ceiling system was instituted in 1917, Congress has never not raised the debt ceiling. Congress has voted 78 times to raise or suspend the debt limit since 1960.
A debt-ceiling breach has become a political tool — one that Trump is trying to wield for the last time The debt ceiling limits the amount of money the federal government is allowed to borrow to ...
The US would hit the new ceiling in the second half of the year, with the potential of default coming in the first half of 2026, according to his back-of-the-envelope calculation.
The new president and congressional leaders are meeting Tuesday to hash out a strategy for maintaining US creditworthiness and the government's ability to service $36 trillion in debt. Trump is ...
The nation will hit its roughly $36 trillion debt limit on Tuesday, when the Treasury Department will start taking extraordinary measures to allow the government to pay its bills, outgoing ...
For about 48 hours last week, it looked like a debt ceiling fight in 2025 would be averted, as ideas were floated to postpone the issue until 2027 or 2029 (or even forever). But it was not to be.
Federal spending levels are another area where a middle ground may be possible. Observers have noted that McCarthy’s bill would, on net, cut deficits by $4.8 trillion over 10 years.
The debt ceiling compromise bill sailed to passage in the House on Wednesday evening. The House voted 314-117 after just over an hour of debate on the legislation. The bill required a simple ...