Democrats have long called for eliminating the debt ceiling. Sen. Elizabeth Warren signaled support for Trump's unexpected proposal.

The U.S. may be weeks away from being unable to pay its bills — an event that, should it come to pass, would likely be accompanied by broad and painful financial consequences for American households.

Over the past 60 years, US Congress has raised the debt ceiling 78 times. For most of this period, raising the debt ceiling ...

President-elect Donald Trump said Thursday that Congress should get rid of the debt ceiling, a day after he and Elon Musk came out against a deal reached by congressional lawmakers to fund the ...

Senate Majority Leader Chuck Schumer said Thursday that lawmakers had reached a deal to extend the federal debt ceiling through December and that a vote on the measure could take place within hours.

This story is free to read because readers choose to support LAist. If you find value in independent local reporting, make a donation to power our newsroom today. Cynthia Gordy is The Root's ...