Janet Yellen tells Congress US could hit debt limit in mid-January FATIMA HUSSEIN Associated Press Dec 27, 2024 Updated May 23, 2025 0 ...

In order to avoid a default on the debt, Congress will have to raise the limit or suspend it entirely in the coming months and possibly as soon as June 1, Yellen said last week.

The increasing trend of deficit and total debt is generating less gross domestic product (GDP) annually. It’s not a debate, ...

A key section of Trump’s One Big Beautiful Bill Act has been dropped but the fate of a global tax deal that took decades to achieve is now up in the air.

A huge tornado was seen twisting over a field south of Gary, South Dakota, on June 28, as severe storms swept the area. The ...

A proposed $5 trillion debt limit increase could make it hard for Republicans to maintain their fiscal hawk credibility.

Treasury Secretary Scott Bessent told US lawmakers he’s extending the latest period for deploying special accounting measures to keep within the debt limit through July 24, 2025.

WASHINGTON — With the clock ticking once again on the need to raise the nation’s debt limit, an unusual political alliance has formed to try to end these economically damaging showdowns for ...

That stance has often led to standoffs over raising the nation’s borrowing cap, with Republicans insisting that any increase in America’s so-called debt limit be paired with spending reductions.

The U.S. debt-limit deadline could arrive sooner if courts order the Treasury to pay back tariff revenue, Treasury Secretary Scott Bessent told reporters Friday.

President Joe Biden has signed a bill to suspend the debt limit for two years into law, averting a first-ever U.S. default and formally bringing an end to a monthslong standoff with House ...

The Bipartisan Policy Center now projects that the so-called X-date could come between Aug. 15 and Oct. 3. The BPC previously said between August and October. The estimate is in line with separate ...