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Senate Clears Way
to Raise Debt Ceiling
Dec 9, 2021 7:15 PM CST
Senate Clears Way to Raise Debt Ceiling
14 Republicans, including McConnell, vote with Democrats
: The Senate approved a one-time deal for raising the debt ceiling on Thursday. The measure passed with the help of 14 Republicans, the
New York Times
reports. A simple majority vote now will increase the borrowing limit; Democrats won't need any Republican votes. Minority Leader Mitch McConnell voted...
Dems Slam 'Lousy Deal,'
Pass Debt Limit Extension
Oct 12, 2021 7:45 PM CDT
Dems Slam 'Lousy Deal,' Pass Debt Limit Extension
Congress will have to revisit issue in 7 weeks
- The House has approved a short-term extension of the nation's debt limit, postponing the danger of an unprecedented debt default until early December. President Biden is expected to sign the legislation, which was approved by the Senate in a party-line vote last week, Politico reports. The $480 billion measure,...
Oct 7, 2021 7:47 PM CDT
Debt Ceiling Deal Clears Senate
We're good until December
The Senate dodged a US debt disaster Thursday night, voting to extend the government’s borrowing authority into December and temporarily avert an unprecedented federal default that experts warned would devastate the economy and harm millions of Americans. The vote of 50-48 in support of the bill to raise...
Democrats Say They'll
Take Deal on Debt Limit
Oct 6, 2021 5:50 PM CDT
Democrats Say They'll Take Deal on Debt Limit
Mitch McConnell offered short-term extension
Both sides claimed victory Wednesday after Democratic senators agreed to accept Senate Minority Leader Mitch McConnell's offer of a short-term deal on raising the debt limit, Politico reports. After a closed-door caucus meeting, Senate Democrats said they were prepared to accept the Republican's offer of an emergency...
Biden Tells GOP to 'Get Out
of the Way' on Debt Limit
Oct 4, 2021 5:25 PM CDT
Biden Tells GOP to 'Get Out of the Way' on Debt Limit
McConnell says Dems must handle issue alone
- President Biden on Monday urged Republican senators to “get out of the way” and let Democrats suspend the nation’s debt limit, hoping to keep the US government from bumping dangerously close to a credit default as Senate Republican Leader Mitch McConnell refuses to lend his party’s help....
Jack Lew: US
About to Default
on Its Debt
Feb 3, 2014 4:25 PM CST
Jack Lew: US About to Default on Its Debt
Treasury secretary asks Congress to extend the debt limit
- US Treasury Secretary Jack Lew sent a message to Congress today: To wit, we need more money, and fast. Lew warned lawmakers that they'd better raise the country's borrowing limit before the current debt-limit suspension expires on Friday and reinstates a $16.7 trillion cap, the BBC reports....
As Default Looms,
to Unload US Bonds
Oct 15, 2013 11:53 AM CDT
As Default Looms, Investors Scurry to Unload US Bonds
Banks steer clear of short-term US debt
- Worried over the possibility of default, investors and banks aren't taking chances: They're selling off billions of dollars of US debt, the
Wall Street Journal
reports. Banks have cut their government debt holdings by some 50% in the past two weeks, New York's Federal Reserve says. Additionally,...
Shutdown Deal Near?
Tone Still Hopeful
Oct 11, 2013 7:45 AM CDT
Shutdown Deal Near? Tone Still Hopeful
More meetings today amid signs of progress
- So will the week end with a Capitol Hill deal to reopen the government and avoid a default, or at least set the stage for a weekend breakthrough? Signs of progress remain promising , but as Politico puts it, "there’s no one dancing in the West Wing end zone"...
Oct 8, 2013 7:51 AM CDT
Dems Put Forward Debt Limit Measure
Senators fear White House edging toward negotiations
- President Obama and Senate Democrats have put a long-term measure to raise the debt ceiling on the table. The legislation would boost the debt ceiling by $1 trillion, the
reports—though Dems say in order to avoid default, they might OK a short-term solution instead, even if it...
House GOP Mulls New Route to Avoiding Shutdown
Sep 26, 2013 5:01 AM CDT
House GOP Mulls New Route to Avoiding Shutdown
ObamaCare fight could be tied to debt-limit measure instead
- Now that the Senate has voted to open debate on a bill to fund the government, Harry Reid can remove its measures to defund ObamaCare before returning it to the House. But that doesn't mean the GOP is giving up on the fight. John Boehner could approve the bill,...
Lew: US Will
Hit Debt Ceiling
Aug 26, 2013 4:58 PM CDT
Lew: US Will Hit Debt Ceiling in October
Warns Congress it must act 'as soon as possible' to raise limit
- Treasury Secretary Jacob Lew has given Congress until mid-October to raise the debt ceiling. That's when he predicts the Treasury will run out of "extraordinary measures" to avoid going over the $16.7 trillion borrowing limit. In a letter to lawmakers today, Lew urged them to act "...
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