Speaking just moments before he left for a diplomatic trip overseas, President Biden said a default would be “catastrophic.”
Tag: McCarthy, Kevin (1965- )
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How to Use the Debt Ceiling to Inflict Cruelty on the Poor
Republicans have singled out low-income Americans, yet again, as a prime target in this year’s scheme over the debt limit.
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Biden and McCarthy Set for More Talks as Debt Ceiling Deadline Nears
Tuesday’s negotiations at the White House come a day after the Treasury Department reiterated that the government could run out of money to pay its bills by June 1.
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Debt Ceiling: Yellen Reiterates That U.S. Could Run Out of Cash by June 1
The latest warning to Congress came before another meeting on Tuesday between President Biden and Speaker Kevin McCarthy to resolve the debt ceiling crisis.
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Biden Expresses Optimism Over Debt Limit Deal, but an Agreement Remains Elusive
President Biden and congressional leaders will resume face-to-face talks on Tuesday to raise the debt limit and avoid default.