With a potential default just over a week away, the House speaker is maintaining pressure for a rollback in spending in exchange for raising the borrowing limit.
Tag: National Debt (US)
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Yellen Warns of Missed Payments if Debt Limit Is Not Lifted
The Treasury secretary said the Biden administration would face “very tough choices” if Congress did not act.
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The Civil War’s Lessons for Avoiding Default
President Lincoln and Republicans in Congress recognized that preserving America’s credit was the key to financing the Civil War, and therefore to the government’s survival.