As the government heads toward a possible default on its debt as soon as next month, officials are entertaining a legal theory that previous administrations ruled out.
Tag: National Debt (US)
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U.S. Could Run Out of Cash by June 1, Yellen Warns
Janet L. Yellen, the Treasury secretary, called on Congress to raise or suspend the debt limit so the United States could continue paying its bills.
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Kevin McCarthy’s Debt Ceiling Dilemma
The looming crisis over the U.S. debt ceiling may soon require the House speaker to make a painful choice.
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Trickling Tax Revenue Complicates Debt Limit Talks
The Treasury Department’s ability to delay a default, the so-called X-date, hinges on how fast the money is coming in.
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How McCarthy Kept the Right Happy on a Debt Ceiling Bill
The speaker’s all-carrots, no-sticks approach of empowering hard-right Republicans carries risks, and any negotiation with President Biden on the debt ceiling is likely to test them.