Commentary Last week’s struggle in the House of Representatives to select Kevin McCarthy (R-Calif.) as speaker of the House is probably the most contentious House battle most of us will see in our lifetimes. But there is another one coming that is far more important: the battle over the debt ceiling, which will be looming…
The Big House Fight to Come Will Be the Debt Ceiling
January 10, 2023
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Talks Continue on McConnell’s Debt Ceiling Offer to Cover Existing Expenses Until December
Talks between Senate party leaders on a deal to temporarily raise the debt ceiling by a fixed dollar amount have spilled over into Thursday, Senate Majority Leader Chuck Schumer (D-N.Y.) told reporters early Thursday morning from the Senate floor. Several Democrats had indicated support of the offer from Senate Minority Leader Mitch McConnell (R-Ky.) that would let…
Schumer Says Talks Continue on McConnell’s Debt Ceiling Offer to Cover Expenses Until December
Talks between Senate party leaders on a deal to temporarily raise the debt ceiling by a fixed dollar amount have spilled over into Thursday, Senate Majority Leader Chuck Schumer (D-N.Y.) told reporters early Thursday morning from the Senate floor. Several Democrats had indicated support of the offer from Senate Minority Leader Mitch McConnell (R-Ky.) that would let…
Over 100 GOP US House Members Declare They Will Not Vote to Raise Debt Ceiling
Over 100 House Republican members declared that they will not raise the debt ceiling in a letter written to the American people, adding that it is Democrats who should take responsibility for making the change to the debt limit because of their continued “spending spree.” “Democrats have embarked on a massive and unprecedented deficit spending…
Treasury Secretary Urges Congress to Raise Debt Ceiling Through ‘Regular Order’
Treasury Secretary Janet Yellen urged Congress on Monday to raise the debt ceiling through “regular order,” as Senate Democrats get ready to pass the $1.2 trillion bipartisan infrastructure bill this week and introduce their $3.5 trillion spending package but neither bill addresses increasing the debt ceiling. The debt suspension expired at the end of July…
Treasury Secretary: ‘Extraordinary Measures’ to Be Taken If Congress Doesn’t Raise Debt Limit
Treasury Secretary Janet Yellen on Friday urged congressional leaders to suspend or raise the national debt limit before Aug. 1. or face dire economic consequences. Yellen warned that if Congress does not take action, her department will need to implement “extraordinary measures” to prevent the government from defaulting on its loans. “If Congress has not acted to suspend or…
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