Members of the House on Tuesday pushed through a short-term increase to the nation’s debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting an unprecedented default that would have decimated the economy. The $480 billion increase in the country’s borrowing ceiling cleared the Senate last week on
Republican and Democratic leaders edged back Wednesday from a perilous standoff over lifting the nation’s borrowing cap, with Democratic senators signaling they were receptive to an offer from Senate GOP leader Mitch McConnell that would allow an emergency extension into December. McConnell made the offer shortly before Republicans were prepared to block legislation to suspend
President Joe 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 U.S. government from bumping dangerously close to a credit default as Senate Republican Leader Mitch McConnell refuses to lend his party’s help. Biden’s criticism came with Congress facing an
Senate Minority Leader Mitch McConnell, R-Ky., joined by GOP leaders, talks to reporters briefly to warn that Republicans will block the House-passed measure to keep the government funded and suspend the federal debt limit despite setting up a high-stakes showdown that will risk of triggering a fiscal crisis, at the Capitol in Washington, Wednesday, Sept.