For the first time in months, President Joe Biden and House Speaker Kevin McCarthy appear to be on the same page: The country cannot default on its debt and a compromise has to be reached to avert ...

WASHINGTON – President Joe Biden and House Speaker Kevin McCarthy reached an agreement in principle Saturday to raise the nation’s debt limit and cut government spending, capping a ...

This was always Biden's top priority. The president could not afford an economic disaster to unfold as a result of a default. The extension means Congress will not have to deal with the debt ...

President Biden and House Speaker Kevin McCarthy announced a deal to increase the government debt limit so the U.S. can avoid a default and economic turmoil.

House approves Biden-McCarthy debt ceiling, spending cap bill The House overwhelmingly approved the Fiscal Responsibility Act of 2023 Wednesday evening on a 314-117 vote. The bill now heads to the ...

The U.S. government was as few as 10 days away from running out of cash — and President Biden and House Speaker Kevin McCarthy still seemed to be getting nowhere. It was May 22, and the two men ...

Biden had not formally held a meeting with McCarthy since February, when the two last discussed the debt ceiling at the White House. McCarthy has signaled opposition to a short-term debt limit ...

President Joe Biden and top lawmakers agreed on Tuesday to further talks aimed at breaking a deadlock over raising the $31.4 trillion U.S. debt limit, with just three weeks before the country may ...

Staring down a fast-approaching deadline to raise the debt limit, they need to find some kind of common ground as they publicly jostle over the federal government's $31.4 trillion in debt.

Biden, McCarthy face serious time crunch to reach debt ceiling deal. The House and Senate are in session at the same time for just eight days in May.

The debt ceiling is the limit placed by Congress on the amount of debt the government can accrue. In order to pay its bills ...

President-elect Donald Trump railed against former House Speaker Kevin McCarthy's deal in 2023 to raise the government's debt limit, calling it "one of the dumbest political decisions made in years." ...