Christian Beyer worked around the ground-shaking blasts of one of the Army’s most powerful weapons — the M1 Abrams tank — for 23 years. And for nearly all that time, he was a model soldier, given awards for meritorious service and promoted all the way up to master sergeant in charge of training young tank…
The agreement President Biden struck with House Republicans to raise the debt limit aims to avert a catastrophic default on the nation’s debt. But the brinkmanship that brought the United States within days of being unable to pay its bills has renewed calls for the Biden administration to stop the debt ceiling from continuing to…
Legislation to raise the government debt ceiling and set federal spending limits begins its obstacle-laden route through Congress on Tuesday with consideration by a crucial panel where it will face its first test, as congressional leaders rush to win passage before a default projected in less than a week. The House Rules Committee is typically…
A day after striking a deal in principle with President Biden to raise the debt limit, Speaker Kevin McCarthy and his leadership team began an all-out sales pitch on Sunday to rally Republicans behind a compromise that was drawing intense resistance from the hard right. To get the legislation through a fractious and closely divided…
President Biden is set to welcome Speaker Kevin McCarthy and other top congressional leaders to the White House on Tuesday for a pivotal round of discussions about the nation’s taxes, spending and debt as a potentially catastrophic government default rapidly approaches. The talks come just weeks before the United States is expected to run out…
A standoff between House Republicans and President Biden over raising the nation’s borrowing limit has administration officials debating what to do if the government runs out of cash to pay its bills, including one option that previous administrations had deemed unthinkable. That option is effectively a constitutional challenge to the debt limit. Under the theory,…
WASHINGTON — House Republican leaders pressed ahead on Wednesday with legislation to raise the debt ceiling while cutting spending and unraveling major elements of President Biden’s domestic agenda, opening debate on the bill even as they scrounged for support to pass it. The measure, which would cut federal spending by nearly 14 percent over a…
WASHINGTON — House Republican leaders on Wednesday unveiled their proposal to lift the debt ceiling for one year in exchange for spending cuts and policy changes, as they scrounged for the votes to pass the fiscal blueprint in an effort to bring President Biden to the negotiating table. Speaker Kevin McCarthy said in a speech…
WASHINGTON — Representative Kevin McCarthy of California finally secured the House speakership in a dramatic middle-of-the-night vote early Saturday, but the deal he struck to win over holdout Republicans also raised the risks of persistent political gridlock that could destabilize the American financial system. Economists, Wall Street analysts and political observers are warning that the…