Tag Archives: debt ceiling

CBS News reports: The resolution introduced in the Senate on Tuesday to raise the debt limit by $2.5 trillion passed along party lines, 50 to 49. Senate Majority Leader Charles Schumer said this would mean Congress won’t have to fight about raising the debt limit again until 2023 — beyond the midterm elections. The legislation headed to the House of …

CNBC reports: Congressional Democrats moved toward raising the debt ceiling Tuesday, one day before the Dec. 15 deadline that Treasury Secretary Janet Yellen warned could mark the start of the first-ever U.S. default. The effort began in the Senate, which passed a debt limit hike late Tuesday afternoon in a 50-49 party-line vote. The bill will go to the House, …

The Hill reports: Fourteen Senate Republicans on Thursday helped advance a deal negotiated by Senate Minority Leader Mitch McConnell (R-Ky.) to set up a one-time exemption to the filibuster on raising the debt ceiling. Senators voted 64-36 to close debate on the bill, which also prevents automatic cuts faced by physicians and other medical providers under Medicare from taking effect. …

The New York Times reports: The House approved legislation on Tuesday that would pave the way for a swift increase in the debt ceiling amid a Republican blockade, after congressional leaders in both parties agreed to try an unusual maneuver that could avert the threat of a first-ever federal default. The 222-to-212 vote came after days of quiet bipartisan talks …

The Washington Post reports: Senate Minority Leader Mitch McConnell (R-Ky.) on Friday vowed that Republicans will not offer any more assistance to raise the nation’s debt ceiling. In a letter sent to President Biden, McConnell made clear he would be willing to allow the United States to default on its national debt rather than work with Democrats. The letter came …

NPR reports: The Senate has passed a bill to increase the federal debt ceiling, after weeks of tense cross-aisle negotiations regarding the looming threat of the country defaulting on its debt. The legislation was approved Thursday night along party lines, with a simple majority. An earlier procedural vote required Republicans to get to 60 votes. It got 61. House approval …

ABC News reports: Senate Minority Leader Mitch McConnell blinked after a three-month stalemate with Democrats. Democrats appear to have taken a deal that many in the caucus acknowledge is little more than kicking the can down the road. But as aides and members have made clear to over the course of the last 15 hours, what other choice was there? …

The Hill reports: Senate GOP Leader Mitch McConnell (Ky.) blocked an effort by Majority Leader Charles Schumer (D-N.Y.) to bypass the 60-vote legislative filibuster on a debt ceiling hike. Schumer tried to get an agreement to set up a simple majority vote on a bill to suspend the nation’s borrowing limit, which would bypass the filibuster and let Democrats raise …

The debt ceiling kerfuffle has prompted the BBC to post several economic comparison charts. Taken out of context, the numbers are staggering. The US has a total debt pile of almost $17 trillion (£10.6 trillion), which is expected to rise to almost $23tn in the next five years. Japan is not far behind, with current debts totalling $11.5tn. By any …

John Boehner: We want to offer temporary relief from debt ceiling for chance to sit down and hammer out long-term deal — Yahoo (@Yahoo) October 10, 2013 JUST IN: House Republican leaders offer temporary increase in the debt ceiling pic.twitter.com/pVnlRES2Mf — NBC Nightly News (@nbcnightlynews) October 10, 2013