Tag Archives: budget deficits

[ad_1] CNN  —  Senate GOP leader Mitch McConnell has engineered ways out of a devastating debt default in the past. This time may be different – at least for now. Facing the riskiest debt ceiling standoff in a dozen years, Senate Republican leaders are planning to take a backseat role …

[ad_1] Editor’s Note: Julian Zelizer, a CNN political analyst, is a professor of history and public affairs at Princeton University. He is the author and editor of 25 books, including the New York Times best-seller, “Myth America: Historians Take on the Biggest Lies and Legends About Our Past” (Basic Books). …

[ad_1] CNN  —  Every American could get hurt if the new hardline Republican House’s dangerous game of roulette with a still vulnerable economy backfires. The nation reaches a first, critical threshold Thursday in the brewing Washington showdown over the national debt that could define the tenure of the new GOP …

[ad_1] CNN  —  The clock is now ticking on the nation’s debt ceiling drama. The US is expected to hit its borrowing cap as soon as Thursday, though it will not immediately start to default on its debt and set off a financial crisis. But it does mean that Congress …

[ad_1] CNN  —  The Treasury Department said Friday the US will reach the debt limit on January 19 and “extraordinary measures” will need to be taken, setting up one of the first major battles on Capitol Hill after Republicans took control of the House. The debt limit is the maximum …

[ad_1] A version of this story appeared in CNN’s What Matters newsletter. To get it in your inbox, sign up for free here. CNN  —  This is not the end of House Speaker Kevin McCarthy’s nightmare, rather just the beginning. Having won the coveted job, the California Republican has leveled …

[ad_1] CNN  —  The House and Senate are expected to pass a short-term extension to avert a shutdown, which would give negotiators more time to try to secure a broader full-year funding deal. Senate Majority Leader Chuck Schumer said on Monday that senators should be prepared to take “quick action” …

[ad_1] CNN  —  Lawmakers on Capitol Hill are scrambling to try to fund the government and pass a sweeping defense policy bill before a new Congress is sworn in, but there are signs that both sides have struggled to reach agreement over these key outstanding issues. Government funding expires at …

[ad_1] CNN  —  Michigan Democratic Sen. Debbie Stabenow has seen this before. Nearly a dozen years ago when Barack Obama was president, a newly emboldened House GOP majority came to power, promising to rein in the Democratic agenda, cut spending and investigate a White House they believed had run rampant. …

[ad_1] A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN Business  —  Tuesday’s midterm elections come at a time …