The U.S. has surpassed its $31.4 trillion debt limit, leading the Treasury Department to implement extraordinary measures.
Treasury Secretary Janet Yellen notified Congressional leadership Thursday morning that she would begin implementing stopgap options to keep the government funded and avoid default. However, she has stressed the measures can only be used for a limited amount of time, likely through June.
Yellen has said it’s critical Congress act in a timely manner, warning that failure to address the debt ceiling would cause irreparable harm to the U.S. economy.
"I respectfully urge Congress to act promptly to protect the full faith and credit of the United States," Yellen wrote in Thursday’s letter to congressional leaders.
Republicans, led by House Speaker Kevin McCarthy, are looking to use the additional time to negotiate with Democrats; they are hoping to cut spending in exchange for raising the debt ceiling. But, Democrats are so far refusing to make concessions.
"It is something that should be done without concessions. We should not be negotiating around it," White House Press Secretary Karine Jean-Pierre told reporters Wednesday. "It is the basic duty of Congress to get that done."
Vice President Kamala Harris has publicly declined Florida Gov. Ron DeSantis' invitation to debate new standards in Black history education in Florida.
The Justice Department's four-count indictment Tuesday accuses the former president of assaulting the underpinnings of democracy in a frantic but ultimately failed effort to cling to power.
Thousands of Marines backed by advanced U.S. fighter jets and warships are slowly building up a presence in the Persian Gulf. It’s a sign that while America’s wars in the region may be finished, its conflict with Iran over its advancing nuclear program continues to worsen, with no solutions in sight.
President Joe Biden has decided to keep U.S. Space Command headquarters in Colorado, overturning a last-ditch decision by the Trump administration to move it to Alabama. The choice ended months of thorny deliberations, but an Alabama lawmaker vowed to fight on.
Lawyers representing impeached Texas attorney general Ken Paxton filed motions with the state Senate seeking to dismiss most of the charges against him.
