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."
Climate change is on trial in Montana. In a landmark case, 16 young people are suing the state over effects like smoke, heat, and drought. It's just the first in a series of cases intended to pressure lawmakers into taking action on the environment. Here with more is Cheddar News Senior Reporter Chloe Aiello.
President Joe Biden’s son Hunter will plead guilty to federal tax offenses and avoid prosecution on a separate gun charge in a deal with the Justice Department that likely spares him time behind bars.
A White House official said First lady Jill Biden is hosting a roundtable conversation on Tuesday that will bring together women who have been denied medical care since the overturning of Roe v. Wade last year.
Former president Donald Trump told Fox News' Bret Baier said on Monday that he did not show classified documents to anyone else after his term.
President Joe Biden will convene a group of technology leaders on Tuesday to debate artificial intelligence.
More than 1 million people have been dropped from Medicaid in the past couple of months as some states moved swiftly to halt healthcare coverage following the end of the coronavirus pandemic.
Thousands of Iraqis, many of whom risked their lives by working closely with Americans during the war and its aftermath, are trying to enter the U.S.
U.S. Secretary of State Antony Blinken met on Monday with Chinese President Xi Jinping and said they agreed to “stabilize” badly deteriorated U.S.-China ties, but America’s top diplomat left Beijing with his biggest ask rebuffed: better communications between their militaries.
The Massachusetts Air National Guardsman accused of leaking highly classified military documents has been indicted on federal felony charges, the Justice Department said Thursday.
President Joe Biden highlighted progress in chipping away at so-called junk fees as a “win for consumers” Thursday, as he met at the White House with executives from Live Nation, Airbnb and other companies that have taken steps to embrace more transparent pricing.
