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."
Turkey’s presidential elections appeared to be heading toward a second-round runoff on Monday, with President Recep Tayyip Erdogan, who has ruled his country with a firm grip for 20 years, leading over his chief challenger, but falling short of the votes needed for an outright win.
As the US braces for the what's the follow after the end of the Title 43 pandemic-related restrictions, experts discuss the ramifications with Cheddar News.
A man who kept a chokehold around the neck of an agitated fellow passenger in the New York City subway has turned himself in on a manslaughter charge.
New York State Senator John Liu spoke with Cheddar News about Asian-American representation in politics, his bill to make Asian-American history mandatory in schools, and the ongoing hate crimes against his community. State Sen. Liu also discussed the debate over student loan forgiveness and gave his take on artificial intelligence in education.
The Senate Banking Committee held a hearing Thursday on the cannabis bill the Secure and Fair Enforcement (SAFE) Banking — a first step toward what advocates hope will be a full vote on the Senate Floor.
New blood donations rules will allow sexually active gay and bisexual men in monogamous relationships to give in the FDA guidelines ease decades-old restrictions put in place to protect the blood supply from HIV.
During a contentious CNN town hall Wednesday night, former President Donald Trump dug in on his lies about the 2020 election, downplayed the violence on Jan. 6, 2021, and repeatedly insulted the woman whom a civil jury this week found him liable of sexually abusing and defaming.
Criminal defense attorney Tamara Holder joined Cheddar News to break down the charges that New York Republican Congressman George Santos is facing. "When the feds come after you -- and this is for anyone, a politician or not -- they generally have already built their case before they indict you," Holder said, regarding the timeline of Rep. Santos' arrest.
Officials in Missouri's largest city are moving to declare it a sanctuary for people seeking or providing gender-affirming care, defying state officials who are intent on banning it for minors and restricting it for adults.
The Biden administration on Thursday will begin denying asylum to migrants who arrive at the U.S.-Mexico border without first applying online or seeking protection in a country they passed through.
