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."
The bodies of Russian mercenary chief Yevgeny Prigozhin and some of his top lieutenants killed in a Russian jet crash on Wednesday were sent to a nearby facility for medical and forensic analysis, according to Russian media.
Political strategist Jonathan Harris breaks down the highlights from Wednesday's first Republican presidential primary debate and how Former President Donald Trump's absence affected the event.
A scowling Donald Trump posed for a mug shot Thursday as he surrendered inside a jail in Atlanta on charges that he illegally schemed to overturn the 2020 election in Georgia, creating a historic and humbling visual underscoring the former president's escalating legal troubles.
Ramaswamy has crept up in recent polls, leading to his position next to Florida Gov. Ron DeSantis at center stage. He quickly took advantage of the spotlight, attacking the other candidates as "super PAC puppets" and drawing them into tit-for-tats that gave him more air time.
The former New York City mayor, charged as former President Donald Trump's chief co-conspirator in a plot to subvert the 2020 election, is charged with Trump and 17 other people under Georgia’s Racketeer Influenced and Corrupt Organizations Act.
The 4-1 ruling Wednesday departs from the court's own decision earlier this year to strike down a similar law from 2021.
A private jet crashed over Russia on Wednesday, killing all 10 people on board, emergency officials said.
Children’s advocacy groups including Fairplay and Common Sense Media are asking the Federal Trade Commission to investigate Google, saying the tech giant serves personalized ads to kids on YouTube despite federal law prohibiting the practice.
A Tennessee judge agreed Wednesday to temporarily block a new rule advanced by state House Republicans that banned the public from holding signs during floor and committee proceedings.
Former President Donald Trump is skipping tonight's GOP primary debate so what will the other candidates do? Political strategist Johnathan Harris weighs in.
