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."
Fernando Villavicencio, a candidate in Ecuador's upcoming presidential election, was shot and killed Wednesday at a political rally in Quito.
A man accused of threatening President Joe Biden was shot and killed by the FBI as they sought to serve a warrant for him in Utah.
The shooting happened around 6:15 a.m. as special agents tried to serve a warrant on the home of Craig Deleeuw Robertson in Provo, south of Salt Lake City.
President Joe Biden will make his case for bringing back factory jobs in the U.S. during a speech in New Mexico.
Fani Willis, the Fulton County District Attorney in Atlanta investigating Trump, is expected to present her case to a grand jury next week.
A U.S Navy sailor charged with passing sensitive information to China was encouraged to do so by his mother.
Ohio voters rejected a ballot measure that would make it harder to pass constitutional amendments, including an upcoming vote on abortion.
Mississippi Gov. Tate Reeves won the Republican nomination for a second term on Tuesday.
Fani Willis, the Fulton County District Attorney in Atlanta investigating Trump, is expected to present her case to a grand jury next week.
Former President Donald Trump spoke out against a potential protective order that would prevent him from disclosing evidence in the 2020 election case.
