The looming possibility of a national default has the White House and Congress in urgent talks, with little progress being made so far. The debt ceiling has been a contentious issue for months, and President Joe Biden had previously maintained that it was not a bargaining tool. However, recent negotiations with Republicans have seen the …
President Biden and House Speaker Kevin McCarthy have agreed in principle on raising the nation’s debt limit, but the final approval rests in Congress’ hands. The deal has already received pushback from both progressive Democrats and ultra-conservatives, and failure to secure votes from members of their own parties by the June 5 deadline could result …
As the US government approaches the brink of default with no agreement yet reached to lift its borrowing limit, an unusual voice of reassurance has emerged. Mitch McConnell, the longstanding Republican senate leader from Kentucky, recently told reporters that people need to remain calm as “the country will not default”. This statement is surprising given …