Biden, McCarthy Confident That Debt-Crisis Deal Will Pass Through Congress

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A default would likely have catastrophic consequences. (File) Washington: US President Joe Biden and Republican leader Kevin McCarthy said they were confident Sunday of pushing a debt crisis deal through Congress and avoiding a cataclysmic default, despite skepticism from some lawmakers on both sides of the aisle. The tentative agreement reached Saturday after weeks of … Read more

Where do things stand as the US rolls back debt ceiling deadline? | Business and Economy News


The secretary of the United States Treasury, Janet Yellen, has said the government will run out of funds to cover its financial obligations by June 5 if the current spending limit of $31.4 trillion is not raised before then. Yellen’s announcement, which came in the form of a letter to the US Congress on Friday, … Read more