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May 23, 2023
The repercussions of a first-ever default on the US federal debt would quickly reverberate around the world. Experts say that no corner of the global economy would be spared
May 23, 2023
Joe Biden and his administration have been searching for ways to act unilaterally to avoid an economic ‘calamity’ if Congress can’t reach agreement to allow more borrowing. While some advocate using the 14th Amendment, the president has viewed the route as a problematic and untested legal theory
May 22, 2023
The US government aims to reach a budget compromise by 1 June. Republicans, led by Kevin McCarthy, demand spending cuts in exchange for raising the debt limit. While US president Joe Biden has joined the talks, he has urged GOP members to reconsider their extreme positions
May 10, 2023
Does Biden think he can twist this Civil War-era dough into a pretzel that would negate Congresss exclusive power to legislate an increase in the debt ceiling?