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McConnell Offers Short-Term Deal on Debt Ceiling

Democrats Say They'll
Take Deal on Debt Limit

UPDATED

Oct 6, 2021 5:50 PM CDT

Democrats Say They'll Take Deal on Debt Limit

Mitch McConnell offered short-term extension

(Newser) - Update: Both sides claimed victory Wednesday after Democratic senators agreed to accept Senate Minority Leader Mitch McConnell's offer of a short-term deal on raising the debt limit, Politico reports. After a closed-door caucus meeting, Senate Democrats said they were prepared to accept the Republican's offer of an emergency...

Under Quirky Law, We
Really Could Mint a $1T Coin

Oct 6, 2021 8:14 AM CDT

Under Quirky Law, We Really Could Mint a $1T Coin

'Gimmick' floated as one solution to the debt-ceiling impasse

(Newser) - Some politicians think they've found a silver bullet for the impasse over the debt limit, except the bullet is made of platinum: Mint a $1 trillion coin and use it to flood the treasury with cash. Even its serious proponents— Paul Krugman is one of them —call it...

Biden: Senate Filibuster Change a 'Real Possibility'

Biden Surprises Reporters
With Remark on Filibuster

Oct 5, 2021 7:56 PM CDT

Biden Surprises Reporters With Remark on Filibuster

He says rule change to raise debt limit is a 'real possibility'

(Newser) - To get around Republican obstruction, President Biden said Tuesday that Democrats are considering a change to the Senate's filibuster rules in order to quickly approve lifting the nation's debt limit and avoid what would be a devastating credit default. "It’s a real possibility," Biden told...

Biden Tells GOP to 'Get Out
of the Way' on Debt Limit

Oct 4, 2021 5:25 PM CDT

Biden Tells GOP to 'Get Out of the Way' on Debt Limit

McConnell says Dems must handle issue alone

(Newser) - President Biden on Monday urged Republican senators to “get out of the way” and let Democrats suspend the nation’s debt limit, hoping to keep the US government from bumping dangerously close to a credit default as Senate Republican Leader Mitch McConnell refuses to lend his party’s help....

Senate GOP
Thwarts Bill
to Avoid
Shutdown

Sep 27, 2021 7:50 PM CDT

Senate GOP Thwarts Bill to Avoid Shutdown

Republicans block Democrats in first round of a critical week

(Newser) - Republicans in the Senate thwarted a Democratic attempt to suspend the debt limit and head off a government shutdown on Monday night. The vote on a procedural measure to keep the legislative alive was along party lines, CNN reports, 48-50. Approval required 60 votes. Majority Leader Chuck Schumer switched his...

House Races to Vote on Bill to Avoid Shutdown

Shutdown Looms as House
Races to Vote on Funding Bill

Sep 21, 2021 5:56 PM CDT

Shutdown Looms as House Races to Vote on Funding Bill

Dems cut $1B in 'Iron Dome' funding

(Newser) - The House rushed headlong Tuesday into a vote on legislation to fund the government, suspend the federal debt limit, and provide disaster and refugee aid, forcing a showdown with Republicans who oppose the package despite the risk of a fiscal crisis. The federal government faces a shutdown if funding stops...

Government Will Run Out of Cash Sooner Than Expected

We Have $272B in Cash. It'll Be
Gone Sooner Than We Thought

Feb 1, 2018 7:17 AM CST

We Have $272B in Cash. It'll Be Gone Sooner Than We Thought

CBO says we'll hit debt limit earlier than expected

(Newser) - That the debt ceiling needs to be raised beyond its current level of $20.5 trillion isn't news; that it needs to be done by the first half of March is. The Congressional Budget Office on Wednesday drew the line in the sand there thanks to the new tax...

Coinciding
Deadlines
Mean a Risky
September

the rundown

Aug 24, 2017 1:48 PM CDT

Coinciding Deadlines Mean a Risky September

Debt ceiling could become 'entangled' with budget talks, raising fears of a US default

(Newser) - President Trump's public comments this week have made one thing crystal clear: September is going to be a very big month for the US. Congress faces a Sept. 30 deadline to pass a funding deal to avoid a shutdown, and Trump has thrown a wrench into things by demanding...

On Deck for
GOP in 2015:
A Long Series
of Showdowns

Jan 5, 2015 9:16 AM CST

On Deck for GOP in 2015: A Long Series of Showdowns

Republican leaders to face immigration, debt ceiling, Medicare issues

(Newser) - John Boehner and Mitch McConnell penned a Wall Street Journal editorial in November that promised they would prove wrong "the skeptics [who] say nothing will be accomplished in the next two years." But even with both House and Senate firmly under GOP control when Congress convenes tomorrow , the...

After Dicey
Vote, Senate
Clears Hike
in Debt Ceiling

Feb 12, 2014 3:03 PM CST

After Dicey Vote, Senate Clears Hike in Debt Ceiling

Ted Cruz forces McConnell, other Republicans into tough spot

(Newser) - After a dramatic Senate tally in which top GOP leaders cast the crucial votes, legislation to allow the government to borrow money to pay its bills cleared Congress today for President Obama's signature. The Senate approved the measure by a near party-line 55-43 vote. All of those "aye"...

Inside the Very Awkward End
to the Debt-Ceiling Wars

Feb 12, 2014 12:22 PM CST

Inside the Very Awkward End to the Debt-Ceiling Wars

Boehner made his announcement, and no one clapped

(Newser) - John Boehner ended the debt ceiling wars yesterday, but his fellow Republicans didn't exactly throw him a parade. The Washington Post today has an excruciatingly awkward account of how Boehner broke the news to his caucus at a private breakfast yesterday morning. "Listen—we're going to move...

End of an Era? House GOP
Skips Fight on Debt Cap

Feb 11, 2014 4:49 PM CST

End of an Era? House GOP Skips Fight on Debt Cap

Republicans allow ceiling to increase without strings

(Newser) - House Republicans backed away from a battle over the government's debt cap today and permitted Democrats to drive quick passage of a measure to increase the government's borrowing cap without any concessions from the White House. The 221-201 vote came hours after Speaker John Boehner announced that his...

Boehner Calls
No-Strings Vote
on Debt Ceiling

Feb 11, 2014 9:30 AM CST

Boehner Calls No-Strings Vote on Debt Ceiling

Boehner drops plan for military pension rider

(Newser) - With the clock ticking, House Republicans ditched their last attempt to tie a policy rider to the debt ceiling today. John Boehner told fellow Republicans that he would instead bring a "clean" bill to the floor, raising the debt ceiling without conditions, the Wall Street Journal reports. Yesterday, Boehner...

Lew on Debt Ceiling Showdown: Never Again

SUNDAY TALK SHOWS

Oct 20, 2013 9:11 AM CDT

Lew on Debt Ceiling Showdown: Never Again

'Cannot take a risk with the full faith and credit'

(Newser) - For lawmakers who might be getting used to last-minute debt ceiling showdowns, the country's Treasury secretary has a message: Not so fast, sunshine. "The message that we have to send going forward is that there was a turning point on Wednesday night and this won't happen again,...

The 7 Biggest
Shutdown Losers

Oct 17, 2013 7:36 AM CDT

The 7 Biggest Shutdown Losers

Hint: Most of them are Republicans

(Newser) - "There are no winners here," White House press secretary Jay Carney told reporters yesterday afternoon. This is because Jay Carney is not a political pundit who lives to declare winners in Washington dust-ups. But even taking Carney at his word about winners, there sure were a heck of...

It's Over: House Passes
Senate-Backed Deal

UPDATED

Oct 17, 2013 12:03 AM CDT

It's Over: House Passes Senate-Backed Deal

Obama signs bill: We need to stop 'governing by crisis'

(Newser) - Federal workers, prepare to rejoin the morning commute. The Senate tonight passed its bill to end the government shutdown and raise the debt ceiling by a vote of 81-18, the AP reports; the House backed the bill 285-144, just hours before the Treasury would have lost its authority to borrow...

Senate Deal
Announced

Oct 16, 2013 12:02 PM CDT

Senate Deal Announced

'This is far less than many of us had hoped for frankly,' McConnell says

(Newser) - Harry Reid and Mitch McConnell have reached a bipartisan deal to end the government shutdown and lift the debt ceiling, they announced in Senate floor speeches today. "This is far less than many of us had hoped for frankly," McConnell said. "But it's far better than...

Republicans,
Get This Over With

OPINION

Oct 16, 2013 10:33 AM CDT

Republicans, Get This Over With

'Wall Street Journal' doesn't think the GOP played this well

(Newser) - The Senate deal that should end the government shutdown and avoid a fiscal crisis isn't here a moment too soon for the Wall Street Journal . "Both sides are looking like losers," the paper's editors write in a scathing editorial today, but they heap most of their...

Senators Close to Deal,
But Do They Have Time?

Oct 16, 2013 8:00 AM CDT

Senators Close to Deal, But Do They Have Time?

Cruz, allies may try delay tactics

(Newser) - With the collapse of the House's attempt to end the shutdown and avoid a government default, the Senate is having another crack at it, but it is far from certain that it will be able to pass anything before the Treasury's borrowing power expires tomorrow and the government...

More Chaos: House Punts,
Senate Reopens Talks

Oct 15, 2013 7:05 PM CDT

More Chaos: House Punts, Senate Reopens Talks

Onus back on Reid, McConnell as Thursday deadline nears

(Newser) - Back to you, senators. House Republican efforts to pass legislation averting a Treasury default and ending a government shutdown collapsed tonight. Just hours after unveiling it, John Boehner and Republican leaders—apparently lacking votes from their own conservative rank-and-file—pulled the legislation. So now what? The Senate talks that were...