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The Senate approved legislation Tuesday to lift the nation's debt limit by $2.5 trillion under a deal struck between party leaders.
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Read More »Senate votes to raise debt limit by $2.5T, avoiding default
Senate avoids a debt disaster, votes to extend borrowing
The Senate has dodged a U.S. debt disaster, voting to extend the government’s borrowing authority into December and temporarily avert an unprecedented federal default.
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Read More »Senators reach agreement on short-term debt ceiling fix, averting crisis
Senate Majority Leader Chuck Schumer said an agreement has been reached with Republicans to extend the government’s borrowing authority into December, temporarily averting a debt crisis.
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Read More »McConnell offers Democrats short-term debt limit fix amid standoff
Senate Republican leader Mitch McConnell told Democrats he would allow an emergency debt limit extension into December, offering a potential path to avoid a federal default.
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Read More »Yellen says urgent action needed on debt limit, rejects $1T coin
Treasury Secretary Janet Yellen said Oct. 18 remains the date she is likely to run out of resources to stave off an unprecedented default on the nation's debt.
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Read More »Biden tells GOP to ‘get out of the way’ on debt limit with deadline approaching
President Joe Biden told GOP senators to “get out of the way” and let Democrats suspend the nation’s debt limit on their own, hoping to prevent a credit default.
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Read More »White House warns that debt limit showdown could hurt states
The White House is warning state and local governments about severe cuts to various programs if Congress fails to raise the U.S. debt limit.
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Read More »IMF: U.S. debt default would shake global economy
WASHINGTON — A U.S. debt default in the event that a politically divided Congress fails to raise the federal borrowing limit would imperil the entire global economic recovery, a senior International Monetary Fund official warned Wednesday. But Jose Vinals, the ...
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Read More »Government health and safety efforts slowed or halted
WASHINGTON — The government shutdown has slowed or halted federal efforts to protect Americans’ health and safety, from probes into the cause of transportation and workplace accidents to tracking the flu. The latest example: investigating an outbreak of salmonella in ...
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Read More »White House open to short-term hike in debt limit
WASHINGTON — Senate Democrats intend to introduce legislation by mid-week to raise the nation’s debt limit without the type of unrelated conditions Republicans have said they intend to seek, officials said Monday, as the White House signaled it would accept ...
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