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Senate Democrats are urging President Biden to use the 14th Amendment to raise the debt ceiling, arguing it is in his constitutional authority to take the unilateral step to prevent a GOP-driven default. They say Biden should not agree to GOP demands for major concessions on spending cuts to raise the debt ceiling, and that…
The debt ceiling fight gripping Washington this month bears echoes of a similar clash in 2011, when a Democratic president squared off against a Republican House in a fight that dragged on for months, pushed the country to the brink of default and led to the first credit downgrade in U.S. history. Except this time…
Homebuyers and renters alike could feel relief later this year as home prices stabilize, mortgage rates decline and rent price growth continues to slow. Economists expect the Federal Reserve to pause rate hikes for a time while it observes incoming economic data, some stemming from the banking crisis that led to tightened lending. This could…
Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy. Direct to your inbox. Sign up for the Morning Report newsletter The…
Senate Republicans are disavowing former President Trump’s call to let the federal government default on its debts unless President Biden agrees to “massive” spending cuts, dismissing Trump’s suggestion as something far too risky to seriously consider. The cold reception to Trump’s bold statement is the latest sign of the widening rift between Trump and his party’s Washington…
Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy. Direct to your inbox. Sign up for the Morning Report newsletter President…
President Biden on Tuesday said he has been looking at the 14th Amendment as a way to unilaterally work around the debt ceiling, though he acknowledged it will not be a viable short-term solution with the nation on track to default without congressional action by June. “I have been considering the 14th Amendment, and the…
Speaker Kevin McCarthy (R-Calif.) on Tuesday shot down the idea of moving a short-term debt ceiling hike to prevent a government default. Just hours before McCarthy is scheduled to meet with President Biden on the issue, the Speaker said the sides should come together to negotiate a compromise — combining a debt ceiling increase with sharp…
Editor’s note: The Hill’s Morning Report is our daily newsletter that dives deep into Washington’s agenda. To subscribe, click here or fill out the box below. Close Thank you for signing up! Subscribe to more newsletters here The latest in politics and policy. Direct to your inbox. Sign up for the Morning Report newsletter A…
The partisan standoff over the debt limit, which hardened over the weekend when 43 Senate Republicans said they would not support a clean debt-limit increase, sets the stage for severe turbulence in the financial markets, experts warn. The yield on Treasury bonds maturing next month spiked last week, signaling that investors are already preparing for…