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The high-stakes battle over the debt ceiling in Washington is spilling over into financial markets. Stock values have whipsawed and bond yields have spiked in recent weeks as Wall Street becomes increasingly fearful of a federal default. Experts say the damage could be minor and ultimately reversible if lawmakers can avert a default. But the…
A group of Democratic senators led by Sen. Tina Smith (Minn.) are circulating a letter urging President Biden to invoke his constitutional authority under the 14th Amendment to raise the nation’s debt limit without having to pass legislation through Congress. These senators say the spending reforms that Speaker Kevin McCarthy (R-Calif.) has demanded in exchange…
Prices have cooled in the once red-hot housing market, but competition is heating up between two generations in seemingly perpetual conflict. Millennials entering their prime homebuying years and baby boomers — many of whom are nearing retirement age — are vying for the same homes. A look ahead: Fed hikes and default fears: Here’s what…
House Intelligence Committee Chairman Mike Turner (R-Ohio) and House Judiciary Committee Chairman Jim Jordan (R-Ohio) are warning the CIA they could subpoena the agency if it does not produce documents related to a 2020 letter pushing back on the Hunter Biden laptop story. “If the CIA does not produce all responsive documents, the Committees may…
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The GOP-controlled North Carolina General Assembly on Tuesday evening overrode a veto from the governor on a bill that prohibits abortions after 12 weeks and imposes more restrictions on providers and patients. The lower chamber’s vote came after the state Senate voted to override the veto earlier Tuesday. Gov. Roy Cooper (D) had vetoed the…
State Attorney General Daniel Cameron (R), who’s backed by former President Trump, is projected to win Kentucky’s GOP gubernatorial primary, according to The Associated Press. Cameron’s toughest opponents in the crowded GOP field were former U.N. Ambassador Kelly Craft and Agriculture Commissioner Ryan Quarles. He was widely seen as the front-runner in the race and…
The endorsement battle between Florida Gov. Ron DeSantis and former President Donald Trump is reaching a boiling point. Never Back Down, the main super PAC backing DeSantis for the 2024 Republican presidential nod, rolled out a list of endorsements from more than 50 New Hampshire state lawmakers on Tuesday, including four who previously announced their…
The head of the House Democrats said this week that tougher work requirements for social benefits won’t fly with members of his caucus, setting the stage for a drag-out fight with GOP leaders who are insisting on those provisions as a condition of raising the debt ceiling. House Minority Leader Hakeem Jeffries (D-N.Y.) on Monday…
Treasury Department Secretary Janet Yellen warned Tuesday that “time is running out” for Congress to lift the debt ceiling and avert a default on the nation’s debt, which the secretary says would be catastrophic for the economy. “Time is running out. Every single day that Congress does not act, we are experiencing increased economic costs…