Debt Ceiling

Bipartisan lawmakers preparing plan to avert debt ceiling crisis

/ Politics

A bipartisan group of U.S. lawmakers is preparing a plan to defuse a looming crisis over the nation’s debt ceiling by changing it from a fixed dollar amount a percentage of national economic output, the group’s top Republican said on Sunday. The proposal would replace Washington’s current federal debt ceiling – currently set at $31.4 […]

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Q&A: The Debt Ceiling, Explained

/ Politics

An expected showdown between President Joe Biden’s Democrats and a newly minted Republican majority in the U.S. House of Representatives over the debt ceiling is threatening to push Washington to the brink of a debt crisis. WHAT’S THE DEBT CEILING? Washington regularly sets a limit on federal borrowing. Currently, the ceiling is set at $31.4

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