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The Latest Breaking News from Janet Yellen

Biden says debt deal 'very close' even as two sides far apart on work requirements

Work requirements for federal food aid recipients have emerged as a final sticking point in negotiations over the looming debt crisis, even as President Joe Biden says a deal is “very close.”

The Independent UK

Four-day reprieve before US is officially bankrupt

Democrat and Republican negotiators have gained a few more days to reach a deal to raise the US government's $31.4 trillion debt ceiling, as Treasury

The New Daily

Where do things stand as the US rolls back debt ceiling deadline?

US Treasury Secretary Janet Yellen says the agency will run out of funds to meet financial obligations by June 5.

Al Jazeera

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US Treasury Secretary Janet Yellen pushes back forecast of potential US default date to June 5

US Treasury Secretary Janet Yellen says the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.

ABC News

X marks the spot: Yellen tells Congress US could run out of money to pay all its bills by June 5

Treasury Secretary Janet Yellen has told Congress that the U.S. could default on its debt obligations by June 5 if lawmakers do not act in time to raise the federal debt ceiling

The Independent UK

Yellen sets new deadline for Congress to raise the debt ceiling: June 5

Treasury Secretary Janet Yellen says unless lawmakers raise the debt ceiling by June 5, the government won't have enough money to pay all of its bills.

WEKU

U.S. will run out of money on June 5: Yellen

It's the most precise warning yet from the Treasury secretary.

Axios

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McCarthy, Biden close to deal — maybe

Biden and McCarthy may cut a deal before the weekend — but many Republicans and Democrats are likely to oppose it

Salon

Debt ceiling talks teeter on the brink, as lawmakers leave town for weekend without a deal

Lawmakers are not expected back in Washington until Tuesday, two days before Treasury Secretary Janet Yellen predicts the U.S. won’t have funds to pay its bills.

Chicago Sun-Times

What is 14th Amendment and can it resolve US debt ceiling fight?

President Biden says he could invoke constitution to order the Treasury to issue bonds and keep paying gov’t bills.

Al Jazeera

Threat of US credit downgrade looms over debt ceiling talks

With one of three major rating agencies warning that America’s AAA credit is at risk, the stakes are growing in the standoff in Washington over raising the nation’s debt limit

The Independent UK

Debt default 'X-date' calculations aim to figure out when the US may run short of cash

For all the concern over when the government might run out of money to cover all its bills, it turns out that no one can be absolutely sure exactly when the country faces a potential default — the dreaded “X-date.”

The Independent UK

What Exactly Is a "Default"?

The term gets thrown around loosely to refer to different concepts, but with very different implications.

Reason

5 things people get wrong about the debt ceiling saga

Did spending by President Biden and the Democrats rack up the country's debt? Is a default the same as a government shutdown? Here are answers to things people often get wrong about the debt ceiling.

WEKU

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The Independent UK

McCarthy's Republicans push debt ceiling talks to brink, lawmakers leaving town for weekend

House Republicans are pushing debt ceiling talks to the brink

Tribune News Service

McCarthy signals debt deal optimism as US is put on credit watch

WASHINGTON — House Speaker Kevin McCarthy’s optimism that White House and GOP negotiators would reach a deal in time to avert a potentially catastrophic default didn’t mollify analysts as the U.S. was put on a ratings watch late Wednesday.

Tribune News Service

McCarthy says GOP and White House ‘have time’ to reach debt deal

WASHINGTON — House Speaker Kevin McCarthy expressed optimism Wednesday that White House and GOP negotiators would reach a deal in time to avert a potentially catastrophic U.S. default.

Tribune News Service

GOP, Biden negotiators resume talks amid debt default impasse

WASHINGTON — Negotiators for the White House and House Republicans resumed talks on lifting the U.S. debt ceiling amid an impasse just days before a potentially catastrophic default, according to a person familiar with the matter.

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Kiplinger

Republican Tax Package Could Follow Debt Ceiling Deal

A debt ceiling agreement hasn’t been reached, but there’s talk that Republicans could soon propose a bill to address some key tax changes.

The Guardian - US

US lawmakers blame each other for debt ceiling standoff: ‘They are not negotiating’

Democrats and Republicans continue to trade pointed remarks, underscoring that agreement is not in reach to avoid default

Kiplinger

Debt Ceiling Crisis: What Did Stocks Do the Last Time the U.S. Nearly Defaulted?

Playing chicken with the debt ceiling has been bad for stocks in the past.

Fortune

One of the world’s best market watchers says there’s ‘zero chance’ the debt crisis isn’t resolved

Wharton professor Jeremy Siegel believes politicians will ultimately come to a compromise to “kick the can down the road” by extending the debt ceiling.

WEKU

Debt ceiling talks aren't going well. Here's where they stand

House Republicans insist there's a gulf between them and the White House on key areas on how to resolve the looming debt ceiling deadline.

The Independent UK

Just in case: Anxious retirees, social service groups among those making default contingency plans

Politicians in Washington may be offering assurance that the government will figure out a way to avert default, but around the country, economic anxiety is rising and some people already are adjusting their routines

The Independent UK

Marjorie Taylor Greene pays $100k for chapstick used by Kevin McCarthy

‘They doing this insane chapstick s*** while the country teeters on default. Wild,’ Ilhan Omar tweets

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