Debt Ceiling

In fallout from the debt ceiling deal, Speaker Kevin McCarthy is suddenly confronting a new threat to his power as angry hard-right conservatives bring the House chamber to a halt, reviving their displeasure over the compromise struck with President Joe Biden and demanding deeper spending cuts ahead.

The U.S. Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the bipartisan deal and send it to President Joe Biden's desk to become law before the fast-approaching deadline that would have left the U.S. unable to pay its bills.

The president's signature came hours after he outlined the economic stakes that leaders faced and declared that a crisis had been averted.

President Joe Biden planned to discuss the contentious, just-passed budget deal in a speech to the nation Friday night, ready to sign the agreement averting the country’s first-ever government default, which would have sent shock waves through the U.S. and global economies.

Fending off a U.S. default, the Senate gave final approval late Thursday to a debt ceiling and budget cuts package, grinding into the night to wrap up work on the bipartisan deal and send it to President Joe Biden’s desk to become law before the fast-approaching deadline.

Veering away from a default crisis, the House approved a debt ceiling and budget cuts package late Wednesday, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans against fierce conservative blowback and progressive dissent.

A key test will come Tuesday afternoon when the House Rules Committee is scheduled to consider the package and vote on sending it to the full House for a vote expected Wednesday.

An “agreement in principle” between President Joe Biden and House Speaker Kevin McCarthy would raise the nation’s legal debt ceiling, but now Congress has only days to approve a package that includes spending cuts and would avert a potentially disastrous U.S. default.

Tuesday marked the fifteenth day of the partial government shutdown that has furloughed many federal workers and closed federal parks. And former Florida…

The government has been partially shut down since midnight Tuesday due to the inability of Congress to reach a budget agreement. Tea Party Republicans in…