Biden will threaten Social Security and Medicare and 'bumble into the first default in our nation's history' if he doesn't negotiate raising the debt ceiling with Republicans, Kevin McCarthy says

Tech Insider : Economy, Politics
Kevin McCarthy
House Speaker Kevin McCarthy holds the speaker's gavel high after winning election as speaker of the House early Saturday morning.

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Republicans reportedly want to ban student loan forgiveness and make it harder to get food stamps in a debt ceiling deal — and they seem to want to do it all over again next year

Tech Insider : Economy, Politics
Kevin McCarthy
House Minority Leader Kevin McCarthy (R-CA) receives applause from fellow Representatives at the start of the 118th Congress on January 3, 2023.

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Kevin McCarthy says he's 'very concerned' he won't reach a deal to raise the debt ceiling because Biden 'never wants to meet'

Tech Insider : Economy, Politics
Biden and Kevin McCarthy
US President Joe Biden and Speaker of the House Kevin McCarthy.

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A US debt crisis will arrive sooner as banking turmoil hits the economy and federal revenue, strategist says

Tech Insider
President Joe Biden gestures as he delivers the State of the Union address to a joint session of Congress at the U.S. Capitol, Tuesday, Feb. 7, 2023, in Washington, as Vice President Kamala Harris and House Speaker Kevin McCarthy of California, watch.
President Joe Biden, Vice President Kamala Harris and House Speaker Kevin McCarthy.

Jacquelyn Martin, Pool/AP

Americans could lose $20,000 in retirement savings and private student-loan borrowers could see their payments surge if Republicans don't raise the debt ceiling, a new report says

Tech Insider : Economy, Politics
Chuck Schumer
U.S. Senate Majority Leader Sen. Chuck Schumer (D-NY) speaks during a news briefing after the weekly Senate Democratic Policy Luncheon at the U.S. Capitol June 22, 2021 in Washington, DC.

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Republicans' plans to cut the budget could mean millions lost in back pay, more dangerous workplaces, and jobs sent overseas, the White House says

Tech Insider : Economy, Politics
President Joe Biden
US President Joe Biden.

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5 ways House Republicans' budget plan 'will be a disaster for families,' according to the White House

Tech Insider : Economy, Politics
House Freedom Caucus Holds News Conference On Biden Administration's Performance
Rep. Scott Perry (R-PA) speaks during a news conference with members of the House Freedom Caucus outside the U.S. Capitol on February 28, 2022 in Washington, DC.

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Millions of student-loan borrowers will experience 'devastating' delays in debt relief if a GOP proposal to cut spending goes through, Biden's Education Secretary says

Tech Insider : Economy, Politics
President Joe Biden and Education Secretary Miguel Cardona
U.S. President Joe Biden, joined by Education Secretary Miguel Cardona, speaks on student loan debt in the Roosevelt Room of the White House August 24, 2022 in Washington, DC.

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Marjorie Taylor Greene adds defunding ongoing DOJ Trump investigations to list of hard-right demands to avoid fiscal crisis

Tech Insider : Politics
Republican Rep. Marjorie Taylor Greene of Georgia outside the Capitol in January 2023.
Republican Rep. Marjorie Taylor Greene of Georgia outside the Capitol in January 2023.

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Republicans are preparing to let some bills go unpaid as the debt ceiling crisis looms. Janet Yellen says their plan is just 'default by another name.'

Tech Insider : Economy, Politics
Janet Yellen
Treasury Secretary Janet Yellen.

AP Photo/Patrick Semansky, File

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