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Debt Ceiling

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Senate passes a short-term debt limit extension

The U.S. Senate passed a short-term extension of the debt ceiling on Thursday night. The bill allows the nation's borrowing limit to be increased by $480 billion, which the Treasury Department says will be enough to cover the country's debt obligations until December 3. CBS News political contributor and Washington Post White House reporter Sean Sullivan joins CBSN anchor Lana Zak to discuss what's next for this bill and what hurdles Congress needs to overcome to reach a long-term agreement.

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White House addresses debt ceiling concerns

Time is running out for Congress to raise the nation's debt ceiling. Democratic lawmakers are holding another procedural vote Wednesday afternoon. They hope to raise the debt limit and provide additional funding for government spending through December. However, Republicans are standing firm and promising to block any procedural votes moving forward. CBS News' Skyler Henry has more. Then White House council of economics adviser Heather Boushey joins CBSN to discuss the Biden administration's plans ahead of the October 18th debt ceiling deadline.

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