McCarthy says House will take up bill to raise debt ceiling with spending cuts
The speaker is vowing to pass legislation to raise the nation's debt ceiling — but only coupled with a cap on future federal spending.
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The speaker is vowing to pass legislation to raise the nation's debt ceiling — but only coupled with a cap on future federal spending.
President Biden revealed his budget for the 2024 fiscal year that includes higher tax rates for corporations and the super-wealthy. He says the plan would cut the federal deficit by $3 trillion in 10 years, but it's not expected to pass Congress in its current form. CBS News chief White House correspondent Nancy Cordes explains how this budget will be used as a jumping-off point for debt ceiling negotiations.
President Biden claims GOP policies would add $3 trillion to the national debt.
The treasury secretary warned household payments on mortgages and auto loans would go up, and other payments to military families and seniors would not be made.
In his State of the Union address, President Biden urged Congress to raise the debt ceiling and noted that the national debt increased by a record amount under the Trump administration. He also said some Republicans "want Medicare and Social Security to sunset," prompting boos from Republicans in the chamber. Watch that portion of his speech.
"I respectfully urge Congress to act promptly to protect the full faith and credit of the United States," Yellen wrote to congressional leaders.
Treasury Secretary Janet Yellen says the U.S. will hit its debt limit of $31.4 trillion Thursday. CBS News congressional correspondent Scott MacFarlane joins the show to discuss what's being said on Capitol Hill about the looming debt ceiling crisis.
Nation is edging closer to statutory debt ceiling of $31.4 trillion. "We are addicted to debt," one expert said.
America's longest war is coming to an end, with President Biden announcing the withdrawal of U.S. troops from Afghanistan will conclude by August 31. CBS News senior White House and political correspondent Ed O'Keefe, Politico White House correspondent and associate editor Anita Kumar, and The Washington Post's Capitol Hill reporter Rhonda Colvin join CBSN's "Red & Blue" with more on the impact, as well as the latest push by Democrats to protect voting rights.
The president emphasized how strong job gains have increased total incomes and led to additional tax revenues that have improved the government's balance sheet.
Senator Pat Toomey, R-Pennsylvania, joins "CBS Mornings" to discuss why Republicans won't support helping Democrats raise the debt ceiling.
House lawmakers will vote Tuesday evening on legislation to raise the nation's debt ceiling. CBS News congressional correspondent Nikole Killion gives CBSN's Tanya Rivero an update on what's at stake.
President Biden is facing perhaps the most pivotal week of his presidency as Democrats seek to pass the main pillars of his legislative agenda while a government shutdown looms. Nikole Killion reports.
Congressional Democrats are pushing to raise the national debt ceiling before the government funding runs out at the end of the month. But Republicans say they will not support stopgap funding legislation. CBS News congressional correspondent Nikole Killion joins CBSN with the latest.
Lawmakers on Capitol Hill are working to push through their ongoing budget battle. Senate Democrats are finalizing the final text of their $3.5 trillion spending bill. But as CBS News' Skyler Henry reports, the Senate Parliamentarian delivered a blow to the party on its immigration plans. This comes as both House and Senate Democrats unveiled a spending measure to avoid a government shutdown coupled with a suspension to the national debt ceiling. Siobhan Hughes, a congressional reporter for The Wall Street Journal, joins CBSN's Elaine Quijano with more on how Republicans are reacting to the plan.
Senate Democrats hoped to include pathway to citizenship for millions of immigrants in their $3.5 trillion budget proposal, but the Senate parliamentarian ruled against it. CBS News congressional correspondent Nikole Killion joins CBSN AM with the latest on that plus the upcoming deadline for raising the debt ceiling.
A massive infrastructure bill passed in the Senate, with 19 Republicans joining every Democrat in voting for it. Kris Van Cleave has more on what's in the bill.
A total of 70 senators appear poised to carry a big bipartisan infrastructure package to passage, with lawmakers eager to tap new spending for their states and show voters back home they can deliver. Washington Post congressional reporter Rhonda Colvin joins CBSN's Anne-Marie Green and Vladimir Duthiers with analysis ahead of the much-anticipated vote.
President Biden is laying out his budget priorities to Congress with a $6 trillion proposal that would vastly expand social programs to help the neediest Americans. Maya MacGuineas of the Committee for a Responsible Federal Budget spoke with CBSN's Tanya Rivero about why she believes the national debt is a more important focus.
Republicans could soon vote on their tax plan after it cleared a key hurdle in the Senate. But at least four GOP senators have said they're concerned the bill will increase the deficit and add to the $20 trillion debt. President of the Committee for a Responsible Federal Budget, Maya MacGuineas, talks to CBSN about why increasing the deficit is such a concern.
President Biden's latest economic recovery proposal, the American Families Plan, would invest nearly $2 trillion dollars in education and child care, but some economists worry massive government spending could heat up the economy too quickly, causing inflation to soar. Washington Post economics correspondent Heather Long joins CBSN's "Red & Blue" anchor Elaine Quijano with the details.
President Biden is continuing to urge Republicans to endorse his new coronavirus relief plan. Republicans, however, are concerned about $1.9 trillion price tag. Christina Ruffini reports.
CBS News reporter Sarah Ewall-Wice joins CBSN's "Red & Blue" host Elaine Quijano to discuss the "big" actions Janet Yellen wants to see done by the Treasury Department if she is confirmed as secretary by the incoming Biden administration.
President Trump and Democratic congressional leaders have reached a bipartisan federal budget agreement. But while the deal prevents a government shutdown, some experts are raising concerns about increasing the national debt long-term. Maya MacGuineas, president of the Committee for a Responsible Federal Budget, joined CBSN to discuss the deal.
The surge is largely due to increased spending and revenue lost to GOP tax cuts
President Trump said Friday that three outlets would be banned from the White House, "effective immediately."
The U.S. military has escorted one billion barrels of oil and over 2,000 commercial vessels out of the Persian Gulf in the last couple of months, the Pentagon said.
In a Truth Social post, Mr. Trump called fears around artificial intelligence possibly becoming a superintelligence that could pose a threat to human existence a hoax.
President Trump announced he struck a deal to give the U.S. "permanent control over security, and all other needs, in Greenland.
Asked whether he feels like he failed in some way, Patrick Clancy told 60 Minutes he believes he did the best he could with the information he had at the time.
One Cuba resident said there is "no way to know" when power will be restored to the island nation.
The proposed sale is subject to congressional review.
The lawsuit argues the leading AI companies violated antitrust laws when they agreed to coordinate slowdown efforts.
A federal appeals court ruled Friday that U.S. immigration officials must offer detainees "a meaningful opportunity to contest" any deportation to countries where they have no ties.
In a Truth Social post, Mr. Trump called fears around artificial intelligence possibly becoming a superintelligence that could pose a threat to human existence a hoax.
The lawsuit argues the leading AI companies violated antitrust laws when they agreed to coordinate slowdown efforts.
President Trump said Friday that three outlets would be banned from the White House, "effective immediately."
One Cuba resident said there is "no way to know" when power will be restored to the island nation.
Wildfires have burned more than 8.5 million acres of land in the U.S. this year, and at the peak of the season, there weren't enough people or equipment to fight them.
The CEO of the world's largest chipmaker told CBS News that tech companies should proceed with artificial intelligence development despite recent warnings from worried industry leaders that there may be a need to pull back.
"It seems like we're trying to climb out of a hole somebody else is digging," said one frustrated house hunter as homeownership costs rise.
Employment fell last year in U.S. cities where ICE arrests surged, according to the Brookings Institution.
Cybersecurity researchers said they were able to use Anthropic's Claude AI platfom to penetrate ChatGPT in "less than 72 hours."
The manufacturer has received hundreds of reports of blankets "smoking, melting or burning" due to overheating, according to a recall notice.
In a Truth Social post, Mr. Trump called fears around artificial intelligence possibly becoming a superintelligence that could pose a threat to human existence a hoax.
President Trump said Friday that three outlets would be banned from the White House, "effective immediately."
President Trump announced he struck a deal to give the U.S. "permanent control over security, and all other needs, in Greenland, completely addressing ALL of our many U.S. concerns."
One Cuba resident said there is "no way to know" when power will be restored to the island nation.
The proposed sale is subject to congressional review.
Lisa Fasone's first pregnancy went smoothly. Then a rare health condition put her dreams of a second child on hold.
Health and Human Services Secretary Robert F. Kennedy Jr. spoke at a conference hosted by an organization he once led that has promoted doubts about vaccines.
The twins were born in Ethiopia with a rare condition that left them joined at the head. Doctors spent a year planning a separation surgery.
Porsha Williams revealed to "CBS Mornings" co-anchor Gayle King that she had to undergo an emergency partial hysterectomy this year after doctors discovered 21 uterine fibroids
Two-year-old conjoined twin sisters saw each other face-to-face for the first time after a successful 24-hour surgery to separate them. Ian Lee reports from the children's hospital in St. Louis, where it happened.
President Trump announced he struck a deal to give the U.S. "permanent control over security, and all other needs, in Greenland, completely addressing ALL of our many U.S. concerns."
One Cuba resident said there is "no way to know" when power will be restored to the island nation.
The proposed sale is subject to congressional review.
President Trump said he struck a deal to give the U.S. "permanent control over security" in Greenland following a push by the president to boost U.S. influence over the island — or take it over.
Brazilian police said they will reopen dozens of cases linked to a self-confessed serial killer who was arrested as he attempted to escape dressed as a woman and carrying a baby.
In his memoir, the Hollywood superagent and mogul writes of coming to blows in the competitive entertainment universe – and, in one instance, being sidelined by the business end of a truck.
President Trump bans some journalists from the White House, how Apple broke into retail, plus Tex-Mex barbecue on The Dish.
Latin superstar Juan Esteban, known as Juanes, has won 29 Grammys and sold out venues across the world. He joined Lilia Luciano to discuss his career, new work and giving back to his home country of Colombia in a time of great need.
Justus Kelley made history after she became the first married woman and the first mom to earn the Miss USA sash and crown. Kelley shares her experience with the iconic pageant and speaks about her philanthropic work.
"Rolling Stone" dubbed Texas-born singer-songwriter Bella Kay an artist you need to know. Her songs about alienation, heartache and survival have broken through to a massive audience, with hit song "The Sick" streaming over 220 million times. Her debut album, "My Reckless Abandon," is out now. Here's Bella Kay with "iloveitiloveitiloveit."
In a Truth Social post, Mr. Trump called fears around artificial intelligence possibly becoming a superintelligence that could pose a threat to human existence a hoax.
"What Not to Wear" stylist Stacy London and co-founder Ruth Foxe Blader share all about their new digital closet organizing service, Starmoire.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Ron Johnson, Apple's former senior vice president of retail, explains how the tech company welcomed physical shoppers in his book, "Shop Different: How Retail Revealed Apple's Genius."
More than 100 artificial intelligence experts have signed a public letter to express the need for independent AI safety evaluators. Princeton computer science professor Arvind Narayanan, who signed the letter, joins CBS News to discuss.
Neuroscientists at Stanford University successfully grew human brain tissue inside mice in the hopes of further enabling the development of treatments for brain disorders. Stanford Medicine professor of psychiatry and behavioral sciences Dr. Sergiu Pasca, who led the study, joins CBS News to break down the findings.
Scientists have discovered a new species of wild cat for the first time in more than a century, a Bolivian researcher says.
The footage shows a female humpback whale staying close to the dead calf as it lies motionless on the seafloor, touching it with its head and fin.
Archaeologists say they've discovered the remains of a likely ancient Egyptian warhorse given an honorific burial more than 3,000 years ago.
Artificial intelligence technology is developing at an "exponential" rate, Anthropic CEO Dario Amodei told CBS News, calling the situation a "warning sign" for the industry that requires serious safeguards.
In an exclusive interview airing Sunday on 60 Minutes, Patrick Clancy shares his side of the story, just weeks after his ex-wife Lindsay Clancy's murder trial ended without a verdict. Ross Douthat sat down with Patrick Clancy to discuss life after trauma and what lies ahead.
Asked whether he feels like he failed in some way, Patrick Clancy told 60 Minutes he believes he did the best he could with the information he had at the time. Watch more of the interview on 60 Minutes on Sunday.
The holdout juror in Lindsay Clancy's triple murder case has released a statement. Shanelle Kaul reports.
Brazilian police said they will reopen dozens of cases linked to a self-confessed serial killer who was arrested as he attempted to escape dressed as a woman and carrying a baby.
A Tennessee grandmother is suing the city of Fargo, North Dakota, after facial recognition software linked her to a crime she didn't commit, which led to a nearly six-month stay in jail. CBS News' Nicole Valdes has more.
Scientists have discovered a crater on the moon that's bigger than the Roman Colosseum, the result of a powerful impact two years ago.
NASA's Roman Space Telescope launched shortly after daybreak from Kennedy Space Center and blazed toward an observation point 1 million miles away.
The $4.3 billion telescope is expected to discover tens of thousands of exoplanets while probing the nature of mysterious dark matter and energy.
President Trump plans to award the Congressional Space Medal of Honor to the crew of NASA's Artemis II mission in a ceremony Aug. 28.
The mission to save NASA's sinking space telescope has been called off, dooming the telescope to a fiery reentry later this year.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Dolly Parton, the country music legend who became a feminist icon, has died at the age of 80. Here is a look back at her life in pictures.
Sylvie Cachay was found dead in an overflowing bathtub at the exclusive Soho House in New York City on Dec. 9, 2010. A water leak at the hotel gave away a timeline that may have revealed her killer.
Summer is the time to enjoy live music, indoors and out. Scroll through our gallery of some of 2026's leading musical acts, featuring images by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
The Obama Presidential Center, museum and library opens in Chicago with a star-studded grand opening ceremony and public watch party on Midway Plaisance.
President Trump bans some journalists from the White House, how Apple broke into retail, plus Tex-Mex barbecue on The Dish.
Chef and pitmaster Brandon Hurtado blends Texas tastes with Mexican American barbecue traditions at Hurtado BBQ.
"What Not to Wear" stylist Stacy London and co-founder Ruth Foxe Blader share all about their new digital closet organizing service, Starmoire.
Latin superstar Juan Esteban, known as Juanes, has won 29 Grammys and sold out venues across the world. He joined Lilia Luciano to discuss his career, new work and giving back to his home country of Colombia in a time of great need.
Ron Johnson, Apple's former senior vice president of retail, explains how the tech company welcomed physical shoppers in his book, "Shop Different: How Retail Revealed Apple's Genius."