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.
National Debt
Biden unveils $6.9 trillion budget proposal
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.
White House claims GOP plans would add $3 trillion to national debt
President Biden claims GOP policies would add $3 trillion to the national debt.
Yellen describes "catastrophe" that will result if debt limit isn't raised
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.
Republicans boo Biden's debt limit comments
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.
U.S. hits debt limit, prompting "extraordinary measures" to avoid default
"I respectfully urge Congress to act promptly to protect the full faith and credit of the United States," Yellen wrote to congressional leaders.
U.S. to hit debt limit Thursday
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.
U.S. starts fiscal year with record $31 trillion in debt
Nation is edging closer to statutory debt ceiling of $31.4 trillion. "We are addicted to debt," one expert said.
U.S. troops to leave Afghanistan by August 31
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.
Biden says U.S. will pay down national debt for first time in 6 years
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 on raising debt ceiling
Senator Pat Toomey, R-Pennsylvania, joins "CBS Mornings" to discuss why Republicans won't support helping Democrats raise the debt ceiling.
House to vote on debt ceiling extension
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.
Congress at odds over how to avoid debt default
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.
Congress faces debt ceiling standoff
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.
Democrats finalizing $3.5 trillion spending bill
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.
Immigration plan blocked from spending bill
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.
Senate passes bipartisan infrastructure bill
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.
What's next for infrastructure 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.
Biden proposes $6 trillion budget
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.
Economists react to Biden's recovery plan
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.
Biden pushes for new COVID-19 relief plan
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.
Janet Yellen pushes for "big" federal action
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.
U.S. budget deficit hits highest level in 7 years
The surge is largely due to increased spending and revenue lost to GOP tax cuts
U.S. deficit will top $1 trillion next year, watchdog says
Over the next decade, the U.S. will spend about $1.2 trillion more than it takes in every year, CBO estimates
5 problems with a $22 trillion national debt
There's no precedent for debt this high during an economy this good, raising several troublesome issues
Trump promised to lower prices for Americans. Here's what the data shows.
Hurricane Isaias becomes Category 3 storm as it threatens northern Gulf Coast
Trump announces Russia will release millions of tons of diesel to help with costs
Pentagon's plan to livestream execution sparks intense backlash
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Iran's Houthi allies step up deadly attacks on Saudi Arabia
NYPD body camera footage shows aftermath of ICE agent shooting
Panama struck by 2 powerful earthquakes, U.S. Geological Survey says
Katie Zacharia is Trump's pick for next White House press secretary
