The U.S. has surpassed its $31.4 trillion debt limit, leading the Treasury Department to implement extraordinary measures.
Treasury Secretary Janet Yellen notified Congressional leadership Thursday morning that she would begin implementing stopgap options to keep the government funded and avoid default. However, she has stressed the measures can only be used for a limited amount of time, likely through June.
Yellen has said it’s critical Congress act in a timely manner, warning that failure to address the debt ceiling would cause irreparable harm to the U.S. economy.
"I respectfully urge Congress to act promptly to protect the full faith and credit of the United States," Yellen wrote in Thursday’s letter to congressional leaders.
Republicans, led by House Speaker Kevin McCarthy, are looking to use the additional time to negotiate with Democrats; they are hoping to cut spending in exchange for raising the debt ceiling. But, Democrats are so far refusing to make concessions.
"It is something that should be done without concessions. We should not be negotiating around it," White House Press Secretary Karine Jean-Pierre told reporters Wednesday. "It is the basic duty of Congress to get that done."
President Joe Biden ordered the United States military to carry out retaliatory airstrikes against Iranian-backed militia groups after three U.S. service members were injured in a drone attack in northern Iraq.
Donald Trump's lawyers are telling a federal appeals court that he was acting within his role as president when he pressed claims about “alleged fraud and irregularity” in the 2020 election.
The Supreme Court says it will not immediately take up a plea by special counsel Jack Smith to rule on whether former President Donald Trump can be prosecuted for his actions to overturn the 2020 election results.
A Congressional oversight committee has opened an investigation into the safety of an Osprey aircraft, weeks after a deadly crash off the coast of Japan that killed eight airmen.
Florida Gov. and presidential hopeful Ron Desantis says that he thinks the Republican primary would be different if former president Donald Trump wasn't indicted.
A judge ordered former Trump attorney Rudy Giuliani immediately to start paying the judgment against him for the former Georgia election workers that he defamed.
