The cap on how much the government can borrow has become a political football, but the consequences are very real.

President-elect Donald Trump said Thursday that Congress should get rid of the debt ceiling, a day after he and Elon Musk came out against a deal reached by congressional lawmakers to fund the ...

WASHINGTON -- While the concept of the debt ceiling might seem "in the weeds," it actually poses a very real threat to millions of Americans in a precarious economic period. If lawmakers on Capitol ...

WASHINGTON — Pushing to strike a debt ceiling deal, the Republican negotiating team headed Wednesday to the White House for more discussions with the sides still far apart. Time is short: There are ...

Biden had insisted on approving the debt ceiling with no strings attached, saying the U.S. always pays its bills and defaulting on debt is non-negotiable. But he launched negotiations after House ...

WASHINGTON - House Speaker Kevin McCarthy said Saturday that Republican negotiators were "closer to an agreement" that would resolve the looming debt crisis, but had not reached a deal with President ...

For someone who hates debt, Rep. Tim Burchett made a remarkable acknowledgment after voting this month for a massive bill that included a $5 trillion hike to the nation’s credit card limit. “I feel ...

WASHINGTON — House Speaker Kevin McCarthy said Thursday that "every hour matters" as his team scrambles to finalize a budget deal with the White House that would enable the government to avoid a ...