Us Default

US debt ceiling crisis: What a default could mean for America, the world

A US default looms large as Republicans and Democrats spar over raising the government’s spending limits. It has forced Joe Biden to cancel his upcoming trip to Australia, resulting in the Quad Summit with leaders from India, Australia and Japan being called off

US debt ceiling: What's the 14th Amendment Biden is considering?

US president Joe Biden has been considering the ‘14th Amendment’ option to avert a debt ceiling crisis, as the deadline to resolve an impasse on lifting the borrowing limit fast approaches. There could be legal challenges if the 14th Amendment is invoked, but not doing so poses risks too

'Kumbaya moment or economic chaos?' How the US debt limit standoff might end

House Speaker Kevin McCarthy said the US would not default. But he is still linking that issue directly to spending cuts in a way that Joe Biden wants to avoid. His debt limit bill would reverse discretionary spending to 2022 levels, then place a one per cent cap on increases going forward

US debt deal: What will happen if the debt ceiling is not raised?

Washington faces the risk of a federal government default if the debt ceiling isn't raised. In order to avoid such a situation, President Joe Biden has invited top four congressional leaders to a White House meeting on 9 May

World Bank chief warns US default threat hurts poorest

Jim also said the World Bank plans to halve extreme poverty by 2020, an interim goal as the bank seeks to fulfill its poverty-fighting targets.

Obama pressures Boehner to help avoid default, reopening federal govt

President Barack Obama was pressuring John Boehner, the top Republican in Congress, to hold votes to avoid a potentially catastrophic default and re-open the federal government