Staying below the $14.3 trillion ceiling would require spending cuts or tax increases that are far greater than leaders of either party are... Every day, the federal government spends more money than ...

President-elect Donald Trump on Wednesday rejected Congress' bipartisan plan that would have temporarily funded the government and dodged a serious shutdown that could begin on Friday night. But Trump ...

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 ...

As it stands the debt limit is 31.4 trillion dollars, which is more money than, say, the GDP of Ethiopia.

Melissa Quinn is a senior reporter for CBSNews.com, where she covers U.S. politics, with a focus on the Supreme Court and federal courts. In a statement Wednesday, Trump and Vance lambasted the ...