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The Latest Breaking News from Janet Yellen

NZ's beef with critical US debt ceiling debate

Exporters are nervously watching a key vote in the US Congress that will determine whether the world's biggest economy defaults on its debts. Jonathan Milne reports.

Newsroom.co.nz

Where the debt ceiling debate hits you at home and in the bank

It’s not just another case of political bickering, as money Americans get from a wide range of programs is at stake.

Chicago Sun-Times

US debt limit deal: How we got here

Bipartisan deal to raise debt ceiling and avoid ‘disastrous’ default heads to US Congress after weeks-long impasse.

Al Jazeera

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US debt ceiling deal: what has to happen now to get it passed?

Lawmakers are scrambling to push through Biden-McCarthy deal by 5 June to avoid default disaster – what is the process?

The Guardian - US

Debt ceiling negotiators reach a deal: 5 essential reads about the tentative accord, brinkmanship and the danger of default

President Joe Biden and House Speaker Kevin McCarthy on May 27, 2023, agreed in principle to a tentative deal that would raise the debt ceiling while capping some federal spending at current levels.

The Conversation

Biden, GOP reach debt-ceiling deal, now Congress must approve it to prevent calamitous default

President Joe Biden and House Speaker Kevin McCarthy have reached an “agreement in principle” to resolve the looming debt crisis

The Independent UK

Biden, GOP reach tentative deal to raise debt ceiling, avoid calamitous US default

With the outlines of a deal in place, the legislative package could be drafted and shared with lawmakers in time for votes early next week in the House and later in the Senate.

Chicago Sun-Times

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Debt ceiling deal reached between Biden and McCarthy

Tentative deal will avert a worldwide financial catastrophe

The Independent UK

Russ Vought: GOP's far-right mastermind

How onetime budget wonk Russ Vought joined the culture war — and built a strategic plan for conservatives in exile

Salon

Sen. Kyrsten Sinema enters debt ceiling talks to try to resolve split on energy permitting

Her late entrance signals that negotiators are exploring new ways to solve thorny issues.

Axios

Democratic veterans from 2 decades of budget wars say the national debt isn't worth holding the U.S. and global economy 'hostage'

"If the future is what you care about, then doing things that hurt the future doesn't make sense.”

Fortune

Biden says US debt deal 'very close' as default deadline set at June 5

Work requirements for federal food aid recipients have emerged as a final sticking point in negotiations over the looming debt crisis, even as President Joe Biden said Friday that a deal is “very close.”

France 24

Biden says debt deal 'very close' even as two sides far apart on work requirements

Work requirements for federal food aid recipients have emerged as a final sticking point in negotiations over the looming debt crisis, even as President Joe Biden says a deal is “very close.”

The Independent UK

Four-day reprieve before US is officially bankrupt

Democrat and Republican negotiators have gained a few more days to reach a deal to raise the US government's $31.4 trillion debt ceiling, as Treasury

The New Daily

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Al Jazeera

Where do things stand as the US rolls back debt ceiling deadline?

US Treasury Secretary Janet Yellen says the agency will run out of funds to meet financial obligations by June 5.

ABC News

US Treasury Secretary Janet Yellen pushes back forecast of potential US default date to June 5

US Treasury Secretary Janet Yellen says the projected debt ceiling deadline is extended to June 5, four days later than previously estimated.

The Independent UK

X marks the spot: Yellen tells Congress US could run out of money to pay all its bills by June 5

Treasury Secretary Janet Yellen has told Congress that the U.S. could default on its debt obligations by June 5 if lawmakers do not act in time to raise the federal debt ceiling

WEKU

Yellen sets new deadline for Congress to raise the debt ceiling: June 5

Treasury Secretary Janet Yellen says unless lawmakers raise the debt ceiling by June 5, the government won't have enough money to pay all of its bills.

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news in one place.

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Axios

U.S. will run out of money on June 5: Yellen

It's the most precise warning yet from the Treasury secretary.

Salon

McCarthy, Biden close to deal — maybe

Biden and McCarthy may cut a deal before the weekend — but many Republicans and Democrats are likely to oppose it

Chicago Sun-Times

Debt ceiling talks teeter on the brink, as lawmakers leave town for weekend without a deal

Lawmakers are not expected back in Washington until Tuesday, two days before Treasury Secretary Janet Yellen predicts the U.S. won’t have funds to pay its bills.

Al Jazeera

What is 14th Amendment and can it resolve US debt ceiling fight?

President Biden says he could invoke constitution to order the Treasury to issue bonds and keep paying gov’t bills.

The Independent UK

Threat of US credit downgrade looms over debt ceiling talks

With one of three major rating agencies warning that America’s AAA credit is at risk, the stakes are growing in the standoff in Washington over raising the nation’s debt limit

The Independent UK

Debt default 'X-date' calculations aim to figure out when the US may run short of cash

For all the concern over when the government might run out of money to cover all its bills, it turns out that no one can be absolutely sure exactly when the country faces a potential default — the dreaded “X-date.”

Reason

What Exactly Is a "Default"?

The term gets thrown around loosely to refer to different concepts, but with very different implications.

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