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Biden signs debt ceiling deal into law, averting historic default
President Joe Biden signed into law Saturday a bill to suspend the nation's debt limit through January 1, 2025, to avert a first-ever US default.
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President Joe Biden signed into law Saturday a bill to suspend the nation's debt limit through January 1, 2025, to avert a first-ever US default.
The political fight that jeopardized the government's ability to pay its bills threatened severe economic harm; Robert Rubin warns any future fights over the debt ceiling are risky and irresponsible.
The president spoke less than 24 hours after the Senate approved the agreement in a bipartisan vote.
The legislation now goes to President Biden's desk, pulling the nation back from the brink of a financial crisis.
A majority of Democrats and a majority of Republicans voted in favor of the Fiscal Responsibility Act.
With pandemic aid ending earlier this year, some food-stamp recipients are skipping meals or watering down baby formula.
The House passed the bill to raise the debt ceiling Wednesday. Now, the Senate will take it up.
President Biden and House Speaker Kevin McCarthy huddled yet again as the debt ceiling "X" date nears.
Even a short default could wipe out more than a million jobs, especially in parts of the U.S. that depend on federal spending.
McCarthy said Sunday that he had a "productive" call with Mr. Biden as the president returns from the G-7 conference in Japan.
"It's hard to overstate how bad it would be," one expert said. Everything from Social Security payments to your retirement fund could get hit.
Without a deal, Treasury Secretary Janet Yellen has said the U.S. could be unable to pay its bills and might default on its debt as soon as June 1.
Here's what Republicans and Democrats are demanding regarding the debt ceiling, and the red lines they're drawing.
The treasury secretary also told G-7 finance ministers and central bank chiefs meeting in Japan that a first-ever U.S. default on its debts is "unthinkable."
Republicans and Democrats still appear far apart on raising or suspending the debt ceiling. The five leaders are expected to meet again Friday.
The U.S. may be unable to pay its bills within weeks if Congress does not raise or suspend the debt ceiling.
The treasury secretary moved up her estimate of when the U.S. risks defaulting on its debt.
Here are the options Congress has to avert a first-time U.S. credit default and the severe economic consequences that could follow.
The federal government caps the amount of money it can borrow. But what are the risks if Congress fails to lift the debt limit?
The Fort Collins Foxes, a Northern Colorado baseball team, dedicated one of their home games to local veterans by playing against a team of military members.
Usher accepted the lifetime achievement award at the 2024 BET Awards, and Will Smith debuted a single as he continued his comeback from slapping Chris Rock at the Oscars two years ago.
Boeing announced plans to buy back the bulk of supplier Spirit AeroSystems for $4.7 billion, and Airbus said it would purchase Spirit operations related to the European aerospace giant.
Living comfortably means being able to pay all bills, afford a handful of wants and be able to save for the future.
Simone Biles is heading back to the Olympics along with Jordan Chiles, Jade Carey, Hezley Rivera and Suni Lee.
The Fort Collins Foxes, a Northern Colorado baseball team, dedicated one of their home games to local veterans by playing against a team of military members.
NOCO Humane is moving dogs and cats out quickly, with adoptions surpassing average rates. However, the influx of animals it has taken in, paints a different picture.
Officials with the Loveland Fire Rescue Authority say a large RV was recovered from the river after falling 75 feet down an embankment in the Big Thompson Canyon on West Highway 34.
West Metro Fire Rescue says crews responded to a detached garage fire near Morrison Road and Kipling Street.
The suspect in the Smoky Hill Road shooting in Aurora has been charged with first-degree attempted murder, while his bond has been set at $2 million.
The Fort Collins Foxes, a Northern Colorado baseball team, dedicated one of their home games to local veterans by playing against a team of military members.
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The man who died while rafting at Dinosaur National Monument has been identified as a fire captain from Salt Lake City.
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The Jefferson County Sheriff's Office posted a message on X, announcing that a 12-year-old boy's bike that was stolen by a suspect outside of a Walmart has been returned.
Simone Biles is heading back to the Olympics along with Jordan Chiles, Jade Carey, Hezley Rivera and Suni Lee.
Dick Vitale announced that a biopsy of a lymph node in his neck showed cancer.
DU defenseman Zeev Buium was drafted 12th overall by the Minnesota Wild during the first round of the 2024 NHL Entry Draft at the Sphere just outside Las Vegas Friday night.
History was made at the U.S. Senior Open on Friday when Frank Bensel Jr. hit a pair of aces on back-to-back holes.
Nathan MacKinnon is your 2024 NHL MVP and "most outstanding" player -- receives Hart Memorial Trophy and Ted Lindsay Award.
Usher accepted the lifetime achievement award at the 2024 BET Awards, and Will Smith debuted a single as he continued his comeback from slapping Chris Rock at the Oscars two years ago.
Living comfortably means being able to pay all bills, afford a handful of wants and be able to save for the future.
Simone Biles is heading back to the Olympics along with Jordan Chiles, Jade Carey, Hezley Rivera and Suni Lee.
The Justice Department has presented Boeing with a plea deal in which the company would plead guilty to a conspiracy charge, pay a fine and enter a three-year probation period.
The state attorney general is investigating the shooting of Nyah Mway, who was born in Myanmar and is a member of its Karen ethnic minority.
Usher accepted the lifetime achievement award at the 2024 BET Awards, and Will Smith debuted a single as he continued his comeback from slapping Chris Rock at the Oscars two years ago.
Some Democrats question Biden's ability to campaign in the 2024 presidential election, divide over whether he should be the nominee, after voters say Trump won debate.
Pennsylvania Rep. Madeleine Dean, a Democrat, said of Biden, "He had a bad debate. There's no two ways about that."
The Biden campaign says President Biden will "absolutely not" step aside.
Former President Donald Trump addressed a rally in Chesapeake, Virginia, a day after his first 2024 debate with President Biden.
Does wearing a face mask help to prevent COVID? Four years after the pandemic began, here's what scientists have learned.
The FDA said its study better simulated how commercial milk processing kills the bird flu virus, H5N1.
Dania Furniture recalls Hayden bookcase sold nationwide after an unanchored unit fell over, killing a 4-year-old.
A Colorado pediatric doctor says it's children who could endure the worst from heatstroke.
A new study found no association between multivitamins and lower risk of death. CBS News medical contributor Dr. Céline Gounder shares what you need to know.
Boeing announced plans to buy back the bulk of supplier Spirit AeroSystems for $4.7 billion, and Airbus said it would purchase Spirit operations related to the European aerospace giant.
Living comfortably means being able to pay all bills, afford a handful of wants and be able to save for the future.
Some of the world's largest companies have toned down their Pride campaigns in the wake of last year's backlash against Target and Bud Light.
Xcel Energy submitted its long-awaited wildfire mitigation plan Thursday, seeking approval for $1.9 billion for work to protect Colorado from wildfires ignited by power equipment.
Advertisers hope that bridge building and slowing down is a message that sells to an anxious nation in short supply of unity.
The University of Denver is launching a new certificate program to address affordable housing needs in Colorado.
Right now, Coloradans are struggling to make ends meet, and a nonprofit in Denver is providing opportunities to change that.
From blazers to shoes, women of all shapes and sizes enjoyed a free shopping spree. Some were even able to get a makeover.
This week Denver city officials celebrated the opening of 49 new affordable condos in the Five Points neighborhood.
"Happiness, peace, and dreams aren't for other communities. These goals are accessible to us as well," one grant recipient said. "I was so proud, because I realized in that moment I was breaking a cycle."