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U.S. Treasury Secretary Janet Yellen told Congress on Friday that she expects the country to hit the debt ceiling next Thursday. The government will then resort to "extraordinary measures" to avoid default. Gregory Daco, chief economist at EY-Parthenon, joined CBS News to discuss that and other financial news.
Without congressional action, the U.S. could default as soon as June, she wrote in a letter Friday.
The House passed a new rules package in the first key test for Speaker Kevin McCarthy. CBS News congressional correspondent Scott MacFarlane joins John Dickerson on "Prime Time" to discuss.
President Biden signs bill to raise debt ceiling; New effort to remove lead water pipes
Bills to raise the debt limit and fund Pentagon and national security operations have cleared both chambers of Congress. President Biden is hoping his social and climate spending package will also pass, but a key Democratic vote in the Senate remains unclear. Nicholas Wu, a congressional reporter for Politico, joins CBSN to discuss the latest.
As inflation soars, the Federal Reserve says it could raise interest rates at least three times in 2022. CBS News senior White House and political correspondent Ed O'Keefe joins CBSN's Lana Zak to discuss that and more.
Lifting the debt limit by $2.5 trillion would mean the issue would not come up again until 2023.
Senate votes to increase debt limit; Congressional moment of silence for 800,000 COVID-19 deaths
In a 59-35 vote, the Senate passed a measure allowing for a one-time exemption to the filibuster so Democrats can raise the debt limit without Republican votes. Treasury Secretary Janet Yellen has warned the nation could enter default if the borrowing limit is not raised by December 15. CBS News reporter Sarah Ewall-Wice joins CBSN's Lana Zak to explain the process ahead.
Senate Majority Leader Chuck Schumer said he's optimistic "catastrophic default" will be avoided.
Former Trump chief of staff Mark Meadows is suing the House committee investigating the January 6 Capitol riot as it prepares to hold him in contempt. Plus, the House passes legislation paving the way for the Senate to raise the debt ceiling. CBS News congressional correspondent Kris Van Cleave, Associated Press White House reporter Zeke Miller, and Washington Examiner political and investigative reporter Sarah Westwood join CBSN's "Red & Blue" anchor Elaine Quijano with the latest from Washington.
President Biden met with Russian President Vladimir Putin for two hours in what the White House called a "useful" virtual summit. Plus, Congress seems to have reached a deal to raise the debt ceiling. CBS News senior White House correspondent Weijia Jiang, National Journal columnist Josh Kraushaar and Washington Post chief correspondent Dan Balz join CBSN "Red and Blue" anchor Elaine Quijano with more.
The fast-track process would require Democrats in the Senate to introduce the legislation to raise the debt limit by a certain amount, rather than suspending the debt limit.
Senate Republicans voted to pass a government funding measure after balking over the Biden administration's vaccine requirements for private companies, but Congress now faces a deadline to raise the debt ceiling. Politico Senate reporter Marianne Levine joins CBSN anchor Elaine Quijano with the details.
House Speaker Nancy Pelosi says her chamber is prepared to vote Thursday on a continuing resolution to keep the government funded on a temporary basis, which would avoid a government shutdown. CBS News congressional correspondent Nikole Killion joins CBSN's Tanya Rivero with the latest.
President Biden traveled to Minnesota Tuesday to highlight aspects of his $1 trillion infrastructure plan. Mr. Biden's trip comes as concerns over the new COVID-19 variant, rising inflation and issues within the nation's supply chain threaten to derail his overall economic agenda. CBS News senior White House correspondent Weijia Jiang joins CBSN's Ed O'Keefe to discuss.
The federal government faces new questions over economic issues that could be caused by the Omicron variant of COVID-19. Plus, the Senate is nearing its deadline to raise the national debt ceiling. CBS News' Skyler Henry, Wall Street Journal congressional reporter Siobhan Hughes and New York Times White House correspondent Jim Tankersley join CBSN's "Red & Blue" with more.
Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen testified before the Senate banking committee Tuesday. They addressed top economic concerns including rising inflation and the approaching deadline to raise the debt ceiling. CBS News reporter Sarah Ewall-Wice joins CBSN's "Red & Blue" with more.
Congress is back in session and faces looming deadlines to pass President Joe Biden's social spending bill, fund the government and raise the debt ceiling. CBS News congressional correspondent Nikole Killion joins CBSN's Tanya Rivero for more.
President Biden traveled to Detroit Wednesday to explain his infrastructure package to Michigan residents. The bill includes funding to expand electric vehicle charging infrastructure in the Motor City. CBS News chief White House correspondent Nancy Cordes joined CBSN's Lana Zak to discuss that and more.
Treasury Secretary Janet Yellen is urging Congress to raise or suspend the debt limit, or she says the U.S. will be unable to pay its bills by December 15. CBS News reporter Sarah Ewall-Wice joins CBSN with the latest.
Treasury Secretary Janet Yellen is urging Democrats to address the debt ceiling alone if needed to avoid default. CBS News congressional correspondent Nikole Killion joined CBSN's Tanya Rivero with more on what Congress could do with the social spending and infrastructure legislation.
Less than a month after lawmakers passed a small increase to the debt limit, the country again faces a deadline.
Hopes are fading that Democrats can reach an agreement on President Biden's massive social spending plan before he leaves for Europe. Ed O'Keefe reports.
Democrats spent another long day in negotiations, hoping to iron out the framework of a deal on the president's social spending plan by Wednesday. They've said repeatedly that they're close. Ed O'Keefe has the details.
Residents of Door County, Wisconsin, have a decades-long streak of presidential elections in which they have voted for the winning candidate.
The documents, which are marked top secret, were posted to the Telegram messaging app.
The jet – an EA-18G Growler aircraft – was carrying two crew members when it went down during a routine training flight.
Former President Donald Trump is hosting a town hall in Lancaster Sunday night, and Vice President Kamala Harris will be back in Chester County on Monday.
Whelan, who was arrested in Russia in 2018, got little sleep and used secret cellphones to communicate with prisoners sent to the frontlines in Ukraine.
Israel has been carrying out a large-scale operation in northern Gaza for the last two weeks, saying Hamas has regrouped there.
Georgia authorities announced Sunday an investigation has been opened into the "catastrophic failure" of the dock gangway.
The Dodgers are headed to the World Series after defeating the Mets10-5 in Game 6 of the National League Championship Series Sunday night.
Jonquel Jones scored 17 points, leading the Liberty to a 67-62 win over the Lynx on Sunday for their first WNBA title.
A helicopter crashed into a radio tower near downtown Houston Sunday night, killing four people on board, including a child, fire officials said.
One of the last remaining Navajo Code Talkers who transmitted messages during World War II using the tribe's native language has died.
Former President Donald Trump said of golfer Arnold Palmer, "this is a guy that was all man."
The jet – an EA-18G Growler aircraft – was carrying two crew members when it went down during a routine training flight.
On this "Face the Nation with Margaret Brennan" broadcast, Sen. Raphael Warnock and Paul Whelan join Margaret Brennan.
The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote on Wednesday that could end the Boeing strike.
Letter deliverers have been working without a contract since May 2023.
The frozen waffles, made by Treehouse Foods, were sold under store brands including Walmart's Great Value and Target's Good and Gather.
Navigating the insurance process after a natural disaster damages your home can be daunting. Here are some key tips.
Donald Trump said he'd appoint a CEO who is 78, his own age. But chief executives of top companies who are his age or older are rare.
Former President Donald Trump said of golfer Arnold Palmer, "this is a guy that was all man."
On this "Face the Nation with Margaret Brennan" broadcast, Sen. Raphael Warnock and Paul Whelan join Margaret Brennan.
The documents, which are marked top secret, were posted to the Telegram messaging app.
Michigan Secretary of State Jocelyn Benson warned Sunday of efforts by bad actors to "hack voters' minds" to spread misinformation ahead of Election Day.
The following is a transcript of an interview with Rep. Mike Lawler, Republican of New York, on "Face the Nation with Margaret Brennan" that aired on Oct. 20, 2024.
Brooklinn Khoury was 20 years old when a family member's pet launched at her face and bit off her upper lip.
"If he's exhausted being on the campaign trail, is he fit to do the job?" Harris asked as Trump refuses to release detailed medical records.
The worst rates of the infection known as "walking pneumonia" or "white lung pneumonia" are in young children ages 2 to 4 years old.
Rwanda says it's gaining control of a Marburg outbreak, but U.S. authorities are taking no chances as another killer virus spreads fast.
Among new mothers in the U.S., 1 in 8 suffer from postpartum depression, according to the CDC.
A group of about 2,000 migrants left Mexico's southern border Sunday in hopes of ultimately reaching the United States.
Colossal Biosciences says it's made a breakthrough toward the de-extinction of the thylacine, or Tasmanian tiger.
The documents, which are marked top secret, were posted to the Telegram messaging app.
Many Cubans are waiting in anguish as electricity on much of the island has yet to be totally restored after days of blackout.
Paul Whelan, who was arrested in Russia in 2018, got little sleep and used secret cellphones to communicate with prisoners sent to the frontlines in Ukraine.
This year, musicians all over the world, from Carnegie Hall to the Hollywood Bowl, are celebrating the 100th birthday of George Gershwin's "Rhapsody in Blue." Correspondent David Pogue looks into the history of Gershwin's first major work, a piece that melded jazz, classical and orchestral music, and became a fixture of American culture.
Like father, like son: Damon Wayans is starring with Damon Wayans Jr. in the new comedy series "Poppa's House" – the latest family affair for a comedian who has built a career working with his talented and hilarious relatives.
Like father, like son: Damon Wayans is starring with Damon Wayans Jr. in the new comedy series "Poppa's House." It's the latest family affair for a comedian who has built a career working with his talented siblings Keenan, Shawn, Marlon and Kim, son Michael, and nephews Damien and Craig. Damon talks with correspondent Tracy Smith about his journey from working in the Paramount Studio mailroom, to creating edgy characters in movies and TV.
Keri Russell, who played a Russian spy in "The Americans," is now on the frontlines of geopolitics in "The Diplomat," playing the U.S. Ambassador to the United Kingdom. Join "Sunday Morning" on the set of the hit Netflix series.
The cold open skit marked Baldwin's return to the comedy sketch show after the "Rust" involuntary manslaughter case was dismissed in July 2024.
Gordon Lubold from The Wall Street Journal joins "CBS Mornings Plus" to discuss the rise in drone activity over restricted U.S. military airspaces.
Dr. Marcus Collins, author of "For the Culture," joins "CBS Mornings Plus" to discuss the influence of social media on voter decision-making. With 19 days left in the race, a CBS News poll reveals more than 20% of voters frequently use social platforms to stay informed.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Just ahead of the holiday shopping rush, Apple is giving iPad minis their first update in years while Amazon is offering a new line of Kindle e-readers. CNET editor-at-large Scott Stein joined CBS News to discuss the devices.
Two Sudanese brothers are charged with running "Anonymous Sudan," one of the most prolific cyberattack-for-hire gangs of all time.
Colossal Biosciences says it's made a breakthrough toward the de-extinction of the thylacine, or Tasmanian tiger.
The National Oceanic and Atmospheric Administration published its winter outlook for this coming December, January and February. Experts anticipate warmer-than-average temperatures for much of the country. CBS News Sacramento meteorologist Tracy Humphrey joins to discuss.
Hurricanes Helene and Milton caused so much complex havoc that damages totals are likely join the infamous ranks of Katrina, Sandy and Harvey as super costly $50-billion-plus killers, experts say.
On Wednesday, the Supreme Court said it will allow the Environmental Protection Agency to enforce new greenhouse gas emissions limits for power plants. Michael Gerrard, a professor at Columbia Climate School, joins "The Daily Report" to discuss.
White blobs of "a mystery substance" dotting beaches across Canada's far northeast Newfoundland and Labrador province spark an investigation.
Investigators were puzzled when the beaten body of an unidentified woman was found dumped near a Florida highway. The next day, a bloody motel room was discovered. Were the crime scenes connected?
In 1982, Cathy Krauseneck, a young mother, was killed in her bed – an ax lodged in her head. Investigators believe the crime scene was staged to look like a burglary to cover up the real crime – the intentional murder of Cathy by her husband.
Richard Allen stands accused of killing the girls, Abby Williams and Libby German, in 2017.
As the presidential election nears, the issue of crime is weighing on the minds of voters. A CBS News poll taken earlier this year found 63% of voters said crime would be a factor in who they vote for, despite FBI data showing reported violent crime fell in 2023. In Chicago, a group of women is trying to continue to lower crime rates end the cycle of violence in the city.
Disturbing new details and heart-wrenching testimony were given during the first day of the Delphi murders trial. Prosecutors revealed how Abby Williams, 13, and Libby German, 14, were killed on a hiking trail more than seven years ago. Here's what to know about the case.
NASA's solar-powered Europa Clipper took off Monday from the Kennedy Space Center in Florida. The spacecraft is projected to reach Jupiter by April 2030 and will study one of the planet's moons. CBS News space consultant Bill Harwood explains what scientists are hoping to accomplish with the mission.
NASA successfully launched the Europa Clipper spacecraft Monday toward Jupiter where it will monitor a moon for potential habitable qualities. CBS News space consultant Bill Harwood has more on the spacecraft expected to near Jupiter's moon Europa around April 2030.
A multi-billion dollar space mission launching Monday may reveal more about an icy moon circling planet Jupiter. CBS News space consultant Bill Harwood has more.
SpaceX launched its most powerful rocket ever built and then flew its first stage booster back to the launch pad where giant metal arms called "chopsticks" grabbed it, just seven minutes after lifting off in Boca Chica, Texas. The uncrewed test flight is a new milestone in SpaceX's vision of developing a fully reusable rocket to return astronauts to the moon and beyond.
The ambitious mission won't actually look for life on Jupiter's moon Europa, but it should find out if the presumed ocean provides a habitable environment.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
CBS News Executive Director of Elections & Surveys Anthony Salvanto explains the research behind CBS News polls and how polling seeks to better understand what motivates voters to cast specific ballots unique to each individual.
U.S. officials say an investigation is underway after what appear to be top secret documents detailing Israel's plans for a military strike on Iran in response to a missile attack earlier this month were leaked online. Natalie Brand has more.
Seven people were killed when a gangway attached to a dock collapsed on Sappelo Island, about 60 miles south of Savannah, Georgia. The collapse happened during a festival celebrating the island's Gullah Geechee community. Cristian Benavides reports.
Shoppers bid farewell to the final Kmart store in Bridgehampton, New York, while snagging great deals before the store shut its doors for good. Shanelle Kaul has the story.
Many districts across the U.S. are facing a shortage of election workers, who typically skew older. One county in New Jersey is turning to high school students to help fill the gaps. Nick Coloway reports.