Yellen calls Republican plan to prioritize payments "default by another name"
The Treasury Department has been using so-called extraordinary measures to keep paying the bills since the government hit the debt limit in January.
Janet Yellen
Russian forces intensify Bakhmut offensive
Russian forces are intensifying their offensive in eastern Ukraine as they attempt to encircle the mining city of Bakhmut. Ukraine's military says the situation on the ground is "extremely tense." CBS News foreign correspondent Imtiaz Tyab joined Anne-Marie Green on "CBS News Mornings" with the latest from Ukraine.
Biden to announce more sanctions on Russia
President Biden is expected to announce new sanctions on Russia, and administration officials are warning any countries that help Russia evade those economic sanctions will face consequences as well. Deputy Treasury Secretary Wally Adeyemo joins CBS News to explain the administration's plans, and why he's confident the sanctions are successful despite some saying there hasn't been the impact they had hoped.
Yellen describes "catastrophe" that will result if debt limit isn't raised
The treasury secretary warned household payments on mortgages and auto loans would go up, and other payments to military families and seniors would not be made.
Yellen: Defaulting on debt would be "catastrophe"
Treasury Secretary Janet Yellen told Axios a default would cause a financial crisis while President Biden and speaker of the house Rep. Kevin McCarthy are set to discuss raising the debt ceiling on Wednesday. CBS News reporter Sarah Ewall-Wice has more on where Republicans and Democrats stand.
Can the U.S. catch up to China and Russia's African outreach?
After decades of investment and blossoming ties with Beijing and Moscow, experts say "short-term courtship" of African nations simply won't suffice.
Analyzing the impact of hitting the debt limit
The U.S. hit its $31.4 trillion debt ceiling Thursday, prompting the Treasury Department to enact "extraordinary measures" to delay a default. CBS News congressional correspondent Scott MacFarlane reports from Capitol Hill, and CBS News business analyst Jill Schlesinger discusses what this could mean for the U.S. economy.
Treasury takes action as U.S. hits debt ceiling
The U.S. officially reached the debt limit on Thursday, and the Treasury Department says it has begun taking "extraordinary measures" to maintain the full faith and credit of the United States. It sets up a showdown that could put the entire U.S. economy at risk. Scott MacFarlane has more.
Here's when the U.S. could crash through the debt ceiling
Hitting "Date X" without raising the debt ceiling could lead the U.S. to default on its debt for the first time in its history.
Protecting your money amid debt ceiling concerns
The United States hit its debt ceiling today as federal officials maneuver to avoid the country defaulting on its debts. Carol Schleif, chief investment officer of BMO Family Office, joined CBS News to discuss precautions Americans should take to protect their money.
Treasury enacts "extraordinary measures"
The Treasury Department announced Thursday the U.S. has hit its debt ceiling. It means the country has reached its borrowing limit and is in danger of possibly defaulting as soon as June. Cristian deRitis, deputy chief economist at Moody's Analytics, joined CBS News to discuss.
U.S. hits debt ceiling limit
The Treasury Department announced the U.S. has hit its debt ceiling. The announcement means the country has reached its borrowing limit and is in danger of defaulting as soon as June. CBS News congressional correspondent Scott MacFarlane has more.
Looming debt ceiling crisis
U.S. Treasury Secretary Janet Yellen said last week that the nation will reach the debt limit on Thursday, prompting a slew of warnings from Wall Street analysts. Scott MacFarlane reports.
Debt limit standoff between Biden, House GOP
The U.S. is projected to hit its debt limit Thursday, and Treasury Secretary Janet Yellen is urging congressional leaders to raise the debt ceiling to ensure the U.S. doesn't default on its debts. The White House and House Republicans are at a standoff, with GOP leaders demanding spending cuts. CBS News congressional correspondent Scott MacFarlane joined John Dickerson to discuss the latest on the issue.
U.S., China urged to bridge "tectonic rift"
U.S. Treasury Secretary Janet Yellen met with her Chinese counterpart on Wednesday in Switzerland. CBS News anchors Lana Zak and Errol Barnett spoke with Amy Celico, a principal with the foreign policy firm Albright Stonebridge Group, about the state of U.S.-Chinese relations.
What does the debt ceiling mean for you?
The U.S. is expected to hit the debt ceiling on Thursday and trigger some emergency measures to avoid the risk of default. CBS News' Anne-Marie Green takes a look at how this may impact your finances.
Yellen meets with Chinese economic officials
Treasury Secretary Janet Yellen met with top Chinese economic officials in Switzerland Wednesday for over two hours. CBS News reporter Sarah Ewall-Wice joined Vladimir Duthiers and Anne-Marie Green to discuss the talks and what it means for the global economy.
Questions for White House on Biden documents
CBS News senior White House correspondent Weijia Jiang and CBS News congressional correspondent Scott MacFarlane join "Red and Blue" with the latest on the response to classified documents found at President Biden's home and former office, as well as concerns about the economy as the U.S. is set to hit the federal debt limit.
U.S. to hit debt limit Thursday
Treasury Secretary Janet Yellen says the U.S. will hit its debt limit of $31.4 trillion Thursday. CBS News congressional correspondent Scott MacFarlane joins the show to discuss what's being said on Capitol Hill about the looming debt ceiling crisis.
U.S. to reach debt limit on Thursday
The U.S. is expected to hit its debt borrowing limit in a couple of days. CBS News political director Fin Gomez covers has more on that and how the 2024 Republican presidential primary is shaping up.
Congress faces looming federal deb limit
As the U.S. nears its debt limit, House Republicans are calling for negotiations and federal spending caps. CBS News congressional correspondent Scott MacFarlane joined "Red and Blue" to discuss lawmakers' economic options, as well as the latest on the investigations into New York Rep. George Santos.
U.S. expected to hit debt limit this week
Treasury Secretary Janet Yellen warned that the country is on track to reach the debt limit, or the cap on how much money the federal government can borrow. CBS News congressional correspondent Scott MacFarlane joined Anne-Marie Green and Vladimir Duthiers to discuss the potential debt crisis and how Congress might respond.
Yellen warns U.S. to hit debt limit
Treasury Secretary Janet Yellen has told congressional lawmakers the U.S. is likely to reach its debt limit next Thursday, Jan. 19. Javier David, managing editor of business and markets at Axios, and a CBS News contributor, discussed what the implications could be if that happens, and what tools are available to delay a potential default.
Both signatures on dollar belong to women
For the first time in American history, both of the signatures on the dollar belong to women: U.S. Treasurer Lynn Malerba and Treasury Secretary Janet Yellen. 60 Minutes joined Secretary Yellen to view the freshly printed currency.
Treasury Secretary Janet Yellen on inflation
In the U.S., inflation is at a 40-year high. Secretary of the Treasury Janet Yellen told 60 Minutes she sees positive signs that many of the underlying causes are being resolved and that by the end of 2023, inflation will be substantially reduced.
German authorities had received tipoffs about Christmas market attack suspect
Police in Magdeburg, Germany, said Sunday that those who died were four women aged 45, 52, 67 and 75, as well as a 9-year-old boy.
Poll: Most Americans think government is hiding information about drones
Over half of Americans see the drones that have been spotted over the East Coast as a threat to the U.S.
The story of Handel's "Messiah"
Since its premiere in 1742, George Frideric Handel's 3.5-hour oratorio for chorus, soloists and orchestra has become a timeless message of hope, and a Christmas tradition.
Rickey Henderson, MLB Hall of Famer, dies at 65
Rickey Henderson is widely considered to be one of the best leadoff hitters and base stealers in baseball.
Israeli settlements, and the expanding divide of settlers and Palestinians
Today, upwards of 700,000 Israelis live in settlements which the U.N. calls illegal. "Sunday Morning" talks with two settlers and with Palestinians in the West Bank living on opposite sides of an Israeli security barrier.
Why drone hysteria has taken off
Alleged drone sightings have been multiplying exponentially, with more than 5,000 reported in the past few weeks. But experts say the majority of reports about unusual lights in the sky are probably anything but drones.
2 U.S. Navy pilots eject safely when jet shot down by likely "friendly fire"
An F/A-18 fighter jet was "mistakenly fired on" by the guided missile cruiser USS Gettysburg, authorities said.
Kari Lake says she has no intention of turning Voice of America into "Trump TV"
Kari Lake, a former broadcast journalist who unsuccessfully ran for governor and for a U.S. Senate seat in Arizona, is President-elect Donald Trump's selection to lead Voice of America.
Several hurt after driver plows through Texas mall; suspect killed by police
The suspect drove through the doors of a JC Penny in Killeen, Texas, and continued inside for "several hundred yards," an official said.
U.S.
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Why drone hysteria has taken off
Alleged drone sightings have been multiplying exponentially, with more than 5,000 reported in the past few weeks. But experts say the majority of reports about unusual lights in the sky are probably anything but drones.
Poll: Most Americans think government is hiding information about drones
Over half of Americans see the drones that have been spotted over the East Coast as a threat to the U.S.
Americans more hopeful about 2025 than they were for 2024 — CBS News poll
Trump's election is a big part of the positive outlook, especially for Republicans.
Kari Lake says she has no intention of turning Voice of America into "Trump TV"
Kari Lake, a former broadcast journalist who unsuccessfully ran for governor and for a U.S. Senate seat in Arizona, is President-elect Donald Trump's selection to lead Voice of America.
Who killed JonBenét Ramsey? Her dad believes DNA could reveal killer
A look back at how "48 Hours" covered the 1996 Christmastime murder of JonBenét Ramsey in 2002, and what her father John Ramsey says about the unsolved Colorado case nearly 28 years later.
MoneyWatch
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Party City files for bankruptcy, a day after announcing mass layoffs
Party City informed employees in an email on Friday that it was conducting an immediate "mass layoff" at its headquarters.
Senate approves bill to expand Social Security to millions of Americans
Senators approve a bill to expand Social Security benefits to millions of Americans, with President Biden expected to sign it into law.
How much more will it cost to heat your home this winter?
Here's what's driving up home heating costs, and how much families are expected to spend this winter.
IRS sending up to $1,400 to 1 million people. Here's who qualifies.
The IRS said it's sending out checks worth up to $1,400 to 1 million people. Here's what to know about the "special payments."
Feds sue Zelle, alleging nation's biggest banks failed to stop fraud
Government watchdog claims Americans lost hundreds of millions to fraud related to the bank-operated mobile payments network.
Politics
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Transcript: Alejandro Mayorkas on "Face the Nation with Margaret Brennan," Dec. 22, 2024
The following is the full transcript of an interview with Homeland Security Secretary Alejandro Mayorkas on "Face the Nation with Margaret Brennan" that aired on Dec. 22, 2024.
Poll: Most Americans think government is hiding information about drones
Over half of Americans see the drones that have been spotted over the East Coast as a threat to the U.S.
Americans more hopeful about 2025 than they were for 2024 — CBS News poll
Trump's election is a big part of the positive outlook, especially for Republicans.
Kari Lake says she has no intention of turning Voice of America into "Trump TV"
Kari Lake, a former broadcast journalist who unsuccessfully ran for governor and for a U.S. Senate seat in Arizona, is President-elect Donald Trump's selection to lead Voice of America.
Lara Trump won't pursue Rubio's Florida Senate seat, she says
Lara Trump, the daughter-in-law of President-elect Donald Trump, says she's removing herself from consideration for Marco Rubio's Senate seat.
HealthWatch
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HealthWatch
CDC releases concerning new flu numbers
Thirteen states reported "high" or "very high" levels of flu-like illness last week, according to the U.S. Centers for Disease Control and Prevention. That's double the number of states from the week before. Ali Bauman reports.
A teen's misdiagnosis led to medication, but surgery led to a cure
Isaac Klapper was 10 years old when he started having episodes of what doctors initially thought was a movement disorder.
Why fish, birds and other animals yawn too, according to an expert
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Stuffing stockings with skincare? Here's what kids should and shouldn't be using
Skin care is all the rage for teens and tweens these days, but be careful not to give products that could cause more harm than good.
He went in for a colonoscopy. The hospital charged $19,000 for two.
A Chicago man was stuck with a big medical bill after undergoing a colonoscopy that found no evidence of cancer. Here's why.
World
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Israeli settlements, and the expanding divide of settlers and Palestinians
Today, upwards of 700,000 Israelis live in settlements which the U.N. calls illegal. "Sunday Morning" talks with two settlers and with Palestinians in the West Bank living on opposite sides of an Israeli security barrier.
German authorities had received tipoffs about Christmas market attack suspect
Police in Magdeburg, Germany, said Sunday that those who died were four women aged 45, 52, 67 and 75, as well as a 9-year-old boy.
2 U.S. Navy pilots eject safely when jet shot down by likely "friendly fire"
An F/A-18 fighter jet was "mistakenly fired on" by the guided missile cruiser USS Gettysburg, authorities said.
Pope Francis tells Vatican staff to stop gossiping in Christmas speech
Pope Francis has told Vatican bureaucrats to stop speaking ill of one another, calling gossip "an evil that destroys social life."
At least 38 dead after crash between a passenger bus and a truck in Brazil
In 2024, more than 10,000 people died in traffic accidents in Brazil, according to the Ministry of Transportation.
Entertainment
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Entertainment
"Christmas Dance" by Darren Criss
In this web exclusive, Darren Criss and the Young People's Chorus of New York City help "Sunday Morning" celebrate the holiday in a performance of Criss' "Christmas Dance."
Holiday music with Darren Criss: "Have Yourself a Merry Little Christmas"
Darren Criss, the beloved star of television's "Glee," and the Broadway musical "Maybe Happy Ending," helps "Sunday Morning" celebrate Christmas with a performance of the Hugh Martin-Ralph Blane standard, "Have Yourself a Merry Little Christmas."
Music with Darren Criss: "Happy Holidays/The Holiday Season"
Darren Criss (the beloved star of television's "Glee," and the Broadway musical "Maybe Happy Ending") and the Young People's Chorus of New York City help "Sunday Morning" celebrate Christmas with a performance of "Happy Holidays/The Holiday Season."
Darren Criss on "Maybe Happy Ending"
Darren Criss became a fan favorite on the hit TV series "Glee," and won an Emmy for "American Crime Story." Now he's starring in the acclaimed musical "Maybe Happy Ending." He talks with correspondent Kelefa Sanneh about his road to Broadway, his blessings and losses, and his credo that "Life is a cabaret."
Darren Criss on counting his lucky stars
Darren Criss became a fan favorite on the hit TV series "Glee," and won an Emmy for "American Crime Story." Now he's starring in the acclaimed musical "Maybe Happy Ending." He talks about his road to Broadway, and his credo that "Life is a cabaret."
Technology
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Why drone hysteria has taken off
Alleged drone sightings have been multiplying exponentially, with more than 5,000 reported in the past few weeks. But experts say the majority of reports about unusual lights in the sky are probably anything but drones.
Why drone hysteria has taken off
By most accounts, alleged drone sightings have been multiplying exponentially, with more than 5,000 reported in just the past few weeks. But experts say the majority of reports about unusual lights in the sky are probably anything but drones. Correspondent Tom Hanson reports.
How AI powered robots are helping small farms
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.
Supreme Court agrees to hear case about TikTok ban
The Supreme Court said Wednesday it will hear an appeal from TikTok over a federal law that would ban the social media giant if it is not sold by its Chinese parent company. Jan Crawford has more.
Teen victim of deepfake porn urges Congress to pass "Take It Down Act"
Elliston Berry's life was turned upside down after a photo she posted on Instagram was digitally altered online to be pornographic.
Science
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What to know about the winter solstice, 2024's shortest day
The 2024 winter solstice, the shortest day of the year, happens on Saturday, Dec. 21, and is marked with traditions and celebrations around the world.
Class-action lawsuit over plastic recycling
This week a group of plaintiffs in Missouri, Kansas, California and Florida filed a class-action lawsuit against dozens of companies and organizations, claiming they've falsely promoted how easy it is to recycle plastics. CBS News Los Angeles climatologist Marina Jurica has the details.
Why fish, birds and other animals yawn too, according to an expert
Humans aren't alone when it comes to yawning — all vertebrates do it. But why? An expert explains the likely reason behind this "evolutionarily ancient" act.
Americans coexisted with 4-ton sloths for millennia, research shows
Early Americans may have spent millennia sharing prehistoric savannas and wetlands with enormous beasts, research shows.
EPA tackling pollution in at-risk communities
The Environmental Protection Agency under President Biden created a new Office of Environmental Justice that seeks to address pollution levels in disadvantaged and marginalized communities. However, there is concern that the incoming Trump administration could do away with the new department. David Schechter reports.
Crime
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Who killed JonBenét Ramsey? Her dad believes DNA could reveal killer
A look back at how "48 Hours" covered the 1996 Christmastime murder of JonBenét Ramsey in 2002, and what her father John Ramsey says about the unsolved Colorado case nearly 28 years later.
Will convicted wife killer Scott Peterson get a new trial?
After California man's death sentence is overturned, there's a renewed push to clear him.
Several hurt after driver plows through Texas mall; suspect killed by police
The suspect drove through the doors of a JCPenny in Killeen, Texas, and continued inside for "several hundred yards," an official said.
CEO killing sparks concerns about extremism
Luigi Mangione, now held in a New York City lock-up, could face the death penalty if convicted of the shooting death of UnitedHealthcare CEO Brian Thompson. The killing is sparking new concerns about violent extremism bubbling across the country.
Dozens injured in Germany Christmas market attack
At least two people are dead and dozens more injured after a vehicle plowed into a crowd at a Christmas market in Magdeburg, Germany. Authorities say the driver of the car was arrested and that it appears to be a deliberate attack. Elaine Cobbe has details.
Space
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Discovery of "tipped over" black hole surprises NASA scientists
New analysis techniques and decades-old research helped NASA scientists identify an unusual black hole in a distant galaxy.
Why are the Boeing Starliner astronauts stuck in space?
Here's why NASA astronauts Suni Williams and Butch Wilmore are stuck, but not stranded, at the International Space Station after launching into space in June.
NASA delayes return date for astronauts
NASA has delayed the return date for Boeing's Starliner astronauts Butch Wilmore and Suni Williams. CBS News' Manuel Bojorquez reports on the decision to keep the two in space.
NASA leader weighs in on Elon Musk, SpaceX and plans for moon rocket
NASA Administrator Bill Nelson says he's optimistic the Trump administration will support the space agency's agenda.
Boeing Starliner crew's return delayed again
Two astronauts who have been stuck in space since June will have to wait until at least the end of March to come home after NASA on Wednesday again pushed back their return date. Derrick Pitts, chief astronomer for the Franklin Institute, joined CBS News to discuss what's causing the delays.
Latest Galleries
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Notable Deaths in 2024
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Scott Peterson case: New evidence?
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The troubled marriage of Ashley and Doug Benefield
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Texas couple investigates teen daughter's unusual death
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Summer music heats up 2024
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
"Christmas Dance" by Darren Criss
In this web exclusive, Darren Criss and the Young People's Chorus of New York City help "Sunday Morning" celebrate the holiday in a performance of Criss' "Christmas Dance."
Holiday music with Darren Criss: "Have Yourself a Merry Little Christmas"
Darren Criss, the beloved star of television's "Glee," and the Broadway musical "Maybe Happy Ending," helps "Sunday Morning" celebrate Christmas with a performance of the Hugh Martin-Ralph Blane standard, "Have Yourself a Merry Little Christmas."
Reflections on the messages of Christmas and Hanukkah
Wednesday will mark both Christmas Day and the first night of Hanukkah. Mariann Budde, Bishop of the Episcopal Diocese of Washington, D.C., and author and rabbi Steve Leder, of Los Angeles, offer their thoughts on what the holiday season means to us all.
Music with Darren Criss: "Happy Holidays/The Holiday Season"
Darren Criss (the beloved star of television's "Glee," and the Broadway musical "Maybe Happy Ending") and the Young People's Chorus of New York City help "Sunday Morning" celebrate Christmas with a performance of "Happy Holidays/The Holiday Season."
Darren Criss on "Maybe Happy Ending"
Darren Criss became a fan favorite on the hit TV series "Glee," and won an Emmy for "American Crime Story." Now he's starring in the acclaimed musical "Maybe Happy Ending." He talks with correspondent Kelefa Sanneh about his road to Broadway, his blessings and losses, and his credo that "Life is a cabaret."