A mild recession, analysts say, would likely be the best-case scenario in the event of the US government defaulting on its debts. WASHINGTON -- The fight over raising the nation's borrowing limit ...

WASHINGTON, D.C. -- The US hit the debt ceiling set by Congress on Thursday, forcing the Treasury Department to start taking extraordinary measures to keep the government open and escalating pressure ...

The U.S. national debt is the total of what the federal government owes creditors. The U.S. has always carried debt, but the total has expanded rapidly since 2008.

The federal debt limit is not the same as funding the government. If the U.S. defaults on its debt, the ramifications are different than when Congress fails to fund the government. The recently ...

WASHINGTON, Oct 15 (KUNA) -- US President Joe Biden signed, Thursday evening, into law a bill to raise the debt ceiling through early December. The White House said in a statement that Biden signed ...