debt ceiling - updates

Rappler's latest stories on debt ceiling

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Congress extends US borrowing authority until 2015

Feb 13, 2014 - 1:11 PM

The Senate passed the legislation 55 43 approving a debt ceiling hike with no political riders or other legislation attached

DEBT CEILING HIKE. U.S. Sen. Bernie Sanders (D-VT), left, talks with U.S. Rep. Peter DeFazio after the House voted to raise the debt ceiling until March 2015 on February 11, 2014 in Washington, DC. Photo by T.J. Kirkpatrick/Getty Images/AFP

US debt ceiling hike clears House, heads to Senate

Feb 12, 2014 - 7:20 AM

UPDATED The move dials back the threat of an election year fiscal showdown

NO STRINGS ATTACHED. The US House passes a debt ceiling bill without any preconditions, a sign of victory for embattled US President Barack Obama. File photo by EPA/Michael Reynolds

Shutdown cost US economy $24B: S&P

Oct 17, 2013 - 9:36 AM

The partial US government shutdown has taken 24 billion out of the economy and will cut growth in the 4th quarter significantly S P says

SHUTDOWN. A view of a hall on Capitol Hill September 29, 2013 in Washington, DC. AFP/Brendan Smialowski

Congress pulls US back from brink, averts default

Oct 17, 2013 - 7:06 AM

UPDATED The US Congress approves a measure that should end the US government shutdown and averts a potentially catastrophic default

DEADLINE LOOMING. A view of Capitol Hill October 16, 2013 in Washington, DC. US senators scrambled together an eleventh hour compromise Wednesday that they hoped might protect Washington's battered financial standing by heading off fears of a default. AFP/Brendan Smialowski

US Senate leader confirms deal to end fiscal impasse

Oct 16, 2013 - 11:41 PM

2nd UPDATE Senator Mitch McConnel the top Republican confirmed the agreement which would reopen the federal government with a temporary budget until January 15 It has to be approved by both the Senate and the Republican controlled House

DEAL STRUCK. US Senate leaders have struck a deal to end the debt ceiling impasse. Pictured above is the US Capitol in Washington, DC, on January 2, 2013. Photo by AFP / Saul Loeb

Senate in spotlight as US on brink of possible default

Oct 16, 2013 - 10:33 PM

I think right now it s going to be the Senate because last night it fell apart in the House Republican Senator Kelly Ayotte told CNN warning it would be unacceptable to miss the midnight deadline

DEBT DEFAULT LOOMING. The US is facing a debt default as politicians bicker over the federal budget. Pictured above is the dome of the US Capitol in Washington, DC, USA, 03 October 2013. Photo by EPA/Shawn Thew

Rappler Newscast | October 16, 2013

Oct 16, 2013 - 9:38 PM

Death toll from earthquake continues to rise Drilon says he will sign subpoena for Napoles to US House fails to agree on a proposal to raise the debt ceiling

Fitch puts US debt rating on watch for downgrade

Oct 16, 2013 - 11:03 AM

The rating agency has warned US of the downgrade after Congress reached no deal to raise the debt ceiling

The 113th US House of Representatives during opening session at the US Capitol in Washington, DC. AFP PHOTO / Saul LOEB

Disarray in US House as debt-ceiling bills falter

Oct 16, 2013 - 7:10 AM

UPDATED The first effort never got off the ground and a rules committee postponed a key hearing that would allow the second measure to reach the floor

BROKEN IMAGE. The image of the US Capitol is reflected in the Capitol Reflecting Pool, during dusk on the fifteenth day of a partial shutdown of the federal government, in Washington DC, USA, 15 October 2013. EPA/Michael Reynolds

Rappler Newscast | October 15, 2013

Oct 15, 2013 - 9:34 PM

Death toll rises from a magnitude 7 2 earthquake iconic churches and heritage sites are damaged US Senate leaders appear close to a debt ceiling deal

Senate leaders appear close to US debt ceiling deal

Oct 15, 2013 - 6:26 PM

Senate leaders appear close to a deal to avoid a self inflicted political calamity that would shred US credibility and rock the global economy

HOUSE DIVIDED. A picture made available 06 October 2013 shows the US Capitol at sunset, reflected in a window, in Washington DC, USA, 05 October 2013. EPA/Michael Reynolds

US lawmakers split despite Oct 17 debt deadline

Oct 14, 2013 - 11:01 AM

If the US debt ceiling is not raised by Thursday October 17 the Treasury would run out of money and could begin defaulting on its obligations for the first time in history

HOUSE DIVIDED. A picture made available 06 October 2013 shows the US Capitol at sunset, reflected in a window, in Washington DC, USA, 05 October 2013. EPA/Michael Reynolds

'De-Americanized' world needed after US shutdown: China media

Oct 13, 2013 - 2:25 PM

The world should consider de Americanizing a commentary on China s official news agency said Sunday

SHUTDOWN. A view of a hall on Capitol Hill September 29, 2013 in Washington, DC. AFP/Brendan Smialowski

Senate in talks to end US fiscal impasse, deal elusive

Oct 13, 2013 - 7:32 AM

Politicians grapple with how to open the shuttered government and avoid a potentially calamitous failure to pay the country s obligations for the first time in history

DEBT DEFAULT LOOMING? The US is facing a debt default as politicians bicker over the federal budget. The dome of the US Capitol in Washington, DC, USA, 03 October 2013. EPA/Shawn Thew

Oil prices plunge in Asian trade

Oct 11, 2013 - 11:34 AM

Oil prices dipped in Asian trade despite hopes of a breakthrough in the crippling budget impasse in Washington as dealers focused on a US supply glut

Obama chooses 'exceptionally qualified' Yellen for Fed

Oct 10, 2013 - 7:02 AM

The nomination of a new Fed chair comes amid widespread concern that its path toward exiting its easy money policies could send economic shivers around the globe

NEXT FED CHAIR. A file photo dated 10 October 2012 showing Janet Yellen, Vice Chair of the US Federal Reserve System, during the International Monetary Fund (IMF) and the World Bank Annual Meetings in Tokyo, Japan. EPA/Franck Robichon

Obama to nominate Yellen as US Fed chief

Oct 09, 2013 - 7:23 AM

UPDATED Obama will put forward Yellen for a four year term at a White House event to be attended by outgoing Fed Chairman Ben Bernanke

NEXT FED CHAIR? A file photo dated 10 October 2012 showing Janet Yellen, Vice Chair of the US Federal Reserve System, during the International Monetary Fund (IMF) and the World Bank Annual Meetings in Tokyo, Japan. EPA/Franck Robichon

World fears US default, Obama warns

Oct 09, 2013 - 2:34 AM

UPDATED Failure to raise the US debt ceiling would cause the United States to default on its bills US President Barack Obama says in a press briefing

LET'S END THIS. US President Barack Obama speaks during a press conference in the Brady Press Briefing Room at the White House in Washington, DC, on October 8. Photo by Jewel Samad/AFP

Default fears fuel angst in shutdown Washington

Oct 08, 2013 - 8:36 AM

Washington s building financial crisis was noted by China with Beijing warning that the United States must act quickly to establish the credibility of the dollar

DEBT DEFAULT LOOMING? The US is facing a debt default as politicians bicker over the federal budget. The dome of the US Capitol in Washington, DC, USA, 03 October 2013. EPA/Shawn Thew

Congress 'playing with fire' on debt ceiling – Lew

Oct 07, 2013 - 7:32 AM

Speaker John Boehner said the Republican controlled House would not raise the US debt ceiling without concessions from the White House

'PLAYING WITH FIRE.' US Treasury Secretary Jack Lew in an interview on CNN's "State of the Union" October 6, 2013. Frame grab courtesy CNN

Republicans rip White House in shutdown counter-attack

Oct 05, 2013 - 12:37 AM

This isn t some damn game The American people don t want their government shut down and neither do I US House Speaker John Boehner said

STILL NO DEAL. US Speaker of the House, Republican John Boehner (C), delivers remarks to members of the news media following a meeting with US President Barack Obama (not pictured) on the partial government shutdown standstill, outside the Oval Office of the White House in Washington DC, USA, 02 October 2013. EPA/Michael Reynolds

US shutdown prompts global trepidation, bemusement

Oct 03, 2013 - 3:36 PM

The effects of the dramatic spending freeze have rippled around the globe

GOVERNMENT STALLED. The White House is seen at dusk in Washington, DC, September 30, 2013. AFP / Saul Loeb

White House talks fail to end government shutdown

Oct 03, 2013 - 8:23 AM

UPDATED The talks at the White House appeared to make little obvious progress in ending the shutdown

STILL NO DEAL. US Speaker of the House, Republican John Boehner (C), delivers remarks to members of the news media following a meeting with US President Barack Obama (not pictured) on the partial government shutdown standstill, outside the Oval Office of the White House in Washington DC, USA, 02 October 2013. EPA/Michael Reynolds

What happens during a US government shutdown?

Oct 01, 2013 - 12:35 PM

UPDATED Here is a snapshot of what is likely to occur in the event the US Congress cannot agree on a federal spending bill by October 1

HEADING FOR A SHUTDOWN. A view of a hall on Capitol Hill September 29, 2013 in Washington, DC. AFP/Brendan Smialowski

Do or die: US faces government shutdown

Sep 30, 2013 - 12:43 PM

A deal appears remote as US congressional leaders show little intent to compromise

BUDGET BATTLEGROUND. The US House of Representatives voted September 29, 2013 to fund the government, but delays the implementation of the Affordable Care Act by a year. The US Capitol building is seen reflected in the Capitol Reflection Pool after sunset in Washington DC, USA, 28 September 2013. EPA/Michael Reynolds

US House OKs budget bill delaying Obamacare; gov't shutdown likely

Sep 29, 2013 - 1:16 PM

UPDATED The bill assures a stalemate with the Senate and brings the US federal government dramatically closer to its first shutdown in 17 years

BUDGET BATTLEGROUND. The US House of Representatives voted September 29, 2013 to fund the government, but delays the implementation of the Affordable Care Act by a year. The US Capitol building is seen reflected in the Capitol Reflection Pool after sunset in Washington DC, USA, 28 September 2013. EPA/Michael Reynolds

US shutdown likely as House Republicans amend budget bill

Sep 29, 2013 - 6:41 AM

The US House votes on a Republican plan that keeps government open through mid December while delaying implementation of President Barack Obama s health care law

BUDGET BATTLE. The United States government faces a potential shutdown as leaders continue to debate on the budget. This file photo dated December 18, 2011 shows the US Capitol in Washington, DC. AFP / Karen Bleier / Files

Avoiding US gov't shutdown likely means bigger debt fight

Sep 26, 2013 - 12:33 PM

Lawmakers were to mull options for keeping agencies open while potentially postponing a battle over President Barack Obama s health care law

BUDGET BATTLE. The United States government faces a potential shutdown as leaders continue to debate on the budget. This file photo dated December 18, 2011 shows the US Capitol in Washington, DC. AFP / Karen Bleier / Files

US to hit debt ceiling in mid-October

Aug 27, 2013 - 2:37 PM

US Treasury Secretary Jacob Lew urges legislators to raise the debt limit saying to not do so will cause irreparable harm to US economy

The U.S. Capitol illuminates at dusk on Capitol Hill on December 31, 2012 in Washington, DC. Drew Angerer/Getty Images/AFP