The cap on how much the government can borrow has become a political football, but the consequences are very real.

Add Yahoo as a preferred source to see more of our stories on Google. The debt ceiling is the limit placed by Congress on the amount of debt the government can accrue. In order to pay its bills to ...

WASHINGTON -- While the concept of the debt ceiling might seem "in the weeds," it actually poses a very real threat to millions of Americans in a precarious economic period. If lawmakers on Capitol ...

President-elect Donald Trump said Thursday that Congress should get rid of the debt ceiling, a day after he and Elon Musk came out against a deal reached by congressional lawmakers to fund the ...

U.S. President Donald Trump expressed a rare agreement with Senator Elizabeth Warren on Wednesday, advocating for scrapping the U.S. debt limit amid renewed debate in Washington over the risks and ...

WASHINGTON - Congressional leaders reached an elaborate deal Tuesday that will allow Democrats to lift the nation’s debt limit without any votes from Republicans, likely averting another last-minute ...

For someone who hates debt, Rep. Tim Burchett made a remarkable acknowledgment after voting this month for a massive bill that included a $5 trillion hike to the nation’s credit card limit. “I feel ...

Rep. Dan Newhouse (R-Wash.) doesn’t think scrapping the debt limit, as President Donald Trump suggested, is the wisest decision. He does, however, sympathize with the reason Trump and some others are ...

A proposed $5 trillion debt limit increase could make it hard for Republicans to maintain their fiscal hawk credibility. By Alan Rappeport Reporting from Washington For years, Republicans have warned ...

In 2023, a stalemate between then-President Joe Biden and congressional Republicans over the debt ceiling prompted panic among financial analysts and everyday Americans alike. The deal they struck, ...