US Could Face Debt-Ceiling Crisis This Summer Without Deal, Warns Budget Office

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The Congressional Budget Office on Wednesday said the United States Treasury Department will exhaust its ability to pay its bills sometime between July and September unless the current $31.4 trillion cap on borrowing is raised or suspended. In a report issued alongside its annual budget outlook, the nonpartisan budget office, also known as the CBO, cautioned that a historic federal debt default could occur before July if revenues flowing into the Treasury in April — when most Americans typically submit annual income tax filings — lag expectations. The pace of incoming revenues, coupled with the performance of the U.S. economymore

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Trump Gets Republican Challenger for 2024 Presidential Election

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At her first presidential campaign event on Wednesday, former South Carolina governor Nikki Haley told an enthusiastic crowd in Charleston that it is time for the country “to move past the stale ideas and faded names of the past.” Haley did not mention former President Donald Trump, instead focusing her criticism on the nation’s current leader, Democrat Joe Biden. “Our leaders are failing. No one embodies that failure more than Joe Biden,” she said. To face Biden, however, Haley will need to get past Trump, who has already declared his candidacy, and numerous other expected Republican hopefuls. Haley, ambassador tomore

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A Cold War on Two Fronts? No Thanks, Says Biden

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Despite intense pressure from his Republican opposition, President Joe Biden appears intent on maintaining a measured response to the Chinese spy balloon that crossed the continental United States early this month. The approach appears calibrated to avoid escalation with a second major adversary as his administration deals with Russia’s almost 1-year-old war on Ukraine. John Kirby, the National Security Council coordinator for strategic communications, told reporters Tuesday the balloon drama does not change the fact that the administration intends to avoid a conflict and continues to seek open lines of communication with China. Nothing has changed about the president’s desiremore

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