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Money & Markets

Biden signs debt limit hike, but December standoff looms

WASHINGTON — President Joe Biden on Thursday signed into law a bill raising the nation’s debt limit until early December, delaying the prospect of an unprecedented federal default that would cause economic disaster. The House passed the $480 billion increase in the country’s borrowing ...

Social Security checks getting big boost as inflation rises

WASHINGTON — Millions of retirees on Social Security will get a 5.9 percent boost in benefits for 2022. The biggest cost-of-living adjustment in 39 years follows a burst in inflation as the economy struggles to shake off the drag of the coronavirus pandemic. The COLA, as it’s commonly ...

House sends debt limit hike to Biden, staving off default

WASHINGTON — Members of the House on Tuesday pushed through a short-term increase to the nation’s debt limit, ensuring the federal government can continue fully paying its bills into December and temporarily averting an unprecedented default that would have decimated the economy. The $480 ...

House returns to stave off default with debt-limit vote

WASHINGTON — Members of the House are scrambling back to Washington Tuesday to approve a short-term lift of the nation’s debt limit and ensure the federal government can continue fully paying its bills into December. The $480 billion increase in the country’s borrowing ceiling cleared ...

McConnell says he won’t help Dems raise debt limit again

WASHINGTON — Senate Minority Leader Mitch McConnell said Friday he would not again help Democrats extend the government’s borrowing authority, raising fresh doubts about how Congress will avert a federal default when a temporary patch expires in December. McConnell issued his warning in a ...

Senate avoids US debt disaster, votes to delay borrowing

WASHINGTON — The Senate has dodged a U.S. debt disaster, voting to extend the government’s borrowing authority into December and temporarily avert an unprecedented federal default that experts warned would devastate the economy and harm millions of Americans. The party-line Democratic ...