President Biden is scheduled to deliver a rare Oval Office address on Friday evening after congressional passage of legislation that narrowly averts the economic calamity of a first-ever default on the nation’s debt. The legislation, knows as the Bipartisan Budget Agreement, passed the Senate late Thursday after receiving broad support in the House this week. It suspends the debt ceiling for two years and cuts back on spending. Mr. Biden is...

There is growing fear among Democrats that the White House could cut a deal with House Speaker Kevin McCarthy (R-CA) that would undercut their key priorities.

The United States could default on its debt as early as June 1. As the clock ticks down to next month Speaker McCarthy is ready to negotiate. The ball is in President Biden's court.

The impasse between Congress and the White House could result in the US defaulting on its debt. Which countries are the largest holders of US public debt?

A poll found that while still preferred over the Republicans' solution, Biden's plan lost 7 percent of supporters since February.

Sen. Elizabeth Warren cited Moody's report in a letter to Biden, saying the GOP "approach" to raise the debt ceiling could "destroy millions of jobs."